Here’s a list of the best high interest savings accounts. Get up to 5% APY with a rewards account or up to 2.5% on a basic account. We don’t receive any sort of commission for any of these, and ALL banks are included in this list.
Best Basic Savings Rates
Leaving money in a regular bank account will usually get you a terrible interest rate, currently close to 0%. With a little research, you can find accounts that offer competitive rates. These are all ordinary savings accounts and are FDIC insured up to $250,000. They do not have any requirements to earn these rates.
Here are the best options available, rated highest to lowest:
- T-Mobile Money – 1.00% APY savings for anyone (4% on up to $3,000 for T-Mobile customers; our review)
- Merchants Bank – 1.00% APY money market
- Paramount Bank – .85% high interest checking
- Customers Bank – .80% APY Ascent money market (minimum $25,000)
- First Foundation – .75% savings
- CFG Community – .72% APY high-yield money market (minimum $25,000)
- Connectone – .70% savings ($2,500 minimum to $250,000 maximum)
- My ebanc – .70% APY money market (minimum $100,000)
- MutualOne Bank – .70% APY savings
- Popular Direct – .70% APY savings (minimum $5,000) (our review)
- SFGI – .67% APY savings
- Vio Bank – .66% APY savings account ($100 minimum) (our review)
- Affirm – 0.65% APY savings
- TAB Bank – .65% savings
- BrioDirect – .65% money market (minimum $25,000)
- Sallie Mae – .65% APY or higher ‘smartypig’ account
- Bank7 – .65% APY savings & money market account (our review)
- Salem Five Direct – .61% APY savings (our review)
- Axos – .61% savings
- Synchrony – .60% APY savings
- Live Oak Bank – .60% APY savings
- National Cooperative – .60% APY money market (minimum $5,000 to waive fee)
- Prime Alliance – .60% savings (minimum $10,000)
- Western State Bank – .60% APY money market (our review)
- PenFed – .60% APY premium savings
- BankPurely – .60% APY money market (minimum $25,000)
- iGoBanking – .60% money market (minimum $25,000)
- Northern Bank – .60% money market
- Spectrum CU – .60% money market (minimum $2,500)
- Comenity – .60% APY savings
- TotalDirectBank – .60% money market (balances between $2,500 and $500,000)
- Sallie Mae – .60% APY money market
- Star One CU – .60% APY money market
- Rising Bank – .60% savings account (pays monthly)
- Colorado Federal – .55% APY savings (.60% for new customers)
- Gateway First – .55% savings (most states)
- Discover – .55% APY savings when signing up via this link (standard account is .50%) (our review)
- Alliant Credit Union– .55% APY savings
- VirtualBank – .55% APY eMoney Market Account (our review)
- Envision – .55% APY savings
- Bank5 Connect – .55% APY savings
- Elements Financial – .55% Helium Savings; rate guaranteed for one year (balances between $2,500 and $250,000; our review)
- Valley Direct – .55% APY savings ($5,000 minimum) [Available in: AL, CT, DC, DE, FL, MD, NJ, NY, PA, VA, WV]
- CIBC – .52% savings (minimum $1,000)
- Citibank – .50% APY savings (not available in all states) (our review)
- Ally – .50% APY savings
- Chime – .50% savings
- Simple – .50% APY in their ‘Protected Goals’ savings account
- American Express – .50% APY savings account
- CIT Bank – .50% APY money market account
- PNC – .50% savings account (excludes states with branches) (our review)
- CitizensAccess – .50% APY savings (minimum $5,000)
- BMO Harris – .50% savings (most states; minimum $5,000)
- Marcus by Goldman Sachs – .50% APY savings
- FNBO Direct – .50% APY savings
- All America Bank – .50% APY on balances up to $50,000 with money market checking (our review)
- Redneck Bank – .50% APY money market on balances up to $50,000 (our review)
- Level Bank – .50% APY checking account (our review)
- NBKC – .50% ‘everything’ account and money market account
- Northpointe – .45% APY money market and savings (minimum $25,000; our review)
- Northfield Bank – .45% APY platinum savings (our review)
- Barclays – .45% APY savings
- Dollar Savings Direct – .45% APY savings
- MySavingsDirect – .45% APY savings (no minimum) (our review)
- Emigrant Bank – .45% APY savings
- Credit Karma Savings – .40% APY (our review)
- BrioDirect – .40% savings (our review)
- Axos/Nationwide – .40% APY savings
- Capital One 360 – .40% APY savings
- Varo – .40% APY savings (1/12/21)
- MutualOne – .40% APY Advantage checking (minimum $50,000)
- EBSB Direct – .40% money market ($10,000 – $200,000)
- PurePoint – .40% APY savings account (minimum $10,000)
- Betterment – .40% saving account (our review)
- Wealthfront – .35% APY cash account (our review)
- Robinhood – .30% APY account (our review)
- Empower Banking – .25% APY savings (our review)
- Radius Bank – .25% APY savings (minimum $25,000)
- WebBank – .25% APY savings ($1,000 minimum) (our review)
- Investors Bank – .25% money market (our review)
- BBVA – .21% APY money market ($10,000 minimum; our review)
- UFB – .20% APY savings account (minimum $10,000) (bonus from Swagbucks)
- HSBC Direct – .15% APY savings (our review)
- Personal Capital – .05% APY cash account (our review)
- E*Trade Bank – .05% premium savings
- SoFi – .01% checking/savings account (.25% with $500 DD) (our review)
Other Basic Options
- Ally – .60% no penalty 11-month CD (our review)
- Marcus by Goldman Sachs – .55% 7-month no penalty CD ($500 minimum)
- Simple – .50% APY 12-month no penalty CD ($250 minimum)
- My ebanc – .55%-.70% 11-month no-penalty CD ($10,000 minimum); .70% rate for $100k+
- CommunityWide – .90% APY savings (note: funds are locked in for 3 months at a time)
- [NJ] AmboyDirect – 1.01% savings on up to $50,000 (guaranteed for 12 months)
- Government inflation bonds (not FDIC insured) are currently offering 1.68%, you’re limiting to purchasing $10,000 annually.
- U.S. Treasury Bills
All of these rates will fluctuate over time, and we’re constantly updating this list. There is an advantage to a bank who has a proven track record of giving good interest rates since some of the top rates might be ‘bait-and-switch’ soon to be lowered. Banks like Ally, Alliant, Discover, American Express and some others have been known to offer competitive interest rates for many years. Their rates will also fluctuate but will likely always be a good rate.
Another thing to keep in mind is that while most banks automatically increase your rate as interest rates increase, some don’t. We wrote data points on which do and which don’t here. Keep that in mind when choosing a bank.
Most of these are savings accounts, with a few checking accounts mixed in. We wrote about options for getting a high yield on your checking account in this post.
Best CD Rates
Nationwide CD Offers:
- TotalDirectBank .85% 12-month CD
- Gateway First .85% 12/24-month CD (minimum $25,000)
- Paramount Bank .75% 6-month CD ($1,000 minimum)
- Ally .70% 18-month CD
- Limelight Bank .70% 12/18-month CD
- Banesco .70% 12-month CD
- Ally .65% 12-month CD
- Marcus by Goldman Sachs .65% 12/18/24-month CD
- First Internet Bank .65% APY 12-month CD
- Discover .60% 12-month CD
- Comenity .60% APY 12-month CD
- Rising Bank .60% 6/12-month CD
- Synchrony .60% 12-month CD ($2,000 minimum)
- Live Oak Bank .60% APY One-Year CD
- Citizens Access .60% APY 12-month CD
- Tab Bank .60% APY 12-month CD
- Bank5 Connect .55% 12-month CD
- Colorado Federal .50% 12-month CD
- Sallie Mae .50% 12/15-month CD
- CIT Bank .50% APY 12-month CD
- TIAA Bank .45% 12-month CD
Other CD Offers:
- Navy Federal – 3.50% APY 12-month EasyStart CD for balances $50-$3,000 (military families only; requires direct deposit)
- American Heritage CU 4% 4-month CD on up to $2,000 (join with donation)
- Giftsforbanking 24 Month CD Offering .50% APY + Free Substantial Gift
Best Business Savings Rates
- First Internet Bank – .81% APY money market ($4,000 to waive fee)
- First Internet Bank – .95% APY 12-month CD
- Paramount Bank – .75% business money market ($5,000 minimum)
- Capital One 360 – .65% business savings (12 months only; max $1M). They also charge a cash deposit fee of $2 per $1,000 if you deposit $5,000 or more per month in cash. (Select Areas)
- NBKC Bank – .80% business money market
- Customers Bank – 1.00% APY business checking on balances $100,000+ (there might be geographic limitations)
- Usalliance – rate varies from .50% to 1.70% depending on deposit amount (note: $5 withdrawal fee)
- Axos Bank – .50% business premium savings
- Live Oak Bank – .80% business savings
- Axos Bank – .50% APY business checking
Mega High-Interest (Nationwide)
Aside from basic accounts offering competitive interest rates, there are ultra high-yield options which are more involved and take time and patience to deal with. Bear in mind, all of the best options have velocity limits, sometimes it’s $5k, $10k, $15k, or $20k. You’ll never be netting more than $1,000 in annual interest from any of these accounts, and it’s usually much less than that. Someone who is impatient or doesn’t have spare time would best use a standard high-interest savings account options and forget about the velocity-limited accounts.
Below you’ll find all mega high interest accounts which are available nationwide, and in the next segment we list the regional options.
- OnJuno Review – Earn 2.15% APY Up To $30,000, Earn 5% Up To $3,000 On Select Merchants
- Devon Bank Kasasa Rewards Checking Account – 3.5% APY On Balances Up To $10,000
- One Finance: Get Up To 3% APY With Direct Deposits + $25 Signup Offer
- HMBradley Savings Account: 3% APY Savings Rate On Up To $100,000 When You Save 20% Of Your Paycheck
- Porte Bank 3% APY On Balances Up To $15,000 + $50 Referral Bonus
- Presidential Bank $50 Bonus + 2.25% APY Checking (With Requirements)
- Elements Financial 2% APY Rewards Checking on up to $20,000 with easy requirements – Nationwide
- Western Vista Credit Union Rewards Checking 3.25% APY On Balances Up To $15,000
- TAB Bank 2% APY On Balances Up To $25,000 – Direct Deposit Not Required
- ECCU Kasasa Cash Checking Account – 3% On Balances Up To $10,000 [Christian Banking]
- Varo Money Savings Account – 2.12-2.8% APY
- Orion Federal Credit Union Premium Checking 1% APY On Balances Up To $10,000 (DD Not Required)
- Heritage Bank 1.39% APY Rewards Checking Account on up to $25,000 – Available Nationwide
- Fitness Bank .85% APY, no limit. Requires an average of 12,500+ steps per day
- Consumer’s Credit Union 4.09% APY On Up To $10,000 Rewards Checking
- T-Mobile Money Review – Earn 4% APY On Balances Up To $3,000 (Requires T-Mobile Account)
- One American Bank – 2% APY Rewards Checking Account On Up To $10,000 [No Direct Deposit Required]
- Evansville Teachers Federal Credit Union: Vertical Dividend 3.30% APY Account On Balances Up To $20,000
- Great Lakes Credit Union (GLCU) – 2.50% Rewards Checking Account Review, up to $10,000
- Signature FCU Rewards Checking 2% APY on up to $20,000 [Nationwide]
- MarketUSA Federal Credit Union 3% APY Rewards Checking – Available Nationwide
- Lake Michigan Credit Union: 3% Reward Checking Account On Up To $15,000
- Industrial Bank 2.5% APY Checking Account on up to $15,000
- Mango Prepaid 6% Interest Rate on up to $2,500
- Blue Federal Credit Union 2% – 4% APY on up to $15,000
- The Bank Of Denver – 2.5% APY On Balances Up To $25,000
- Partner Colorado Credit Union 1.75% APY On Balances Up To $10,000
Insight 5% APY Prepaid Card on up to $5,000Northpointe 5% Interest Checking Account, Up to $10k
More Restrictive Options:
- Blue Federal Credit Union 4.99% APY Account (Up To $1,000)
- Premier Members Credit Union Reverse Tiered Money Market Account – Up To 2% APY on $2,000
- DCU 6.17% APY on balances up to $1000
- Netspend Prepaid 5% Interest Rate on up to $1,000
- KaiPerm Credit Union 6% APY Account On Balances Up To $1,000 (Membership Restricted)
Mega High-Interest (Regional)
Below are the regional accounts we’ve reviewed on the site. There are many more as well.
- New Hampshire, Maine: Northeast Credit Union 2.5% Checking on up to $15,000
- New Hampshire, Maine: Service Credit Union 3% APY On Balances Up To $3,000
- Iowa, Nebraska, Minnesota, South Dakota: Iowa State Bank 3.25% APY on up to $25k
- Missouri, Arkansas, Oklahoma, Kansas, Iowa, Nebraska, Illinois, Kentucky, Tennessee: Old Missouri Bank 2.01% APY Rewards Checking Account On Balances Up To $25,000
- Maryland, Delaware: Destinations Credit Union: 3% Reward Checking Account, Up to $10,000
- Wisconsin, Illinois: Landmark Credit Union 7.50% APY High Rate – Balances Of Up To $500
- Indiana, Michigan, Ohio, Illinois, Wisconsin: New Buffalo Savings Bank: 2.27% APY On Balances Up To $35,000 & $50 Amazon Giftcard
- Virginia, North Carolina: Beacon Credit Union 5.05% APY On Balances Up To $2,500
- Wyoming, Nebraska: Meridian Trust Federal Credit Union 4% APY On Balances Up To $15,000
- Illinois, Iowa: South East National Bank 3% APY On Balances Up o $10,000
- Arkansas, Mississippi: First Financial Bank 3.04% APY on Balances Up To $15,000 – Direct Deposit Not Required
- Parts of Arizona, California: Meriwest Credit Union 2.50% savings account on up to $5k [must be opened within 30 days of joining]
- New York, New Jersey: Kearny Bank 1.25% APY On Balances Up To $25,000 – Direct Deposit Not Required
- Missouri, Illinois: Scott Credit Union – Up To 3.05% APY On Balances Up To $25,000
- Minnesota, Pennsylvania, Michigan: Genisys Credit Union 4.06% APY High Yield Checking Account – Up To $7,500
- Texas, Nevada, Michigan: InTouch Credit Union High Yield Checking Account – 1.25% APY On Balances Up To $30,000
- Tennessee, Kentucky: First Advantage Bank 2.5% APY Rewards Checking On Balances Up To $10,000
- Illinois, Indiana, Michigan: Centier Bank 2.00% Savings on up to $18,000 With 50 Debit Card Purchases
- In Alabama: Guardian Credit Union 4% APY On Balances Up To $30,000 Ultimate Checking Account
- In parts of Arkansas: Peoples Bank 5.12% APY Kasasa Checking On Balances Up To $15,000
- In California: Patelco Reverse Tiered Money Market Account – Up To 2% APY
- In Florida: Liberty Savings Bank 1% APY On Balances Up To $25,000; 1.5% Savings Account On Up to $50,000; $25 Referral Bonus
- In parts of Georgia: MidSouth FCU 5% APY Checking Account on up to $10,000
- Parts of Illinois: Crossroads Bank 2.50% APY checking on up to $15,000
- Illinois: Hometown Community Banks 4.01% APY Checking Account (10 Debit Card Transactions Required)
- Indiana: Interra Credit Union 5% APY On Balances Up To $10,000
- Iowa Premier Bank 5% APY Checking on Balances up to $5,000
- Kansas: State Security Bank 3% APY On Balances Up To $10,000 – Direct Deposit Not Required
- Louisiana: Gibsland Bank 2.25% APY on up to $15,000
- Louisiana: Bank of Ruston: Priority Checking Account 3% APY On Balances Up To $15,000
- Louisiana: La Capitol Federal Credit Union 4.25% On Balances Up To $5,000 – Direct Deposit Not Required
- Louisiana: Bank of Montgomery (BOM) 4.07% Premium Account On Balances Up To $15,000
- Louisiana: Progressive Bank 4.05% checking account on balances up to $25,000
- Maryland: Freedom Financial Credit Union 3% APY on balances up to $10,000
- Massachusetts: 2.25% on balances up to $25,000
- Massachusetts: Alden Credit Union 5.125% APY Rewards Checking Account, up to $5,000 (not accepting new accounts)
- Michigan: Consumers Credit Union 4% APY
- Michigan: Arbor Financial CU 4% Checking On Balances Up To $15,000
- Michigan: Financial Plus Credit Union 4.15% APY On Balances Up To $10,000
- Michigan: Adventure Credit Union – 4% APY On Balances Up To $10,000
- Michigan: Kellogg Community Credit Union 4% APY Checking Account On Balances Up To $15,000
- Michigan: Honor Credit Union 2.5% APY Benefits Checking Account On Balances Up To $10,000
- Michigan: AAA High-Yield Checking – 2.85% On Balances Up To $10,000
- Michigan: Dort Federal Credit Union 5% APY On Balances Up To $10,000
- Michigan: United Federal Credit Union: Ultra Checking Account – Earn 3% APY On Balances Up To $15,000
- Michigan: Chief Financial Credit Union 2.25% APY – No Direct Deposit Required
- Minnesota: St Paul Federal Credit Union 4.99% On Balances Up To $20,000
- Missouri: Legacy Bank & Trust i-Profit 4% APY on Up To $10,000
- Missouri: Ozark Bank 3% APY Checking on Balances up to $10,000
- Missouri: Hawthorn Bank 3.01% APY On Balances Up To $30,000
- Nebraska: Liberty First Credit Union 3% APY On Balances Up To $30,000
- Nevada: Greater Nevada Credit Union – Aspire Checking 1.75% APY On Balances Up To $25,000
- In parts of New York: Solvay Bank 4% APY Checking on Balances up to $15,000
- In New York: Apple Bank Youth (6-17) Savings Account: 3% APY On Balances Up To $10,000
- Ohio: Bridge Credit Union 10% APY Account On Balances Up To $1,500 (Lots Of Monthly Requirements)
- Oregon: Oregon Community Credit Union (OCCU) – 5.25% APY On Balances Up To $500 Ignite Savings Account
- South Dakota: Reliabank Ultimate Checking – 3.51% APY On Balances Up To $25,000 – Direct Deposit Not Required
- Texas: Affiliated Bank 2.00% APY On Balances Up To $50,000
- El Paso, Texas only: Evolve FCU Rewards ePriority Checking Account – 3% APY On Balances Up To $10,000
- Washington: O Bee Credit Union 2.02% APY On Balances Up To $500
- Washington: STCU 5.09% APY on balances up to $500 with no requirements
- Washington: Gesa 3.00% APY on $500 in Savings and Checking – $1000 total
- Washington: BECU 1.00% APY on balances up to $500 and 2.00% on savings balances up to $500
- Wyoming: WyHy FCU 3% APY SmartReturns Checking Account On Balances Up To $15,000 – Direct Deposit Not Required
