The best high-yield savings accounts are hitting rates up to 5.00% APY as of Dec. 9, 2025—and that’s genuinely impressive compared to the FDIC’s recorded national average of 0.40%. If you’re serious about making your money work harder, opting for a high-yield account over a traditional savings account is one of the best moves you can make.
TL;DR
- High-yield savings accounts offer up to 5.00% APY, significantly higher than the national average of 0.40%.
- Varo Money leads with up to 5.00% APY, followed by Newtek Bank (4.35%) and Axos Bank (4.31%).
- Digital banks often provide higher yields by reducing overhead costs associated with physical branches.
- Key features to consider include strong interest rates, low minimums, no monthly fees, easy access, and FDIC/NCUA insurance.
Regardless of whether your objective is to establish an emergency fund, accumulate funds for a desired trip, contemplate investing in valuable metals, or prepare for your retirement years, depositing your money into a high-yield savings account is a logical choice. You aren't exposing yourself to significant danger, yet you have the possibility of generating substantially more income annually compared to what a conventional account would yield.
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, the financial industry advisors, to provide an exact view of the top savings account yields available. Varo holds the premier position, with Newtek and Axos coming in second and third. Continue reading to explore our comprehensive selection of HYSAs and identify the best fit for your requirements.
The implications of the Coins2Day/Curinos collaboration for you
Curinos, a company with more than three decades of experience monitoring financial services information, is our source for tracking the rates banks provide. Every weekday, we receive an updated report from Curinos detailing savings and CD annual percentage yields from numerous financial entities. We compile our selections by handling the research so our readers don't need to.
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.
What makes a high-yield savings account a beneficial choice?
To be clear, “high-yield savings account” isn't actually a distinct type of account. It's simply the designation for any savings account that provides interest rates significantly above those typically offered by most banks. Experts in finance employ this phrase to set them apart from ordinary accounts.
The distinction typically boils down to this: conventional financial institutions with physical offices generally provide less favorable rates as they incur expenses for their brick-and-mortar setups. Digital banks that provide high-yield accounts have streamlined their operations—eliminating branches, offering a more limited range of services—allowing them to transfer those cost reductions to you via superior earning percentages.
If you're at ease with managing your finances digitally and aim to boost your earnings, moving to a savings account with a higher interest rate might significantly enhance your profits. This could translate to potentially an extra few hundred dollars each year, contingent on your deposit amount and the Annual Percentage Yield (APY) provided by Your High-Yield Savings Account (HYSA).
What is the potential return on investment with an increased APY?
Imagine you have $5,000 that you don't touch for a year. In an account yielding 5.00% APY, you'd earn considerably more than you would in a 0.40% APY account, as illustrated by the projections below.
| 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 |
Transferring your funds from a standard account to a superior-yield choice represents one of the simplest financial actions you can undertake—and it ought to yield significant rewards.
When selecting a high-yield savings account, consider these key features.
When you’re evaluating accounts, keep these priorities in mind:
- Strong interest rates. Hunt for a competitive APY that will genuinely boost your earnings, not just a minor difference.
- Low or no minimums. Numerous accounts offering elevated interest rates typically don't mandate a substantial initial deposit, proving advantageous for individuals embarking on their savings endeavors.
- No monthly fees. Avoid accounts that charge you just to hold your money—those fees eat directly into your interest.
- Easy access to your funds. Ensure you have the ability to access or move funds as required, and be mindful of any restrictions on withdrawals or international ATM charges.
- Security. Verify that your account holds FDIC insurance if it's with a bank, or NCUA insurance if it's part of a credit union. This serves as your protection.
One important thing to be aware of is that you’ll owe taxes on whatever interest you earn.
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Frequently asked questions
Will interest rates on savings accounts decrease?
It's conceivable. When the Federal Reserve modifies its prime lending rate, financial institutions generally do the same. Given that the Fed commenced lowering rates toward the end of 2025—which benefits those seeking loans but is less advantageous for individuals with savings—there's a likelihood that certain banks will reduce their savings account interest rates in response.
Is it possible to experience financial losses with a high-yield savings account?
Prior to establishing an account, confirm that it is insured by the FDIC or NCUA. This safeguard extends to your funds, up to a limit of $250,000 per financial institution. In contrast to capital placed in the stock market, your funds within a savings account are not susceptible to extreme fluctuations. Nevertheless, if inflation outpaces your APY, your ability to buy goods and services may diminish over the long term.
Does a savings account offering a substantial return still provide value?
Yes. Even with recent Fed rate cuts, plenty of high-yield savings accounts are still offering APYs approaching or even above 4.00%. They remain one of the smartest, lowest-risk ways to earn noteworthy interest on your money while keeping it accessible. If you’re willing to lock your money away, a CD might potentially give you a better rate—but for flexibility, a high-yield savings account is tough to beat.