Insider’s experts choose the best products and services to help make smart decisions with your money (here’s how). In some cases, we receive a commission from our our partners, however, our opinions are our own. Terms apply to offers listed on this page.
If you’re searching for a place to save money for short-term goals, a high-yield savings account may be a good fit.
Our best savings accounts guide and best high-yield savings account guide can be great starting points in your research if you’re looking for bank accounts with unique perks or features. But if you prioritize finding the highest rates above all else, this list is for you.
Compare savings account rates
What are the interest rates for savings accounts today?
The FDIC keeps tabs on national rates for interest-earning bank accounts. The average interest rate paid by a savings account right now is 0.17% APY.
We’ve been checking over a dozen financial institutions to keep up with their new rate offerings. Our list includes accounts with much higher interest rates than the national average, since online institutions tend to offer high-yield bank accounts.
The most competitive high-yield savings accounts pay up to 2.61% APY right now. Keep in mind interest rates may change. Savings accounts have variable interest rates, which means that the rates can fluctuate at any time.
The Federal Reserve has increased the federal funds rate several times this year, so savings interest rates are also expected to steadily increase throughout 2022.
Highest savings account rates: September 19, 2022
Editor’s rating
Open and keep at least $25 in your account
Editor’s rating
Editor’s rating
Open an account with at least $100
Editor’s rating
Open an account with at least $100
Editor’s rating
Open an account with at least $1,000
Editor’s rating
Open an account with at least $100
Editor’s rating
Open an account with at least $5,000
Editor’s rating
Open an account with at least $100
Editor’s rating
Editor’s rating
Editor’s rating
Best savings account interest rates
Annual Percentage Yield (APY)
up to 2.61% APY
Minimum Deposit Amount
$0
Annual Percentage Yield (APY)
up to 2.61% APY
Minimum Deposit Amount
$0
Deposit Details
Annual Percentage Yield (APY)
up to 2.61% APY
Minimum Deposit Amount
$0
Pros & Cons
Highlights
UFB Rewards Savings offers the highest interest rate on our list. UFB Rewards Savings could be worthwhile if you’d like easy access to your account — the savings account comes with an ATM card.
Bask Bank could be a good fit if you’d like to open an account with $0. However, keep in mind that the online-only bank only offers two types of savings accounts. If you’re looking for a checking account or a CD, you’ll want to consider other financial institutions.
Synchrony also has a high-yield savings account with a $0 minimum opening deposit. The Synchrony High-Yield Savings Account might be a deal if you prioritize strong customer support— it has 24/7 telephone and live chat customer service.
The BrioDirect High-Yield Savings Account may be appealing if you are able to keep at least $25 in your account daily.
The Bread Savings High-Yield Savings Account requires at least $100 upfront. If you haven’t heard of Bread Savings, you might recognize the name Comenity Direct. Comenity Direct recently rebranded because its parent company, Bread Financial, has expanded to include lending options.
You might consider banking with LendingClub, CIT Bank, TAB Bank, or Quontic Bank if you’re looking to open other accounts along with your high-yield savings account.
LendingClub has a solid cash-back checking account, and Quontic has several types of rewards checking accounts. The LendingClub High-Yield Savings Account and Quontic High Yield Savings Account both require a minimum of $100 for an initial deposit.
TAB Bank pays competitive rates on CDs along with its high-yield savings account. However, keep in mind that TAB Bank doesn’t have an ATM network, so when you use any ATM, the bank will charge you a fee.
Meanwhile, CIT Bank might be ideal if you’re searching for CDs or money market accounts, too. CIT Bank is currently offering a unique promotional offer through its money market account, and the bank offers a wide range of CD options.
The Citizens Online Access Savings Account is another great high-yield savings account. However, keep in mind you’ll need at least $5,000 to open an account.
The CIBC Agility Account is a good high-yield savings account overall, as long as you have at least $1,000 to open the account. CIBC Bank USA is the US division of the Toronto-based bank Canadian Imperial Bank of Commerce. CIBC Bank USA has an online savings account and CDs that you can open from anywhere in the US. It also lets you open checking and money market accounts if you live in Illinois, Michigan, Missouri, or Wisconsin.
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Insider’s experts choose the best products and services to help make smart decisions with your money (here’s how). In some cases, we receive a commission from our our partners, however, our opinions are our own. Terms apply to offers listed on this page.
If you’re searching for a place to save money for short-term goals, a high-yield savings account may be a good fit.
Our best savings accounts guide and best high-yield savings account guide can be great starting points in your research if you’re looking for bank accounts with unique perks or features. But if you prioritize finding the highest rates above all else, this list is for you.
Compare savings account rates
What are the interest rates for savings accounts today?
The FDIC keeps tabs on national rates for interest-earning bank accounts. The average interest rate paid by a savings account right now is 0.17% APY.
We’ve been checking over a dozen financial institutions to keep up with their new rate offerings. Our list includes accounts with much higher interest rates than the national average, since online institutions tend to offer high-yield bank accounts.
The most competitive high-yield savings accounts pay up to 2.61% APY right now. Keep in mind interest rates may change. Savings accounts have variable interest rates, which means that the rates can fluctuate at any time.
The Federal Reserve has increased the federal funds rate several times this year, so savings interest rates are also expected to steadily increase throughout 2022.
Highest savings account rates: September 19, 2022
Editor’s rating
Open and keep at least $25 in your account
Editor’s rating
Editor’s rating
Open an account with at least $100
Editor’s rating
Open an account with at least $100
Editor’s rating
Open an account with at least $1,000
Editor’s rating
Open an account with at least $100
Editor’s rating
Open an account with at least $5,000
Editor’s rating
Open an account with at least $100
Editor’s rating
Editor’s rating
Editor’s rating
Best savings account interest rates
Annual Percentage Yield (APY)
up to 2.61% APY
Minimum Deposit Amount
$0
Annual Percentage Yield (APY)
up to 2.61% APY
Minimum Deposit Amount
$0
Deposit Details
Annual Percentage Yield (APY)
up to 2.61% APY
Minimum Deposit Amount
$0
Pros & Cons
Highlights
UFB Rewards Savings offers the highest interest rate on our list. UFB Rewards Savings could be worthwhile if you’d like easy access to your account — the savings account comes with an ATM card.
Bask Bank could be a good fit if you’d like to open an account with $0. However, keep in mind that the online-only bank only offers two types of savings accounts. If you’re looking for a checking account or a CD, you’ll want to consider other financial institutions.
Synchrony also has a high-yield savings account with a $0 minimum opening deposit. The Synchrony High-Yield Savings Account might be a deal if you prioritize strong customer support— it has 24/7 telephone and live chat customer service.
The BrioDirect High-Yield Savings Account may be appealing if you are able to keep at least $25 in your account daily.
The Bread Savings High-Yield Savings Account requires at least $100 upfront. If you haven’t heard of Bread Savings, you might recognize the name Comenity Direct. Comenity Direct recently rebranded because its parent company, Bread Financial, has expanded to include lending options.
You might consider banking with LendingClub, CIT Bank, TAB Bank, or Quontic Bank if you’re looking to open other accounts along with your high-yield savings account.
LendingClub has a solid cash-back checking account, and Quontic has several types of rewards checking accounts. The LendingClub High-Yield Savings Account and Quontic High Yield Savings Account both require a minimum of $100 for an initial deposit.
TAB Bank pays competitive rates on CDs along with its high-yield savings account. However, keep in mind that TAB Bank doesn’t have an ATM network, so when you use any ATM, the bank will charge you a fee.
Meanwhile, CIT Bank might be ideal if you’re searching for CDs or money market accounts, too. CIT Bank is currently offering a unique promotional offer through its money market account, and the bank offers a wide range of CD options.
The Citizens Online Access Savings Account is another great high-yield savings account. However, keep in mind you’ll need at least $5,000 to open an account.
The CIBC Agility Account is a good high-yield savings account overall, as long as you have at least $1,000 to open the account. CIBC Bank USA is the US division of the Toronto-based bank Canadian Imperial Bank of Commerce. CIBC Bank USA has an online savings account and CDs that you can open from anywhere in the US. It also lets you open checking and money market accounts if you live in Illinois, Michigan, Missouri, or Wisconsin.