10 Best High-Yield Savings Accounts

Editor’s Take

Synchrony Bank’s high-yield savings account is a standout choice thanks to its competitive 4.10% APY—significantly above the national average, which typically sits below 1%. This makes it a strong option for savers looking to grow their money faster.

The account comes with no monthly maintenance fees, so your balance isn’t chipped away over time. As an online-only bank, Synchrony offers digital account management through its website or app, and provides optional ATM access for easy cash withdrawals. If you prefer a simple, high-interest savings solution without needing branch access, Synchrony is a top pick this month.

Pros & Cons

Pros:

• High APY (4.10% as of July 2025)
• No monthly fees or minimum balance requirements
• Optional ATM card for flexible access to cash
• FDIC insured up to $250,000 per depositor

Cons:

• No physical branches for in-person service
• No checking account, so you may need to use another bank for daily spending
• Mobile check deposits and transfers only; no cash deposits
• APY can change at any time

Details

The Synchrony High Yield Savings account offers one of the most competitive APYs available today, helping your savings grow faster without requiring a minimum deposit. There are no monthly service fees, so every dollar you save stays in your account.

You can access your funds through the website, mobile app, or an optional ATM card, and electronic transfers make it simple to move money from other banks. While you can’t deposit cash directly, check deposits and transfers are easy to manage. With FDIC insurance up to standard limits and strong online support, this account is ideal for those who prefer digital banking with high returns.

Editor’s Take

Capital One 360 Performance Savings is a strong option if you want higher interest without hidden fees or high minimums. It offers an APY often above the national average, making it attractive for growing your savings.

The account is accessible online and through select Capital One branches, with tools to set automatic savings goals and track progress via the app. With no monthly fees or minimum balance requirements, it’s easy to get started—even with a small deposit. For those seeking convenience and competitive returns, it’s a standout choice.

Pros & Cons

Pros:

• High APY: Earns above-average returns on your savings.
• No Monthly Fees: You won’t be charged monthly service fees.
• No Minimum Balance: Start with any amount you like.
• Easy Online Banking: Manage your money from anywhere.
• Branch Access: Visit a branch if you prefer in-person help.

Cons:

• No ATM Card: You can’t access money at ATMs directly from this account.
• Limited Branch Locations: Only available in select cities.
• No Checking Features: Strictly savings—no checks or debit capabilities.

This account provides many key features for savers, but you may miss ATM access or widespread physical branches.

Details

Capital One 360 Performance Savings Account™ offers an annual percentage yield (APY) that is much higher than what most brick-and-mortar banks provide. As of July 2025, the rate is around 3.50% APY, but rates may change over time.

You are not required to keep a minimum balance, and there are no monthly fees. Funds can be transferred between your Capital One accounts or linked external accounts digitally. Customer service is available both online and at select branches for help when you need it.

The mobile app allows you to set up automatic transfers, monitor your savings goals, and get account alerts. If you are looking for a safe and easy-to-use place to grow your savings with useful digital tools, this account is a strong option.

Editor’s Take

The American Express High Yield Savings Account is a solid choice for those seeking a simple, high-interest savings option from a reputable bank. Its interest rate consistently exceeds the national average, offering better growth than many traditional banks.

The account is easy to open and manage online, with strong customer service and a reliable digital platform. However, it lacks ATM access and physical branches, and all transfers are electronic, making it less ideal if you need fast, in-person access to your funds.

Pros & Cons

Pros:

• 3.60% to 4.00% APY
• No monthly fees
• No minimum deposit or balance requirements
• Trusted, well-known institution

Cons:

• No ATM card or branch access
• Electronic transfers can take 1-3 days
• Limited to 6 withdrawals per month (per federal rules)
• No checking account integration

These features make the account a solid choice for building savings but less convenient if you need rapid or frequent access to your funds.

Details

American Express offers a high-yield savings account with an APY between 3.60% and 4.00%, roughly 10 times higher than the national average. Interest is compounded daily, credited monthly, and there are no minimum balance requirements to open or maintain the account.

All banking is done online or by phone, with the option to link up to three external accounts for transfers. Deposits are FDIC-insured up to $250,000, but you can’t deposit cash; only electronic transfers and mailed checks are accepted. While customer support is reliable, there are no physical branches for in-person service.

Editor’s Take

The Marcus High-Yield Online Savings Account is a practical option for people who want to earn more on their savings. Its APY, around 3.65% as of July 2025, is higher than many traditional banks and remains above the national average.

Because Marcus is an online bank, all banking is done digitally. The simple, no-frills platform appeals if you want to avoid branch visits and paperwork. You can open an account in minutes, making it good for people who want a quick signup and immediate access.

There are no monthly service charges or minimum deposit requirements, so you don’t need to worry about surprise fees. The account is insured by the FDIC, giving you protection on balances up to legal limits.

Pros & Cons

Pros:

• Competitive APY (3.65%)
• No monthly fees or minimum deposit
• Easy to open and manage online
• FDIC-insured

Cons:

• No physical branches
• No ATM card for immediate cash withdrawals
• No checking account, so it is limited to online transfers
• Transfer times can take 1–3 business days

If you want the highest possible rate, some online banks may have slightly higher APYs. However, Marcus offers reliability and a strong track record, which may outweigh minor differences in rates for some users.

Details

Marcus by Goldman Sachs is backed by the trusted name of Goldman Sachs Bank USA, offering a high-yield savings account with a competitive APY that adjusts over time. While the rate isn’t fixed, it’s regularly updated to stay in line with the market.

You can’t deposit cash, but linking external accounts for money transfers is simple and usually free, though transfers may take a few days. The account doesn’t include a debit card or checks; everything is managed online or through the Marcus mobile app, with customer support available if needed.

Deposits are FDIC insured up to $250,000 per depositor, giving you peace of mind. On top of that, Marcus uses strong digital security tools to help protect your personal and financial information.

Editor’s Take

You’ll find the Barclays Online Savings account appealing if you value a high annual percentage yield (APY) without traditional bank hassles. The interest rate as of July 2025 is about 3.90% APY, making it higher than most brick-and-mortar banks and above the national average.

Barclays runs entirely online for U.S. customers, so you manage everything from deposits to withdrawals through digital tools. You don’t need to keep a minimum balance, and you can open your account with any amount. While there’s no ATM access, the online platform is user-friendly and has secure encryption.

Pros & Cons

Pros:

• Competitive APY (around 3.90% as of July 2025)
• No monthly maintenance fees
• No minimum balance or opening deposit required
• Easy-to-use online platform

Cons:

• No physical branches in the U.S.
• No ATM card or direct ATM access
• Transfers may take a few days
• Limited types of accounts (mainly savings and CDs)

If you like managing your money online and want higher interest, this account is a good fit. If you often need branch services or ATM access, you may want to look elsewhere.

Details

Barclays offers a high-yield savings account with an APY of around 3.90% as of July 2025—significantly above the national average. This competitive rate helps your savings grow faster without the need for a minimum balance.

There are no monthly maintenance fees and no charges for online transfers, making it a cost-effective option. However, if you choose to open a CD, be aware that early withdrawals may come with penalties.

Account access is fully online, and you can link external bank accounts for easy transfers. While the account doesn’t include an ATM card or access to physical branches, your deposits are FDIC-insured up to $250,000 per depositor, offering strong financial protection.

Editor’s Take

SoFi’s checking and savings account offers up to 3.80% APY as of July 2025 when you set up direct deposit. With no monthly or overdraft fees, it’s a cost-effective option for managing your money. The account is easy to use, with mobile and online banking features.

Additional perks include early paycheck access—up to two days ahead—and built-in budgeting tools within the app. Customer support is available online and by phone for added convenience. For those seeking a simple, all-in-one solution for spending and saving, SoFi is a strong contender.

Pros & Cons

Pros:

• High APY up to 3.80% with direct deposit
• No monthly maintenance or overdraft fees
• Early paycheck access
• User-friendly digital banking tools
• FDIC insured up to $250,000

Cons:

• Best APY requires direct deposit
• No physical branches for in-person service
• Cash deposits are limited
• Out-of-network ATM fees may apply

You get easy online access with strong rates, but not having branches or robust ATM access can be a downside depending on your needs.

Details

You can open a SoFi checking and savings account online with no minimum deposit, and the accounts are linked for easy transfers. To earn the highest APY, direct deposit is required—otherwise, your rate may be lower.

There are no monthly maintenance or overdraft fees, and the app lets you set savings goals, track spending, and deposit checks remotely. SoFi accounts are FDIC insured, offering protection up to federal limits.

This account is ideal for those seeking higher interest on their money, combined with the convenience of digital banking and minimal fees.

Editor’s Take

Citizens Access® Savings stands out because it offers an APY that is well above the national average. The account is online-only, so you handle everything through a secure website or mobile device. This makes banking convenient and fast.

There are no monthly fees and no minimum balance to earn interest, making it accessible if you’re just starting to save. The account is ideal for anyone who wants to earn a higher return on their savings without having to worry about maintenance charges or complicated fine print.

Customer support is responsive, and the website is easy to navigate for tasks like deposits, transfers, and viewing your balance. You should know withdrawals are limited by federal rules, but this is standard for savings accounts.

Pros & Cons

Pros

• High APY: Earns well above the national average interest rate.
• No Monthly Fees: You do not pay ongoing account or maintenance fees.
• No Minimum to Earn Interest: You start earning interest with any balance.
• FDIC Insured: Your funds are protected up to $250,000 per depositor.
• Quick Online Account Setup: Open an account in minutes.

Cons

• No Physical Branches: All banking is online-only.
• Withdrawal Limits: Federal law limits certain withdrawals to 6 per month.
• No ATM Card: No direct ATM access, so you transfer money to another account for cash.
• No Checking Features: You can’t write checks or pay bills directly from this account.

Interest compounds daily and pays out monthly, which helps your savings grow faster. You link Citizens Access® to your checking account at another bank for easy transfers in and out. There are clear disclosures and no hidden clauses, so you always know what to expect from your account.

Editor’s Take

Ally’s Online Savings Account is designed to keep things simple and rewarding. The account stands out for its competitive APY, often around 3.70%, which is above the national average.

You can open an account with no minimum deposit and no ongoing balance requirements. Online and mobile access are easy to use, letting you move money or set up savings goals quickly. Customer support is available through chat, phone, or online message.

Ally does not have any branches, so all services are digital. The account is FDIC insured, and you get 10 free withdrawals per statement cycle. This is a solid choice if you want a straightforward savings account that earns interest and avoids most fees.

Pros & Cons

Pros:

• Higher-than-average APY (about 3.70%) lets your money grow faster.
• No monthly maintenance or overdraft fees.
• No minimum opening deposit or ongoing balance required.
• User-friendly website and mobile app.
• FDIC insurance for up to $250,000 per depositor.

Cons:

• No physical branches, so all banking is online.
• Withdrawal limit: Only 10 free withdrawals per month.
• No ATM card for direct savings access.
• Cash deposits are not accepted.
• Transfers to external accounts can take 1–3 business days.

Details

Ally Bank’s online savings account offers a competitive APY of about 3.70% as of July 2025. You don’t have to worry about any monthly fees. Account setup is quick and can be done entirely online.

You’re allowed up to 10 free withdrawals each month; going over this limit will result in a fee for each extra withdrawal. Savings buckets and automatic savings tools help you organize your money for different goals.

Funds are FDIC insured up to $250,000 per depositor. There are no incoming wire fees or fees for standard transfers, making it easy and affordable to move your money in or out. This account is best for those who can bank digitally and want higher yields without extra charges.

Editor’s Take

You will find that Discover Bank is well-known for being user-friendly and reliable. The standout feature is the lack of monthly fees or minimum balance requirements. This makes it a good option if you want to maximize savings without worrying about hidden costs.

Customer support is available around the clock, so you can get help whenever you need it. Discover’s website and app are both simple to use, which helps you track your money and manage your account easily. The account is suitable for both new savers and those with larger balances.

Discover Bank’s APY is competitive, but some banks may offer slightly higher rates at times. However, the combination of features and reputation makes it a strong choice for dependable, straightforward savings.

Pros & Cons

Pros:

• No monthly maintenance fees
• No minimum opening deposit
• 24/7 U.S.-based customer support
• Easy online and mobile access
• FDIC insured up to $250,000 per depositor

Cons:

• No physical branches for in-person service
• No ATM card with savings account
• May not have the highest APY compared to some online rivals
• Transfers to external accounts can take a day or two

This account keeps your experience easy and fee-free, but you will rely on digital tools to access your savings.

Details

Discover’s high-yield savings account typically offers a competitive APY of around 4.25% as of July 2025, helping your savings grow faster than the national average. There are no minimum deposit requirements or daily balance rules, making it accessible to a wide range of savers.

You won’t be charged monthly maintenance or inactivity fees, and while there may be small fees for outgoing transfers or excess withdrawals, these are clearly outlined on Discover’s website. The account is managed entirely through Discover’s mobile app or online platform, with 24/7 customer support available when needed.

To open an account, you must be at least 18 years old, have a valid Social Security number, and provide a U.S. address. Deposits are FDIC insured, giving you peace of mind that your money is protected.

Editor’s Take

Quontic Bank’s high-yield savings account offers a competitive APY of around 3.75% as of July 2025—well above the national average. You can open the account with just $100 and there are no maintenance fees, making it an easy choice for savers.

All account management is done online through Quontic’s digital platform, allowing easy access from anywhere with an internet connection. While the bank doesn’t have physical branches, customer service is available to assist you when needed.

Your savings are FDIC insured up to $250,000 per depositor, offering a strong layer of financial protection. If you’re comfortable with digital banking and want a solid return on your money, Quontic is a compelling choice.

Pros & Cons

Pros

• Competitive APY: You earn around 3.75% APY.
• No monthly fees: There aren’t any maintenance or hidden charges.
• Low minimum deposit: Start with just $100.
• Easy online access: Manage your account from your phone or computer.
• FDIC insured: Your savings are protected.

Cons

• No physical branches: All dealings are online, which may not suit everyone.
• APY can change: The interest rate may go up or down over time.
• Limited product variety: If you want loans or other account types, options are limited compared to bigger banks.

Details

Quontic’s high-yield savings account compounds interest daily and pays it monthly, which can help your money grow faster. Setting up the account takes a few minutes online. You’ll need your personal information, including your Social Security number, and the $100 minimum deposit.

There are no monthly service fees, and you can transfer money electronically. ATM access is not standard for the savings account, so withdrawals usually happen through transfers to your checking account. Your balance must stay at $100 or more to keep the account open.