7 Of The Best High-yield Savings Accounts


Praca, Oferty Pracy

7 of the best high-yield savings accounts

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Compared to conventional savings accounts, high-yielding savings accounts allow you to multiply your money faster. During these volatile economic times, a high-yielding savings account can be a good place to keep money safe and earn interest.

According to Federal Deposit Insurance Corporation (FDIC), a typical savings account pays an annual interest rate (APY) of just 0.37%. (FDIC) as of March 2023. Despite this average, at the time of writing, several reputable banks provide rates of 4% or more on high-yield savings accounts. Many of these savings accounts also come with customer-friendly features such as sophisticated mobile apps, ATM cards, and no monthly service fees.

Whether you’re saving for a rainy day or a down payment on a house, a high-yielding savings account is a good choice. These accounts can also be a good place to store your tax refund if you have just filed your tax return and are looking for a place to store your funds.


But it can be difficult to know which high-yield savings account to open, as offers often change and interest rates fluctuate. So let’s take a look at the top 7 high-yield savings accounts.

You’ll notice a pattern in our list of the top ten high-yielding savings accounts: none of the nation’s largest banks made it to this list. This is because, at the time of writing, reputed banks did not have competitive rates and had high commissions and minimum deposit requirements.

On the other hand, the banks on our list attract customers and their deposits by offering high interest rates and excellent customer service. And, as you might expect, the FDIC backs them up to $250,000 in deposit insurance per depositor, per bank, and per category of property.

Before we take a closer look at some of the best high yield savings accounts, please note that the APY charged on these accounts can fluctuate. These interest rates are current at the time of publication and we will do our best to update them. In any case, check the bank’s website for the latest APY.


Connected: How to choose the best checking account.

Review: The UFB Preferred Savings Account, which sits at the top of our rankings with its high annual rate of 5.02%, is perfect if you want to multiply your money while still having easy access to it.

What you need to know:

  • Earn up to 5.02% per annum (as of 03/31/23).
  • No maintenance or service fees.
  • There are no minimum deposit requirements.
  • Free ATM card.

What we like about UFB Preferred Savings Account: Not only does this account lead the field with an impressive annual percentage return (APY) of up to 5.02%, but it is also a great choice for those who don’t like any type of fees from their savings accounts.


There are no hidden monthly service fees, so your money is easily accessible online and the mobile banking app is secure. In addition, a free ATM card may appeal to users who prefer not to deal with external bank transfers when they need cash.

Find out more about and open your preferred UFB savings account.

A person depositing a check using their smartphone.

Review: CIT Bank Savings Connect The account is a great choice for people who need an online-only savings account with fast customer service.

What you need to know:

  • Attractive 4.50% per annum.
  • Initial deposit 100$.
  • Mobile checks.

What we like about CIT Bank Savings Connect: The mobile banking app for CIT Bank allows you to perform basic actions such as checking your transaction history and transferring money between your CIT Bank accounts. But if you need to speak to a customer service agent, the bank is known for having advisors available 24/7 via live chat on its website and app. What’s more, you can talk to a real person live from 9:00 AM to 9:00 PM ET on weekdays and from 10:00 AM to 6:00 PM ET on Saturdays.

Please note that CIT has other savings accounts with different interest rates, fees and features. For example, his platinum savings account has a higher 4.75% APR. However, you must maintain a balance of $5,000 or more to qualify for this bet. Otherwise, your APY drops to 0.25%.

Learn more and open a CIT Bank Savings Connect account.

Read our full review CIT Bank Savings Connect accounts.

The sign that reads

Review: First Foundation Bank not only provides online banking, but also has physical branches for customers who prefer regular locations for their bank. His online savings account is paying out 4.50% APR at the time of writing.

What you need to know:

  • Competitive rate of 4.50% per annum.
  • Over 30 branches in California, Hawaii, Nevada, Texas and Florida.
  • No geographic restrictions on opening an account.
  • No service charge.
  • An ATM card is available with a fee of up to $20 per visit with no monthly limit.

What we like about the First Foundation Bank online savings account: The First Foundation Bank online savings account is a great option if you want to maintain a balance of $1,000 or more. It is one of the most competitive savings accounts due to its simplicity and an increased 4.50% Annualized Percentage Yield (APY).

It is also one of the few banks that provides ATM cards and refunds customers up to $20 per transaction with no monthly refund limit. In addition, people living in California, Nevada, Florida and Hawaii can access their funds at any of the bank’s 30 branches.

Learn more and open a First Foundation Bank online savings account.

An American Airlines plane is taking off.

Review: The Bask Bank American Airlines Miles Savings Account is popular with those who want to earn American AAdvantage miles with their savings. But if you prefer to make money, Bask Bank Interest Savings Account provides an excellent 4.45% APY.

What you need to know:

  • Strong 4.45% per annum.
  • Live customer support is available 6 days a week.
  • Opportunity to earn American Airlines miles or interest.
  • The minimum deposit is $0.
  • There are no minimum balance requirements.
  • No monthly service fee.

What we like about the Bask Bank interest-bearing savings account: With an annual percentage yield (APY) of 4.45%, at the time of writing, it has one of the best money-saving records in the country.

If you save American AAdvantage miles for your vacation, you can open a Bask Mileage Savings Account instead. This account earns 2 miles per dollar per year from your savings distributed monthly. travel site Guy with glasses values ​​those miles at 1.77 cents each, giving you an effective 3.54% APY. However, you can get more value out of your miles if you use them on high class award flights. Run the numbers and see what works best for your needs.

Luckily, you don’t have to worry about monthly payments or minimum balances on any of Bask Bank’s savings accounts. You will only need to pay a fee if you need to send a bank transfer from your account.

Find out more and open an interest-bearing savings account with Bask Bank.

Five hands hold different US dollars.

Review: At the time of writing, Primis Bank’s savings account has a competitive rate of 4.35% per annum and the bank has physical branches in Maryland and Virginia.

What you need to know:

  • Direct APY 4.35%.
  • The minimum deposit upon opening is $1.
  • Free incoming wires.
  • There is no minimum balance.
  • Zero service fee.

What we like about the Primis Savings Account: While Primis Bank’s physical presence is limited to only two states, Primis Bank’s impressive savings account is an internet-only account that can be set up from your home.

It has an excellent APY of 4.35% and you can open an account with as little as $1. The bank also provides free incoming transfers and does not require a minimum balance. If you need to contact support, you can contact them by phone, email, or live chat.

Find out more and open a Primis Savings Account.

CIBC bank branch sign

Review: In terms of high yield savings accounts, the CIBC Agility account offers an attractive interest rate of 4.27% per annum and can be the perfect choice if you have at least $1,000 to deposit.

What you need to know:

  • High interest rate (4.27% per annum).
  • There is no monthly service fee.
  • The minimum initial deposit is $1,000.

What we love about CIBC Agility Online Savings Account: CIBC Bank is a full-service bank based in Canada that provides consumers in the US with the savings accounts they want, among other financial services products.

The CIBC Agility Savings Account is an online-only savings account. There is no monthly account opening fee. To open an account, you must have a minimum deposit of $1,000. But once an account is set up, it does not have a minimum balance.

Find out more and open an online savings account CIBC Agility.

A person using a bright red ATM machine.

Review: The LendingClub High Yield Savings Account combines a high interest rate with no monthly fees and a modest initial deposit.

What you need to know:

  • Mobile checks.
  • High 4.25% per annum.
  • No monthly payments.
  • An ATM card is available with a refundable fee.

What we love about LendingClub High Yield Savings Account: The APY on LendingClub’s high yield savings account is 4.25%, which is higher than the national average and one of the highest rates we’ve seen. You will not be charged a monthly service fee, and customers can make free internal and external transfers online and through mobile banking.

Customers who need an ATM card can request one free of charge and LendingClub will reimburse them for ATM costs at other banks without limitation.

There are no physical branches of LendingClub, but customers can deposit and withdraw money from their accounts using their phones, certain ATMs, or through online banking.

Find out more and open a high yield LendingClub savings account.

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