Best Savings Accounts
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- National Savings Rate Average*: 0.41%
- See nearly 10x higher rates from our partners
APY
4.39%
- High Yield Savings Account
- Min. Initial Deposit: $1.00
- 4.39% APY
- No Monthly Fees
- Interest Compounded Daily
- Founded in 1927, Valley Bank has served customers for nearly 100 years.
- High-Performing Regional Bank with Assets Greater Than $62 Billion
- FDIC Insured up to $250,000
- Exclusive Offer Powered by The Raisin Platform
- See Site for Details
On Raisin's Secure Site
For Valley Bank, Member FDIC
APY
0.01%
Chase Bank Details
- Savings Account
- 0.01% APY
- Min. Balance to Avoid Service Fee: $300
- Monthly Service Fees: up to $5
- Limit 6 Withdrawals per Monthly Statement Period
- Withdrawal Overage Fees: up to $15 per month
- Other Miscellaneous Fees Apply
Not Recommended.
Shown For Comparison Purposes Only.
APY
3.80%
Annual Percentage Yield (APY)
- High Yield Savings Account
- Min. to Earn APY: $0
- Min. to Open: $0
- 3.80% APY
- APY as of February 06, 2025
- Interest Compounded Daily
- $0 Monthly Fees
- 24/7 Customer Service
- FDIC Insured up to $250,000
- Backed by the Service & Reliability of American Express
- Terms Apply
- See Site for Details
On American Express National Bank's Secure Site, Member FDIC
APY
3.80%
Details
- Savings Account
- Min. balance for APY: $1
- 3.80% APY
- No Monthly Fees with Qualifying Activities
On CitiBank, N.A., Secure Site, Member FDIC
APY
3.75%
- High Yield Savings Account
- Min. balance for APY: $0
- Min. Initial Deposit: $0
- 3.75% APY
- 5x National Savings Avg*
- Mobile Check Deposit
- No Monthly Fees
- 100% U.S.-based Customer Service Available 24/7
- Interest Compounded Daily
- FDIC Insured up to $250,000
- See Site For Details
On Discover's Secure Site, Member FDIC
Compare With

APY
0.15%
Wells Fargo Details
- Savings Account
- Min. Initial Deposit: $25
- No Fee Min. Balance: $300
- 0.15% APY
- Monthly Maintenance Fee of $5. If Below Min. Balance
- Other Fees May Still Apply
Not Recommended.
Shown For Comparison Purposes Only.
APY
4.00%
Details
- Savings Account
- Min. balance for APY: $0
- 4.00% APY
On Synchrony Bank's Secure Site, Member FDIC
APY
3.90%
Details
- Savings Account
- Min. balance for APY: $0
- 3.90% APY
On Marcus by Goldman Sachs' Secure Site, Member FDIC
Compare With

APY
0.01%
Bank of America® Details
- Savings Account
- No Fee Min. Balance: $500
- 0.01% APY
- Monlthy Maintence Fee of $8. If Below Min. Balance
- $5 Fee for Statement Copies
- Other Fees May Still Apply
Not Recommended.
Shown For Comparison Purposes Only.
What to Look for in a High-Yield Savings Account
It’s always wise to compare your options when opening a new savings account. Small differences in interest rates and fees can quickly add up over time, especially if you’re keeping a large balance in savings.
Here are the top features to look for and compare:
1. Interest Rate
The interest rate of a savings account is one of its most important features. However, a very high interest rate can get completely wiped out by monthly fees.
Although your main goal may be a higher interest rate, be sure to focus on low and better yet, no monthly fee accounts. Other important features of your savings account include the required initial deposit, minimum balance required, and how you access your money.
2. Monthly Fees
Monthly fees can destroy your return. You should avoid them like the plague. That’s why we recommend you focus on no monthly fee savings accounts to maximize your return.
3. Required Initial Deposit
Does the bank require a large initial deposit? Are you comfortable depositing that much right away? These days, most banks will allow you to open an account with as little as $1 or even $0 dollars.
Some banks may offer a higher yield with a higher initial deposit. You’ll just need to decide whether that higher initial deposit will be worth any increase in yield.
4. Minimum Balance Required
Minimum balance required to maintain your account is another feature to keep a close eye on.
Most of the banks we recommend do not have large minimum balance requirements, if any minimum balance requirement at all.
The accounts we do recommend that have a higher minimum required balance are usually CD accounts, which you don’t want to open unless you want to lock up your money for 6 months, 12 months or longer.
5. Accessing Your Money
Accessing your money is important with any account. Some high yield savings accounts allow you to transfer funds out of the account as often as you’d like, while others place limits on the number of outgoing transfers you can perform per month.
Additionally, some banks will issue a debit card for your high yield savings account, although that is more common for checking accounts.
We recommend to not focus on the debit card aspect too much and instead ask yourself “how often will I need to pull money from my savings?” We believe that savings should be left alone, until really needed, in order take advantage of compound interest.
Although a limit of 6 out going transfers sounds low, if you need to pull money out more often than that, we’d recommend putting those funds into a checking account instead.
*National Savings Rate Average as published by FDIC