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Looking to boost your savings? As of mid-2025, many online banks are still offering very high yields on savings accounts – roughly 4–5% APY – compared to the national average of only about 0.4–0.6% nerdwallet.comally.com. For example, NerdWallet’s top list shows accounts like Axos Bank at 4.66% and My Banking Direct at 4.40% nerdwallet.com. These rates are 10 times higher than what a typical brick-and-mortar bank pays, so even a modest savings balance can grow surprisingly fast. The cheerful piggy bank below is happy about those gains – and you can be too. (All rates cited are as of May 2025 and can change.)
High-yield savings accounts are great for keeping an emergency fund or short-term goals without risk: your money is liquid and FDIC-insured (up to $250,000 per depositor, per bank). Unlike stocks or crypto, your principal is safe, yet you still earn substantial interest. Most of the top online savings accounts have no monthly fees and no minimum balance requirements ally.commarcus.com, so you can start earning big interest right away. And since they’re online, you manage everything in a mobile app or website – often with extra tools like automatic transfers and savings buckets. Below we highlight some of the highest-yielding choices for various needs.
How High-Yield Savings Work (in 2025)
High-yield savings accounts work like regular savings accounts but pay much more interest. In 2023–2024 the Federal Reserve raised rates multiple times, and many online banks quickly followed, raising their APYs. Even though the Fed paused rate hikes in 2025, top APYs remain unusually high. For context, the FDIC’s published average savings rate was only 0.41% in April 2025 ally.com, whereas accounts in our roundup pay 4–5% (or higher on a portion of balances) nerdwallet.combusinessinsider.com.
All the banks below credit interest daily and pay it monthly. Keep in mind APYs can change at any time – it’s wise to check current rates before opening an account. Also note that federal rules limit certain savings withdrawals to 6 per month (many banks enforce at least 6–10 free withdrawals per statement cycle ally.com), so these accounts are best for saving, not day-to-day spending.
Key factors to compare:
Annual Percentage Yield (APY): This is the main attraction. Top pure savings accounts in 2025 offer around 4.0–4.5% APY off the bat businessinsider.com, while some “conditional” offers (see Varo/SoFi below) go up to 5.00% on part of your balance varomoney.com. Always compare APYs and any tiered structure or bonus conditions.FDIC Insurance: Ensure the account is FDIC-insured (or NCUA for credit unions) so your deposits (up to $250k per owner) are safe. All the U.S. banks here are FDIC members marcus.comwise.com. Even fintech platforms like Wise pass through FDIC coverage to partner banks wise.com. (Revolut’s U.S. “Vaults” are not FDIC-insured – they’re invested and can lose value revolut.comrevolut.com.)
Fees & Minimums: We like accounts that charge $0 fees and have $0 or very low minimum deposits. For example, Ally Bank and Marcus by Goldman Sachs both have no monthly fees and no minimum balance ally.commarcus.com. By contrast, some specialty accounts require a few hundred dollars or more to open.
Mobile app & tools: Today’s accounts come with apps for iOS/Android that let you deposit checks, automate savings, set goals, etc. Ally offers “Buckets”, round-ups and “Surprise Savings” autotransfers to help you save more ally.com. Marcus has a slick app and 24/7 customer support marcus.comally.com. Chime, Varo and others also have popular apps.
Customer Support: Look for banks with strong support if you need help. Ally and Marcus advertise 24/7 live help ally.commarcus.com. By contrast, some purely online credit unions (like LendingClub’s High Yield Savings) offer only business-hour support.
Together, these factors will determine which account best fits your style. Below we cover top options in each category.
Top U.S. Online High-Yield Savings Accounts
Varo Bank – Up to 5.00% APY (on first $5K)
Varo Bank is a mobile-only bank (Varo Bank, N.A., Member FDIC) that offers one of the highest advertised rates around – 5.00% APY on balances up to $5,000 varomoney.com. Any amount above $5K still earns a solid 2.50% APY. The catch: to qualify for the 5% rate, you must receive at least $1,000 in direct deposits per month and maintain a positive balance varomoney.com. (After qualifying, you keep the 5% rate for that month.) If you don’t meet that, you earn a lower base rate of 2.50%.
Varo charges no monthly fees and has no minimum opening deposit. All deposits are FDIC-insured through its sponsor bank. Its app is highly rated, and Varo offers features like Early Direct Deposit (get paychecks up to 2 days early). According to Motley Fool, “the Varo savings account offers one of the highest APYs we’ve seen” varomoney.com. Bottom line: If you can consistently funnel $1,000+ of payroll into your Varo checking or savings each month, this account will earn an eye-popping 5% on your first $5K varomoney.com. Even if you don’t meet the direct-deposit rule, the 2.50% base rate is still competitive by today’s standards. (Note: Varo’s high APY is variable and can change at any time.)
Synchrony Bank – 4.00% APY, No Min
Synchrony Bank’s High-Yield Savings Account is a simple, no-frills option paying 4.00% APY on all balances businessinsider.com. There are no monthly fees or minimums. You can open it fully online and fund via electronic transfer. Synchrony doesn’t offer a checking account, so you’ll transfer money in/out by ACH. You also get an optional ATM card (with a $5 monthly reimbursement for out-of-network ATM fees).
This 4.00% rate is highly attractive and “higher than other high-yield accounts at popular banks like Ally or Marcus” businessinsider.com. (By comparison, Ally and Marcus rates are currently in the 3.6–3.8% range – see below.) Synchrony compounds interest daily and is FDIC-insured businessinsider.com. Bottom line: A great choice if you want a strong APY with no strings attached. (Business Insider noted Synchrony’s rate was beating brick-and-mortar banks and peppy fintech options businessinsider.com.)
Ally Bank – ~3.60% APY, $0 Fees/Min
Ally Bank is one of the most popular online banks for everyday Americans. Its Online Savings Account currently earns about 3.60% APY (RateBrain data as of May 2, 2025) ratebrain.com. Like Synchrony, Ally charges no monthly maintenance fee and has no minimum deposit ally.com. You can open an account in minutes and start saving. Ally’s strengths include a clean mobile app, tools like “Buckets” and round-ups for micro-saving ally.com, and 24/7 customer support (by phone, chat or email) ally.com. The account is FDIC-insured up to $250k.
At 3.6% APY, Ally’s rate is solid, though a bit below the very top offers. But Ally shines with its user experience: for example, it lets you set up automatic “Surprise Savings” transfers based on your spending patterns ally.com. It also enforces the usual withdrawal limit (10 per month) ally.com. Bottom line: Ally is a well-rounded pick for beginners – you get a very respectable APY with no fees, a great app, and award-winning customer service. It’s ideal if you already bank at Ally (they also have checking and CDs) or want a highly reputable, easy-to-use option.
Marcus by Goldman Sachs – 3.75% APY, No Fees/Min
Marcus (Goldman Sachs Bank USA, Member FDIC) offers an Online Savings Account at 3.75% APY as of May 2025 marcus.com. Like Ally, Marcus has no fees and no minimum balance marcus.com. One advantage is customer service: Marcus provides 24/7 support, same-day transfers (for eligible amounts), and even a savings interest calculator marcus.com. The Marcus mobile app is intuitive, and you can set up goals and reminders. Funds are FDIC-insured and SIPC-insured as applicable.
While its APY is slightly higher than Ally’s, it’s still below the top tier (Synchrony’s 4.0% and Varo’s 5.0%). Marcus is a solid choice if you value the backing of Goldman Sachs and round-the-clock help. Note Marcus will process inbound transfers by 12pm ET and has a $100k same-day transfer limit marcus.com. Bottom line: Marcus is great for savers who want an easy, fee-free account with friendly support. Its 3.75% APY marcus.com beats most brick-and-mortar banks (average ~0.4%) by almost 9x ally.commarcus.com.
SoFi Checking & Savings – 3.80% APY (with conditions)
SoFi Bank’s combined Checking & Savings account can earn up to 3.80% APY on your savings balance sofi.com. (By default the savings rate is 0.50%, but SoFi users qualify for 3.80% APY by meeting either of two conditions each month: having an eligible direct deposit, or depositing $5,000 or more in any combination of paychecks/transfers sofi.com.) SoFi’s account is FDIC-insured and has no maintenance fees or minimums. You also get a debit card, ATM access, and budgeting tools in the SoFi app.
SoFi is technically an online bank (SoFi Bank, N.A.), but it’s well-known as a fintech with other products (loans, investing). Its 3.80% rate is among the better accessible rates (no balance cap) sofi.com. Just remember you must meet the qualifying deposit rule (direct deposit or $5k in) every cycle to get the 3.80% rate; otherwise you earn a lower APY. Bottom line: If you already like SoFi’s ecosystem, you can stash emergency funds here and earn 3.80% when you hit the conditions sofi.com. Otherwise, for truly no-strings APYs, Synchrony or Ally are higher.
Apple Card Savings – 3.75% APY on Daily Cash
If you have an Apple Card (issued by Goldman Sachs), Apple now lets you open a linked savings account for your Daily Cash rewards. The Apple Savings account pays 3.75% APY (as of March 26, 2025) learn.applecard.apple on the funds you move into it. It’s also through Goldman Sachs (FDIC-insured) and has no fees. You manage it entirely in the iPhone Wallet app – any Daily Cash you get (2–3% cash back on purchases) can be directed here to earn interest. You can also manually add money from linked bank accounts.
This is a clever way to save your cashback earnings (and any extra deposits) at a high rate. However, the Apple Savings account has a $250,000 cap and only works for Apple Card holders. And since it’s tied to a credit card, it’s more niche. Bottom line: If you already use Apple Card and get a decent stream of Daily Cash, this is a convenient 3.75% APY option learn.applecard.apple. Otherwise, it’s a secondary choice compared to a traditional savings account, because you’re limited by the credit-card framework.
Neobank & Fintech Alternatives
Chime (Member Bancorp/Stride Bank) – 2.00% APY (Free) or 3.75% APY (Chime+ Member)
Chime is a popular mobile bank. Its basic High-Yield Savings pays 2.00% APY on all balances chime.com. However, if you subscribe to Chime+ (a $5/month membership), the rate jumps to 3.75% APY chime.com (this is a credit union account, Stride Bank). Chime also requires no fees or balance minimums. The drawback: 3.75% is only available under Chime+, and they also require a small monthly deposit (at least $200 per month) to qualify. The free 2.00% is automatically earned, which is still competitive.
Chime’s app is user-friendly and it offers free nationwide ATMs, early paycheck access, and no overdraft fees (up to a point). However, it’s not FDIC-insured directly – rather your funds are FDIC-insured up to $250k through Stride or Bancorp Bank (you have to sign up to see details). Also, customer support is mostly in-app. Bottom line: Chime is a solid entry-level option, especially if you already use it for checking. Its 2% base APY is decent, and 3.75% via Chime+ chime.com comes close to top rates (but with a monthly fee). Compare Chime vs. others if you’re considering a paid membership for the higher yield.
Wise (formerly TransferWise) – 3.92% APY on USD Balances
Wise is a multi-currency finance app. In 2023 it launched an “interest” feature for USD (and GBP/EUR) balances. U.S. users with a verified Wise account can opt in to earn interest, currently 3.92% APY on USD balances wise.comwise.com (rate as of April 3, 2025). This is paid from interest Wise earns at its partner bank. Crucially, Wise’s interest is not from a “savings account” in the traditional sense, but you get passthrough FDIC insurance: Wise holds your USD in an FDIC-insured U.S. bank, so it’s protected up to $250k wise.com.
There is no minimum deposit – you can start earning on as little as $1. The downside: there’s no debit card or ATM; it’s essentially a way to park cash with high yield. You must have a U.S. SSN/EIN and be a U.S. resident. Wise’s interface is web/app-based (no branch). Bottom line: Wise is handy if you already use its account for global transfers or multi-currency. Earning ~3.92% APY wise.comwise.com on idle cash is great, but remember it’s a fintech structure (although fully backed by FDIC insurance).
Revolut (U.S.) – 2.75–3.50% APY Savings Vaults (Non-FDIC)
Revolut is a British fintech that now offers U.S. dollar savings “Vaults” within its app. Standard (free) users can earn up to 2.75% APY, while Premium/Metal subscribers can earn 3.50% APY revolut.comrevolut.com. There’s no minimum to open a Vault. However, these Vaults are essentially money-market or investment accounts (not FDIC bank deposits). Revolut explicitly notes the funds are “Not regulated. Value can go down.”revolut.com. In practice, Revolut’s U.S. Vaults invest in short-term funds, so your balance can fluctuate.
Revolut is more for tech-savvy users who understand the risk. If you want the highest guaranteed rates, stick to FDIC-insured banks. But for comparison: 3.5% is competitive, albeit after fees (Revolut charges a monthly Premium fee). You also get Revolut’s other perks (global card, crypto trading, etc.). Bottom line: Consider Revolut only if you’re comfortable with its structure. For a U.S. audience, it’s not a direct replacement for a bank savings account because of the investment element.
N26 (Europe) – ~2.25% APY (Metal Plan, ECB-Linked)
(Note: N26 exited the U.S. market in 2021. It remains a major neo-bank in Europe.) N26’s European accounts offer an “Instant Savings” feature linked to the ECB deposit rate. New N26 Metal customers earn about 2.25% annual interest on savings n26.com (with lower rates on the standard accounts). Withdrawals are instant and unlimited, and deposits up to €100k are guaranteed by German deposit insurance. This is not available to U.S. residents, but we mention it as an example of high-yield fintech saving abroad.
Bottom line: U.S. savers don’t need to chase N26; instead, consider the above U.S. options. (The lesson is that even in Europe, high-yield savings usually hover in the 2–3% range for top accounts n26.com.)
Other Noteworthy Accounts
Bread Savings (Alliance Association Bank) – 4.35% APY, $100 Min nerdwallet.com. A fintech-backed credit union online account. No monthly fees.
BrioDirect (Webster Bank) – 4.35% APY, $5,000 Min nerdwallet.com. No fees.
Popular Direct (Popular Bank) – ~4.05% APY, $100 Min. Puerto Rico’s Banco Popular offers a U.S. branch account. No monthly fee.Bask Bank – 4.20% APY, $0 Min nerdwallet.com. Owned by CTSFCU, no fees.
TAB Bank – 4.26% APY, $0 Min. FDIC insured.
Forbright Bank – 4.25% APY, $0 Min. FDIC insured (known via ConsumerAffairs).
CIBC Bank USA – ~4.21% APY, $1,000 Min. FDIC insured (U.S. branch of Canadian bank).
Barclays Online Savings – ~4.10% APY, $0 Min. FDIC insured.
Live Oak Bank – 4.10% APY, $0 Min. FDIC insured.
These smaller or niche banks can beat the big brands on APY nerdwallet.comnerdwallet.com. The tradeoff is sometimes higher opening requirements or less-known platform. But they are all FDIC-insured and can be worth considering if you qualify. For example, Bread requires only $100 to open nerdwallet.com and pays 4.35%, which outpaces Marcus. Just be sure you meet the minimums.
How to Choose and Compare Accounts
When picking a high-yield savings account, weigh the above factors. Here are some quick tips:
APY vs Conditions: If you want the absolute highest APY (4–5%), accounts like Varo or SoFi can deliver—but remember their direct-deposit requirements varomoney.comsofi.com. If you prefer simplicity, a flat-APY account like Synchrony (4.00%) or Ally (3.60%) may suit you better businessinsider.comratebrain.com.
Minimum Deposits: Check any required deposit. Some accounts (BrioDirect: $5K, Bread: $100) need more to open briodirectbanking.comnerdwallet.com. If you’re just starting out, pick one with $0–$100 minimum.Mobile Experience: Almost all these are online-only. Read app reviews or try signing up to see how user-friendly the website/app is. Look for helpful tools: Ally and Marcus have savings goals and alerts; apps should allow mobile check deposit if you need it.
Customer Service: If you want live phone support anytime, Ally and Marcus lead ally.commarcus.com. Others (like Bread, TAB, or some credit-union accounts) may offer only limited chat or email help.
Promotions/Bonuses: Occasionally banks offer cash bonuses for new accounts (e.g. $100 for depositing funds). While not the main focus here, it’s worth a quick check if you’re planning a large deposit.
FDIC Coverage Details: Ensure you don’t accidentally exceed $250k in one bank or institution. Some banks (like Axos) even offer expanded coverage options. For example, Axos ONE lets you access additional FDIC protection for large balances (up to $265 million for eligible customers axosbank.com). But unless you have enormous savings, the standard $250k is plenty.
Ease of Transfers: Check how quickly you can move money in/out. Most offer ACH transfers in 1–3 business days. Synchrony and Marcus boast same-day transfers up to $100k if requested early enough.
Regulatory Limits: Remember the federally recommended cap of 6 transfers per month on savings. Many banks still enforce a limit (Ally allows up to 10 withdrawals/cycle ally.com, others may still use 6). Plan accordingly if you need to move money often.
Example Comparison: A $10,000 balance in each account under current rates:
At 4.00% APY, you’d earn about $400/year (20 cents a day) businessinsider.com.
At 3.60% APY, about $360/year.
At 3.75% APY, about $375/year marcus.com.It doesn’t sound like much per day, but over years and higher balances it really adds up on top of what a regular account would pay. And unlike stocks, it’s guaranteed interest (for FDIC accounts).
Final Thoughts
High-yield savings accounts are low-risk, high-convenience tools for stashing emergency cash or short-term goals. In today’s environment, you don’t have to settle for pennies of interest. By moving your money into one of the above FDIC-insured accounts, you’ll lock in a far higher return with the same safety as any bank. Always verify the latest APYs and terms on the bank’s website before you apply, since rates can shift.
To choose the best account for you, consider whether you prefer the very highest APY (maybe with a qualification) or the simplicity of a flat-rate account. If you want no strings and 24/7 help, Ally or Marcus are excellent. If you can funnel consistent direct deposit, Varo’s 5% is tough to beat varomoney.com. If you’re already in a particular ecosystem (Apple, SoFi, etc.), take advantage of that integration.
Ready to earn more on your savings? Compare the top picks above and apply online in minutes – many accounts have instant approval and let you fund via a linked checking account. Your cash can start compounding at these high rates right away. Remember, every extra percentage point of APY you earn is money that’s literally growing itself for you. Happy saving!