Best High Yield Savings Accounts 2024 (APY Rates & Online Accounts)

	Name	Score	Visit	APY	Min Deposit	Welcome Offer	Monthly Fee	Disclaimer
	CIT Bank	9.8	Visit	4.60%	$100	N/A

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Why we picked it

All those schooldays spent learning to draw an apple or climb a rope—when you should have learned how to save and manage your money.

CIT Banks’ online banking helps you to manage your account, create bank reports, set up alerts, and make transfers. With their app, you can also deposit checks remotely.

And CIT Bank isn’t just offering lessons on savings—their checking and money market accounts also come with a 1.55% APY and no monthly fees.

	Name	Score	Visit	APY	Min Deposit	Welcome Offer	Monthly Fee	Disclaimer
	UFB	9.8	Visit	4.81%		N/A

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Why we picked it

Banks love to brag about how their APY is better than the rest. Sure, the banks on our list all offer solid APYs—but UFB (a division of Axos Bank) can stand tall knowing that their APY really is one of the best.

They didn’t name it the “best savings account” for nothing—they offer an APY of 4.81% and no monthly fees or minimum deposits to prove it. They’ve even thrown in a complimentary ATM card—with access to over 90,000 free ATMs all over the country.

If you ever find yourself strapped for cash in a town that you can’t even pronounce—not only do you have plenty of ATMs to choose from, but you can also use their online banking to deposit checks anywhere in the world.

	Name	Score	Visit	APY	Min Deposit	Welcome Offer	Monthly Fee	Disclaimer
	SoFi	9.8	Visit	4.30%		$250

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Why we picked it

Why go to ten different stores for Thanksgiving when you can just get everything from Walmart? If you prefer having everything in one place—SoFi could be your one-stop store for savings.

And just because SoFi offers a bunch of features, it doesn’t mean they’re skimping on saving tools. Their Roundup feature rounds all your debit card purchases to the nearest dollar and sends them to your Savings Vault for safekeeping. You can keep tabs on everything with their mobile app—where you can deposit checks and transfer funds.

But SoFi doesn't stop there—you can also get your hands on a checking account. It comes with a nice4.30% APY after setting up a direct deposit. (You can also get a cash bonus of $50 to $250 depending on your direct deposit amount.)

	Name	Score	Visit	APY	Min Deposit	Welcome Offer	Monthly Fee	Disclaimer
	M1	9.0	Visit	5%		$250	$10.42

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Why we picked it

We’re finishing with one of the best APY savings accounts on our list—an impressive 5.00%. Watch out, though—first, this rate is only for M1 members, and second—this account isn’t available yet. (But, with an APY that high—we had to mention it on our list.)

M1 plans to get their exclusive high interest savings account up and running around early 2024. While the details are still pretty hush-hush, we know that there’s no minimum deposit, and your savings will be FDIC-insured.

If the $125 annual membership is putting you off, hear us out—not only do you get an industry-leading APY, but you’ll also have access to brokerage accounts, crypto trading, margin loans, a rewards credit card, and a 3-month free trial if you need to test the waters before diving in.

	Name	Score	Visit	APY	Min Deposit	Welcome Offer	Monthly Fee	Disclaimer
	Lending Club	10.0	Visit	4.25%	$100	N/A

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Why we picked it

Nobody enjoys being told you can’t eat any of the pies at the buffet, or touch the extra-shiny rock at the museum.

So you’ll be happy to hear that Lending Club gives you the freedom to do what you want—when you want. Lending Club lets you step up your saving game with a bunch of personal finance tools (like spending trackers, trend analysis, and budget templates).

Once you’re ready to go—you can easily link all your external accounts and make free transfers. Lending Club also offers an ATM card with your savings account, along with online and mobile banking. Leaving no stone unturned, you can also open a CD and checking account with direct deposits.

	Name	Score	Visit	APY	Min Deposit	Welcome Offer	Monthly Fee	Disclaimer
	Synchrony	9.6	Visit	4.30%		N/A

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Why we picked it

Variety is great, but sometimes you want what you came for—no distractions and no extras. Synchrony is one of the best online savings accounts because you don’t need to synchronize dozens of different tools and features in your head—saving is the top priority.

And to prove they take it seriously, they have a 4.30% APY and no monthly fees. While Synchrony doesn’t offer many fancy budgeting tools—you get the perks of a debit card that lets you take out cash for free from any ATM with a Plus or Accel logo. You’ll also get a flat cashback rate of 2% on everything.

To ramp up your savings, Synchrony offers some awesome CD and money market rates—free from monthly fees or minimum balances.

	Name	Score	Visit	APY	Min Deposit	Welcome Offer	Monthly Fee	Disclaimer
	Wealthfront Money	9.4	Visit	4.55%		N/A

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Why we picked it

We live in a world where making plans with friends means delaying until you run out of excuses. If you’re someone who thinks ahead and actually sticks to it—this one’s for you.

Even if you’re not a planner, Wealthfront is here to give you a little push. It’s one of the best long term savings accounts as it offers a bunch of tools that deposit cash towards money-saving goals to invest in your future. Wealthfront also lets you keep up to $10,000 stashed away for emergencies and up to $1,000 a month for a down payment.

If you’re keen to invest your cash, you can instantly transfer to your Wealth front Investment Account or an external account for free. With all that money saved up—you can no longer use the “no money excuse” for not showing up.

	Name	Score	Visit	APY	Min Deposit	Welcome Offer	Monthly Fee	Disclaimer
	Bask Bank	9.4	Visit	4.85%		1,000 miles

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Why we picked it

Travel isn’t usually synonymous with saving money—but with Bask Bank you can feel a little less guilty about splashing out on those all-inclusive tickets to sunny Spain.

Alongside their standard high interest savings account, you can try out their Bask Mileage account. For those craving vitamin sea, you can earn two American Airlines AAdvantage miles for every dollar saved annually. And after you end up spending way too much on tapas and sangria—you can withdraw from your Bask Savings or Bask Mileage account at any time.

Bask Bank offers some air-mazing CD rates, ranging from six months to two years. You can easily manage everything online—where you can schedule deposits and make transfers up to $300,000 (more than enough to cover another ten rounds of tapas).

	Name	Score	Visit	APY	Min Deposit	Welcome Offer	Monthly Fee	Disclaimer
	Vio	9.2	Visit	4.88%	$100	N/A

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Why we picked it

Living in the city is fun until the sound of cars beeping, babies yelling, and the thought of slow walkers on the subway starts keeping you awake all night.

So, if the suburbs are calling to you—Vio Bank is for those serious about saving. Whether you’re saving for a house or moving as far away as possible—Vio Bank lets you deposit $25,000 per day and $100,000 through checks.

And if you have that sort of cash—why not fork out the $500 minimum deposit for CDs with term lengths going up to ten years? (Plenty of time to save for that 4-bedroom house with the white picket fence). Aside from the high interest savings account and CDs—you can also open a money market account for just $100.

	Name	Score	Visit	APY	Min Deposit	Welcome Offer	Monthly Fee	Disclaimer
	Varo	9.2	Visit	3.00%–5.00%		N/A

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Why we picked it

Time flies by, especially when you’re working extra hours, raising kids, and trying to finish the Netflix series you started a year ago—saving doesn’t exactly make it on the list of top priorities.

But Varo is here to help you out with its automatic saving tools. Their “Save Your Pay” feature takes a percentage of your direct deposits and puts them into your savings. They also have a “Save the Change” tool where they’ll round up all your transactions to the nearest dollar and transfer to your savings account.

You can also earn a competition-smashing 5.00% APY, but there’s a catch—you’ll need to receive direct deposits of $1,000 or more and finish the month with a positive balance in your standard Varo account and savings.

Here’s how high yield savings accounts work— Imagine you have $10,000 in savings. With the national average of 0.24% APY, you’ll only earn $24 over the year.

However, in a high yield account with a 4.00% APY, that $10,000 will see returns of $400 in a year. (Enough for a well-deserved spa getaway. Um, of course, I meant a beefed-up emergency fund.) You can check out this article to see exactly how much interest you’ll be earning.

If you’ve already made the rounds looking through different accounts, you’ve probably seen the not-so-subtle “best APY savings account” scattered over the internet.

The Annual Percentage Yield is the interest you earn on the money you save—and it’s something to keep an eye on if you want to make the most out of your savings. If you’re set on a high-yield account, you’ll want to get your hands on an APY that’s 3.50% or higher.

High yield savings accounts are also among the best compound interest accounts—which essentially let you earn interest on top of your previous year’s interest. (After all, if you’ve turned down a summer vacation to Europe in favor of a “staycation” in a tent—you deserve to be rewarded for your willpower.)

So, you’ve found the best savings account for you—it has a great APY, cool features, and an ATM card thrown in. But before you sign on the figurative dotted line—don’t forget to read the fine print. Fees can come in all shapes and sizes, such as—

• Monthly fees

• Minimum deposits

• Annual membership costs

• Internal and external transfer fees

• Cash deposit charges

• ATM costs

Sometimes, the impressive APY can justify the extra fees—but it can’t hurt to weigh up the competition to make sure you’re getting a good deal.

Saving is all well and good—but at some point, you might need to splash out and fix that old tap that won’t stop dripping. That’s why opting for a bank that also offers a checking account is a handy all-in-one solution (even better if they add an ATM card into the mix).

And what about a high yield savings account vs a money market account?

If you’re a seasoned saver, a money market account can give you both checking and saving abilities—but with a capped amount of transfers and purchases.)

If you can resist the urge to dip in and out of your savings, many banks also include CD (certificate of deposit) accounts—where you can put down a lump sum of money for a fixed period in return for some generous interest rates.

Are you the type of person who remembers your 9 a.m. dentist appointment at 11 a.m. (two weeks later)? If this sounds familiar, look out for saving tools that can keep you up to speed. (You can opt for scheduled deposits, budget planners, and automated savings—so you never skip a beat.)

If you prefer to keep it simple—there are many basic perks that you can benefit from. Having access to a range of ATMs can be handy if you need cash fast, as well as transfers to and from external accounts—especially if it’s all free of charge.

Having a goal will help you figure out how much you need to put away each month and what type of account you’ll need to achieve your targets.

To apply online, just follow the link on the website and enter some personal details, such as—

• Your name

• Date of birth

• Place of residence

• Social security number

• Phone number, or email address

If you’re opening a joint account, you’ll also need to give the same information for the other account holder.

To get started, submit the amount you want to deposit into your new savings account. You’ll also need to provide your bank account and routing number to link to your bank accounts.

Stashing your dollar bills in a box under your bed is fine—until your kid mistakes it for colouring paper. Keeping your cash in a savings account is the best way to keep your money safe. Most banks have advanced security measures, insurance to protect your funds, and no curious children on the prowl.

One of the best things about a high-yield savings account is the interest rates you can earn—even going up to $500 a year. Some banks also offer welcome bonuses and reward schemes to help you out (and keep you coming back for more).

Ultimately, having the best savings account for your preferences will give you some peace of mind. If you ever need a weekend break, a new place to live, or that top-notch air fryer—it’s nice to have some money there when you need it.

High APYs are usually enough to suck you in—but beware of any hidden fees lurking about. Extra expenses can include monthly, membership, or transfer fees—which can all add up in the long run.

Having physical cash might not be the safest option—but it gives you plenty of freedom. While online banks try to be flexible, some can restrict the amount you transfer or withdraw—so make sure you check the fine print before you seal the deal.

Whether you have a touch of technophobia or just like keeping things traditional—unfortunately, almost all high-yield accounts are online. You can still deposit checks and make withdrawals—but you’ll have to get up to speed with all the tools and features if you want to take advantage of everything on offer.