As of December 12, 2025, high-yield savings accounts are offering rates as high as 5.00% APY, which is considerably more than the FDIC's nationwide average of 0.40%. This contrast provides a clear picture for anyone truly looking to maximize their earnings.
TL;DR
- Top savings accounts offer up to 5.00% APY, significantly higher than the FDIC average.
- Varo Money, Newtek Bank, and Axos Bank offer the highest APYs for savings accounts.
- High-yield savings accounts are beneficial for emergency funds, purchases, and retirement savings.
- Consider competitive rates, low minimums, no fees, withdrawal flexibility, and deposit guarantees.
Regardless of whether you aim to establish an emergency fund, set aside money for a significant purchase such as a dream holiday, accumulate assets until you can afford to acquire gold or silver, or contribute to a retirement savings account, generating interest through a high-yield savings account represents a prudent decision. You can achieve substantial returns while keeping your assets relatively accessible.
The three highest-APY accounts we’ve identified are as follows:
- Earn up to 5.00% with Varo Money.
- Earn up to 4.35% with Newtek Bank.
- Earn up to 4.31% with Axos Bank.
The top interest rates available for savings accounts currently
Coins2Day has joined forces with Curinos, a consultancy firm specializing in the financial sector, to provide you with a precise overview of the top savings account interest rates currently available. Varo Money is at the forefront, with Newtek Bank and Axos Bank also presenting attractive annual percentage yields. Continue reading to explore our comprehensive selection of HYSAs and identify the best option for your requirements.
The implications of the Coins2Day/Curinos collaboration for you
With more than three decades of experience in financial data, Curinos is a valuable resource. We receive daily updates from Curinos concerning savings and CD rates offered by financial institutions across the country, which we then use to assemble our compilation. You can be confident that Coins2Day is offering recommendations based on thorough data analysis, intended to assist you in making a well-informed decision.
Evolution of savings account interest rates
Although the typical interest rate for savings accounts has risen since the low points observed between 2020 and 2022, it remains significantly lower than the annual percentage yields offered by the top-tier high-yield savings accounts featured here.
Check Out Our Daily Rates Reports
- Discover the highest CD rates, up to 4.18% for December 11, 2025.
- Discover the current mortgage rates for December 11, 2025.
- Discover current refi mortgage rates report for December 11, 2025.
- Discover current ARM mortgage rates report for December 11, 2025.
- Discover the current price of gold for December 11, 2025.
- Discover the current price of silver for December 11, 2025.
What makes a high-yield savings account a beneficial choice?
To begin, we'll point out that “high-yield savings account” isn't precisely a distinct account category. Rather, it's the designation we use for any savings vehicle providing interest rates significantly higher than what's typical in the market. Put differently, it serves as a convenient way to refer to them.
Frequently, conventional savings accounts are provided by physical banks, whereas savings accounts with elevated yields can be found at financial institutions and credit unions that function primarily or exclusively on the internet. Due to the absence of expenses associated with maintaining physical branch networks, and occasionally by limiting their product offerings, online institutions can often provide their clientele with superior annual percentage yields.
If you're at ease with digital financial management, transitioning to an account offering a higher yield could significantly boost your earned interest. Based on your deposit amount and the specific Annual Percentage Yield (APY) of your account, you might gain several hundred dollars more each year compared to what a standard savings account would provide.
What is the potential return on investment with an increased APY?
Imagine you possess $5,000 that remains untouched for a full twelve months. And let's suppose, for the purpose of this thought experiment, that your annual percentage yield stays constant throughout that time. The disparity in earnings between a 5.00% APY and a 0.40% APY strongly supports the argument for making a change.
| Initial Deposit | Estimated Interest | |
|---|---|---|
| 0.40% APY | $5,000 | $22 |
| 5.00% APY | $5,000 | $256 |
| 0.40% APY | |
|---|---|
| Initial Deposit | $5,000 |
| Estimated Interest | $22 |
| 5.00% APY | |
| Initial Deposit | $5,000 |
| Estimated Interest | $256 |
When selecting a high-yield savings account, consider these key features.
When shopping around for a HYSA, these factors deserve your attention:
- Competitive rates. Search for APYs that meaningfully increase your earnings potential.
- Low or zero minimums. Many high-yield accounts don’t require large opening deposits, which is a plus for folks who are just starting out on their savings journey.
- No maintenance costs. Avoid accounts that charge monthly fees eating into your accumulated interest.
- Withdrawal flexibility. You want assurance that your funds can be accessed when required. Take note of limitations on withdrawals and international ATM charges.
- Deposit guarantees. Verify FDIC coverage if opening an account with a bank, or NCUA coverage with a credit union.
Note, you will owe taxes on the interest you earn.
Frequently asked questions
Will interest rates on savings accounts decrease?
Possibly. Financial institutions commonly modify their interest rates following Federal Reserve pronouncements. Given that the Fed is slated to commence its interest rate reduction phase in late 2025—beneficial for those taking out loans, but less advantageous for individuals depositing funds—it's logical to anticipate a decline in savings account yields.
Is it possible to experience financial losses with a high-yield savings account?
Prior to establishing an account, verify that it is covered by FDIC or NCUA insurance; this secures your funds up to a $250,000 ceiling per financial entity. Furthermore, rest assured that unlike equities, your savings account won't fluctuate based on market conditions, although inflation exceeding your account's APY might diminish your spending capacity.
Does a savings account offering a substantial return still provide value?
Yes. Even with recent rate cuts, many high-yield accounts still offer up to or even over 4.00% APY. These accounts remain the straightforward, safe way to generate substantial interest on your money while still leaving it available for you to access. For those willing to tie up funds for a set period of time, a CD might possibly offer better returns.