Advertiser Disclosure: Many of the offers appearing on this site are from advertisers from which this website receives compensation for being listed here. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). These offers do not represent all account options available. *APY (Annual Percentage Yield).
Rates / Annual Percentage Yield terms are current as of the date indicated. Rates are subject to change without notice and may not be the same at all branches. These quotes are from banks, credit unions, and thrifts, some of which have paid for a link to their website. Bank, thrift, and credit unions are member FDIC or NCUA. Contact the financial institution for the terms and conditions that may apply to you.
Editorial Disclosure: This content is not provided or commissioned by the bank advertiser. Opinions expressed here are the author’s alone, not those of the bank advertiser, and have not been reviewed, approved, or otherwise endorsed by the bank advertiser. This site may be compensated through the bank advertiser Affiliate Program.
Best high-yield savings accounts of October 2025
Find the best savings account for your financial goals based on interest rates (APY), monthly fees, free ATM access, & other features.
The best savings accounts are more than just places to put your money -- they can also help boost your savings significantly.
With highly competitive savings rates and little to no fees, these accounts are our top recommendations for savers who seek to maximize interest earnings on their cash savings.
We have analyzed more than 100 savings accounts from the top banks across the country and selected the best options for your savings goals.
The Huntington Bank Premier Savings Account comes with a goal-setting tool and the Money Scout program analyzes your Huntington checking account spending to move money into your savings account automatically.
If growing your savings is your key motive for opening an account, then a high-interest savings account is what you’re looking for.
We analyzed savings accounts from the top traditional banks, online banks, and credit unions to identify the ones that offer the highest and most consistent rates and low-fee savings accounts, helping you grow your savings faster.
The highest-tier savings accounts are similar in that they provide market-leading savings rates. However, the slight differences may matter depending on your savings habits and preferences.
Read our editor’s savings account reviews from the top financial institutions:
Marcus by Goldman Sachs Online Savings
The Marcus by Goldman Sachs Online Savings account keeps it simple when it comes to saving.
In addition to one of the top interest rates, the account comes with no monthly or transaction fees. So you can focus on growing your savings. The Marcus mobile banking app lets you keep tabs on your account from your smartphone.
Marcus by Goldman Sachs Savings Account Pros & Cons
The American Express® High Yield Savings Account is another popular option for a reliably competitive savings rate, and the brand is noted for top-notch customer service.
The account has no monthly fees and $0 to open.
American Express® High Yield Savings Account Pros & Cons
The Ally Bank Online Account helps savers stay focused on building their deposit balance with helpful tools to stay on track.
Customers can create digital buckets (subaccount) within the account designated toward specific savings goals. You can also link a checking account, and Ally will analyze your cash flow to transfer money to your savings automatically (without interrupting your recent financial patterns).
Additionally, the account comes with no monthly fees.
The account has no monthly maintenance fee or any other account service fees. (Transactions that would typically incur a fee — such as an excess withdrawal — may be denied.)
Capital One is a brick-and-mortar bank with one of the best mobile banking apps with great design, easy navigation, mobile check deposit, Zelle payments, and more.
Capital One 360 Performance Savings Account Pros & Cons
Pros
Subaccounts allowed
No monthly maintenance fee
No excess withdrawal fee
Mobile apps available
Cons
No ATM withdrawals (including from Capital One ATMs)
A high interest rate is great, but not if you can’t count on remaining at that level. That’s why we keep track of banks that offer the most consistent interest rates on savings accounts.
Discover Bank is hyper-focused on helping customers build savings, and its savings account is designed for that common financial goal.
As one of the biggest online banks, it has kept savings rates competitive consistently — so you don’t have to keep switching banks in search of a high APY.
Moreover, the account comes with no monthly fee, and the mobile banking apps allow you to access your account anytime from anywhere.
On the surface, savings accounts seem simple, but there are several factors that you need to pay attention to when picking a savings account:
Interest rates
The interest rate is one of the most important aspects of a savings account. It can be the difference between losing to inflation and keeping pace. It can also accelerate your progress toward long-term savings goals.
If you’re earning no interest, reaching your goal will take 150 months or 12.5 years. If you’re earning 5% interest, it will take you less than ten years.
You’ll have contributed $12,000 and earned more than $3,000 in interest after ten years. More than 20% of the money for your down payment will have come from interest.
Why high interest rates are important
After X Years…
Average Savings APY at Top National Banks: 0.026% APY
Average Savings APY at Top Online Banks: 3.00% APY
0
$10,000
$10,000
1
$10,003
$10,305
3
$10,008
$10,942
5
$10,013
$11,618
10
$10,026
$13,498
Total interest earned after 10 years
$26
$3,498
Many online banks offer savings interest rates with higher APYs than national banks. Some credit unions may also offer higher rates on limited amounts if you meet balance and transaction requirements.
You might be willing to pay the occasional fee if you have a big chunk of change in your savings account, and that tasty interest rate makes it worth your while.
However, that interest rate you signed up for might not be the one you’re getting a year, six months, or even three months down the road. And then, your account choice might not look like a good choice anymore.
This is commonly called a teaser rate or an introductory rate, and the difference between what you get going in and what it changes to can be drastic, with your interest payments sometimes being cut nearly in half.
Many banks won’t be completely forthright about how much you’ll be charged for certain services. We read the fine print to ensure you get the best and most consistent rates for your savings account.
Note: Not all banks will use teaser rates.
Fees and minimums
Fees and minimums are the other major aspects of savings accounts you must watch out for. The entire idea of a savings account is for it to be a safe place for your money.
You can hardly call a savings account “safe” if your bank will take the money from you with fees.
Maintenance fees
You may think that banks are happy to have your business, but many banks charge a fee for you to maintain an account with them.
The fees can range from $6 to $8, which may not sound as much per month but can add up to a hefty yearly sum.
If you’re keeping only a few hundred dollars in the account, the sum would be much less than the savings yield you’re getting.Bank of America, for example, has an $8 monthly fee on its basic savings account. Chase has a $5 fee for its Chase Savings account.
Since the interest rate at both banks is so low, those fees can quickly outpace the interest you can earn.
There are usually ways to avoid fees on savings accounts. Bank of America will waive its savings account fee if you maintain a $500 minimum balance.
You can also avoid the fee if you have a checking account with Bank of America. Similarly, Chase will remove the fee with a minimum balance of $300 or a monthly repeating transfer of $25 from a Chase checking account.
Banks use fees to encourage their customers to act in specific ways.
Savings Account Minimum Balances to Avoid Monthly Fees
If you don’t hit the minimum balances, some institutions will charge you if you don’t have another account at the same bank, like a checking account. This can limit your options when it comes to diversifying your banking.
Mathieu Despard
Associate Professor of Social Work, University of North Carolina, Greensboro
Every American deserves an opportunity to build savings.
Banks should offer savings accounts for free — no maintenance fee and no minimum monthly balances — as a cost of doing business. These accounts should be linked to checking accounts that meet Bank On National Account Standards.
If you use an ATM outside your bank’s network, you could be slapped with fees both by your bank and the bank to which the ATM belongs.
Paper fees
Going green has perks that go way beyond the environmental benefits. Used or canceled checks are now saved as digital images; this is fine for many.
However, when the time comes that you may need a copy of your check for tax purposes, for instance, you’d have to pay for it.
The same holds for bank statements and other paper documents.
The good news is most banks only charge when you request a copy of an old check or statement.
If you request for your checks to be delivered with your paper statement monthly, you’ll get both free of charge.
Closing account fees
If your bank fees get bad and you want out after only a few months, don’t expect them to make it easy.
For the brief period they have served you, and for closing an account, whether it’s less than 90 or 180 days, you may need to pay a small fee.
Recurring transfers
The ability to set up recurring transfers is a very useful feature for a bank account.
Recurring transfers can send money to an investment account, move it to a vacation account, or otherwise automate your financial life.
If you’re saving up for multiple financial goals simultaneously, recurring transfers make it easy without spending hours entering transfer requests.
Setting up a recurring transfer should be a free feature at banks that offer it. Savings accounts are designed to make your financial life easier, and recurring transfers take that a step further.
Withdrawal limits
You have the best intentions to build larger savings, but reality creeps in when you’re not expecting it.
There may be times when you’ll have to access those funds for urgent matters. It could be once a month or several times a month.
Just note that some banks will start charging after three or four withdrawals per month. If these withdrawals become frequent, the bank could automatically convert your savings account to a checking account or close your account entirely.
$5 after the first 6 withdrawals (fee waived for Chase Premier Savings accounts with a balance of $15,000 or greater, or $25,000 or greater in Chase Business Premier Savings accounts)
No charge, but if this happens on more than occasional basis, the bank reserves the right to close the account
Overdraft protection
Overdraft fees are big business for banks. The banks, in turn, often offer a way for you to use your savings accounts to “protect” you from these fees. But they don’t completely protect you and only lessen the burn.
Overdraft protection works by linking your savings account to your checking account and automatically transferring funds to cover should you accidentally overdraft your checking.
It sounds like a nice enough feature, and it makes sense. After all, you had the money — just not in the right account—anything to avoid that $38 overdraft fee.
The problem is, this service often isn’t free. You’re being protected from overdraft, to be sure, but you’re still paying something for the service.
Overdraft transfer fees cost about one-third of your typical overdraft fee.
So, while you are paying less than normal, you’re still being charged — making this one important feature. This is one feature to inquire about when evaluating your top savings account options.
Other Important Features
There are some other features we look for in savings accounts that can enhance an account:
Sub-accounts
Some banks let you separate your savings account into multiple pools of cash. You can add a nickname like “vacation fund” or “down payment” to those sub-accounts. That makes it easy to track multiple goals at once.
A high-quality mobile banking app can also make or break the savings account experience. Transferring money or checking your balance in a pinch is a helpful tool. Once you get used to it, not having those options isn’t easy.
Automatic savings programs
Other features, like Bank of America’s Keep the Change program, can help you save in other ways. Knowing all the miscellaneous features a savings account offers can help you decide on the right account.
The full faith and credit of the U.S. government backs the FDIC. That means you don’t have to worry about the FDIC running out of money. Every dollar you put in a savings account is completely safe.
Why Do Online Savings Accounts Top Our Picks?
Online banks don’t have to charge fees to stay afloat due to their low overhead costs. Online banks can centralize their operations by avoiding renting buildings and hiring tellers for physical locations.
This greatly reduces the cost of running the bank. Online banks also understand that it can be difficult not to have a physical location to visit when you need to withdraw or deposit cash.
That’s why most online banks refund ATM fees (limits may apply).
Online banks can also offer high interest rates because of their lower costs. As a bonus, online banks tend to have excellent mobile and online apps since they’re the main interface customers will use.
Credit unions can also offer low fees and high interest rates for a reason different from online banks.
Credit unions are owned by the people who open accounts with them.
That means they will always be run to maximize account holders’ benefit. However, credit unions have eligibility requirements that must be met before you can become a member.
Higher APYs
An online savings account can be a great way to stash away your cash and earn interest.
It’s better than putting your extra money in a buried coffee can in the front yard or its bank equivalent, the interest-free checking account.
Many do not realize that certain savings accounts can cost you money while earning a negligible interest rate.
The associated fees could more than cancel out the money you will earn. So, your balance could get smaller with each passing month. A coffee can isn’t looking too bad now.
Banks can use several tricks to keep you from noticing discrepancies when opening a savings account.
This deposit account can be a risk-free place to sock away cash until you figure out what else to do. But you must ensure hidden fees or other costs won’t blindside you.
Frequently Asked Questions
Is your money safe in an online savings account?
Yes, your money in an online savings account is safe because your deposits are insured by the FDIC (up to the eligible limits) just the same as a savings account from a brick-and-mortar bank.
Online banks are FDIC-insured too. In fact, the most popular online banks are some of the biggest U.S. financial institutions (by deposits).
Where can you get the most interest on my savings?
You’re likely to earn the most interest on your savings from an online bank. An online bank is able to offer market-leading interest rates because it doesn’t have to pay the high operating costs of running a physical network of branches and ATMs.
Without having to pay expenses for real estate, employee staffing, security, insurance, maintenance, and utilities, customers of online banks benefit from higher savings rates and lower (and fewer) fees.
How many times can you transfer in and out of my savings account?
Under federal law, you cannot make more than six (6) withdrawals or transfer out of your savings account per month. Banks may charge an excess withdrawal fee after the sixth withdrawal or transfer per month.
Additionally, if you make excess withdrawals on a regular basis (ultimately determined by the bank), the bank may choose to close your account or convert the account into a checking account.
Note:Some banks charge a withdrawal fee before the 7th withdrawal. For example, the bank might charge such a fee upon the 5th withdrawal.
For this guide, we reviewed over 50 popular savings accounts from the top U.S. banks, credit unions, and financial services providers.
The Best Savings Accounts were selected based on the consistency of high interest rates, fees, minimum balance requirements, account features, banking experience, and more.
Editorial Note: Any opinions, analyses, reviews, or recommendations expressed in this article are those of the author and have not been reviewed, approved, or otherwise endorsed by any savings product issuer.
Simon Zhen is the chief research analyst for MyBankTracker and an expert on consumer banking products, bank innovations, and financial technology.
Simon has contributed and/or been quoted in major publications and outlets including Consumer Reports, American Banker, Yahoo Finance, U.S. News - World Report, The Huffington Post, Business Insider, Lifehacker, and AOL.com. Education: Education: B.S. in Health Sciences from Stony Brook University.
Annual Percentage Yield (APY) is subject to change at any time without notice. Offer applies to personal accounts only. Fees may reduce earnings. For High Yield Savings accounts, the rate may change after the account is opened. Visit synchrony.com/banking for current rates, terms and account requirements. Member FDIC.
Advertiser Disclosure: Many of the offers appearing on this site are from advertisers from which this website receives compensation for being listed here. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). These offers do not represent all account options available. *APY (Annual Percentage Yield).
Rates / Annual Percentage Yield terms are current as of the date indicated. Rates are subject to change without notice and may not be the same at all branches. These quotes are from banks, credit unions, and thrifts, some of which have paid for a link to their website. Bank, thrift, and credit unions are member FDIC or NCUA. Contact the financial institution for the terms and conditions that may apply to you.
Editorial Disclosure: This content is not provided or commissioned by the bank advertiser. Opinions expressed here are the author’s alone, not those of the bank advertiser, and have not been reviewed, approved, or otherwise endorsed by the bank advertiser. This site may be compensated through the bank advertiser Affiliate Program.
