Best Money Market & High Yield Savings Accounts

Conor Keenan Author Bio By: Conor Keenan  Last updated October 12, 2025
Conor Keenan, co-founder of CompareAccounts, is a notable personal finance expert with work seen in Wall Street Journal | Associated Press | Reuters | Yahoo Finance

Editorial Independence: Our opinions, reviews, and recommendations are our own. Partner commissions keep our site free, but our content remains independent.

Check out the best high yield savings & money market accounts recommended by our experts below, open your new account today and start taking advantage of compound interest now.

Synchrony Bank Logo

3.80% APY

4.5

CompareAccounts™ Score

On Synchrony Bank's
Secure Site, Member FDIC

Best For: High APY From a Fortune 500 Bank

Synchrony Bank is offering a 3.80% APY (annual percentage yield) on its High Yield Savings Account, that’s many times the national average. With no minimum balance to open and no monthly service fees, you can start earning more on your savings today.

Interest compounds daily and posts monthly, so your money is always working harder for you. Unlike CDs, you’ll still have full access to your cash whenever you need it. Perfect for an emergency fund or short-term goals.

Synchrony also makes managing your account easy: their mobile app gives you 24/7 access to your balance and transactions. And with FDIC insurance up to $250,000 per depositor, you’ll have peace of mind while your savings grow.

Founded in 2003, Synchrony is a Fortune 500 company and one of the largest consumer banks in the U.S., serving millions of customers nationwide. Terms Apply

See Synchrony Bank's Secure Site For More Details.

Q

Annual Percentage Yield (APY) is subject to change at any time without notice. Offer applies to personal accounts only. Fees may reduce earnings. For High Yield Savings accounts, the rate may change after the account is opened. Visit synchrony.com/banking for current rates, terms and account requirements. Member FDIC.

4.25% APY

Annual Percentage Yield (APY)

4.5

CompareAccounts™ Score

On U.S. Bank National Association's
Secure Site, Member FDIC

Best For: Branch Access

Watch your money grow when you open a U.S. Bank Elite Money Market account.

U.S. Bank offers new Elite Money Market Account clients up to 4.25% APY with a $25,000 balance. 

A minimum $100 initial deposit is required to open the account.

U.S. Bank has over 2,000 branch locations in more than half of U.S. states.

Deposits are insured through the FDIC for up to $250,000 per depositor and if you have any questions U.S. Bank offers "24-Hour Banking" meaning a customer service representative is available 24/7.

In order to earn the 4.25% APY, you must have a balance of $25,000 or more. If you're planning on depositing less than $25,000, we recommend choosing a different account.

Avoid maintence fees with an average daily balance of $10,000 or more. Easy access to your funds when you need it and you can manage your cash and move money safely with the U.S. Bank Mobile App. APY may vary by zip code.

See U.S. Bank's Secure Site For More Details.

Healthcare Bank Powered By Raisin

4.36%

Boosted for 60 days

5.0

CompareAccounts™ Score

On Raisin's Secure Site
for Healthcare Bank,
Member FDIC

Best For: Boosted APY + Bonus

Grow your savings faster with a money market account backed by the strength of Bell Bank, one of the nation’s largest privately owned banks with over $13 billion in assets.

Healthcare Bank offers a boosted 4.36% APY for 60 days, exclusively through the Raisin Platform on their money market account. After that, your savings continue to grow at 4.15% APY.

This APY is substantially higher than what you’ll find at most brick-and-mortar banks and even most online banks.

In addition to this high APY, Healthcare Bank offers $0 monthly maintenance fees, unlimited withdrawals, and is insured by the FDIC for up to $250,000 per depositor.

Customer service is located in New York, they are available via phone or email. You'll also have 24/7 access to your account and funds.

Limited Time Offer: New customers can earn a $75 bonus for $10K, $250 bonus for $25K, $500 bonus for $50K deposited or $1,000 bonus for $100K deposited or more. Use promo code EASY at sign-up.

See Raisin's Secure Site for Healthcare Bank to Get More Details.

Western Alliance Bank Powered by Raisin

4.10% APY

5.0

CompareAccounts™ Score

On Raisin's Secure Site for
Western Alliance Bank, Member FDIC

Best For: High APY Interest Rates

Western Alliance Bank offers 4.10% APY exclusively through the Raisin Platform.

This APY is substantially higher than what you’ll find at most brick-and-mortar banks and even most online banks.

In addition to this high APY, Western Alliance offers $0 monthly maintenance fees, unlimited withdrawals, and is insured by the FDIC for up to $250,000 per depositor.

Customer service is located in New York, NY and is available via email and phone. You'll have online access to your funds 24/7.

Western Alliance Bank is consistenly ranked among the top banks. The bank has over $80 Billion in Assets and were ranked #1 top-performing large bank with assets greater than $50 billion in 2021, 2022, 2023 & 2024 by American Banker. Serving clients across the country wherever business happens.

Limited Time Offer: New customers can earn a $75 bonus for $10K, $250 bonus for $25K, $500 bonus for $50K deposited or $1,000 bonus for $100K deposited or more. Use promo code EASY at sign-up.

See Raisin's Secure Site for Western Alliance Bank For More Details.

 

Up to $300 Bonus

SoFi-Logo

Annual Percentage Yield (APY)

4.50%​ APY
with qualifying activities

5.0

CompareAccounts™ Score

On SoFi®'s Secure Site,
Member FDIC

Best For: Bonus + Large Deposits

SoFi redefines banking with a commitment to no fees—no monthly fees, no overdraft fees, and no account minimums.

Bonus: up to $300 with direct deposit.

In addition to the bonus, you'll enjoy up to 4.50% annual percentage yield (APY) on savings balances with qualifying activities and 0.50% APY on checking balances, fee-free overdraft coverage up to $50 and access your direct deposit funds up to two days early, giving you greater financial flexibility. Terms apply.

The current savings APY without direct deposit is 1.00%. Although this is still higher than the national average, if you don't plan on setting up direct deposit, you should look at the other offers on this list unless you want more FDIC insurance.

Your deposits are FDIC-insured up to $250,000 per depositor and you can also access up to $3,000,000 of additional FDIC insurance through a network of participating banks. Ensuring your money stays safe and secure.

Limited Time Offer: New account holders earn +0.70% boost to 4.50% on their Savings APY for up to 6 months with eligible direct deposit. Terms apply.

See SoFi's Secure Site For More Details.

Q

1. Up to $300 Bonus Tiered Disclosure

New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Eligible Direct Deposit. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at sofi.com/banking. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC. SoFi members with Eligible Direct Deposit can earn 4.50% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 4.50% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.

2. APY disclosures

SoFi members who enroll in SoFi Plus with Eligible Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or SoFi members with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 4.50% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. If you have satisfied Eligible Direct Deposit requirements for our highest APY but do not see 4.50% APY on your APY Details page the day after your Eligible Direct Deposit arrives, please contact us at 855-456-7634. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. See the SoFi Plus Terms and Conditions at https://www.sofi.com/terms-of-use/#plus.

3. Fee Policy

We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at sofi.com/legal/banking-fees/.

4. Additional FDIC Insurance

SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at SoFi.com/banking/fdic/sidpterms. See list of participating banks at SoFi.com/banking/fdic/receivingbanks


5. ATM Access

We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees incurred when using out-of-network ATMs are not subject to reimbursement. SoFi’s ATM policies are subject to change at our discretion at any time.

6. Early Access to Direct Deposit Funds
Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.

7. Overdraft Coverage

Overdraft Coverage is limited to $50 on debit card purchases only and is an account benefit available to customers with Eligible Direct Deposits of $1,000 or more during the current 30-day Evaluation Period as determined by SoFi Bank, N.A. The 30-Day Evaluation Period refers to the “Start Date” and “End Date” set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the “30-Day Evaluation Period”). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking > Savings > Current APY or (ii) Banking > Checking > Current APY. Members with a prior history of non-repayment of negative balances are ineligible for Overdraft Coverage.

8. 0.70% Savings APY Boost
Earn up to 4.50% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.80% APY as of 8/5/25) for up to 6 months. Open a new SoFi Checking & Savings account with Eligible Direct Deposit by 1/31/26. Rates variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.

CIT Bank Logo, Member FDIC

Annual Percentage Yield (APY)

3.75% APY

4.0

CompareAccounts™ Score

On CIT Bank®'s Secure Site,
Member FDIC

Best For: High APY Interest Rates + Mobile App

CIT Bank has been helping customers for over 100 years. Founded in 1908, CIT Bank is now part of First Citizens BancShares, Inc.

CIT Bank offers 3.75% APY on their Savings Connect account with no monthly fees.

CIT Bank’s mobile app give you 24/7 access to your savings account. It also lets you deposit checks remotely & make transfers easily. The mobile app is available for both IOS & Andriod devices.

You can open a CIT Bank savings connect account with as little as $100 and it only takes about 5 minutes to complete the sign-up process.

Deposits are insured through the FDIC for up to $250,000 per depositor and interest compounds daily. Terms Apply

See CIT Bank's Secure Site For More Details.

Q

Savings Connect Account Disclosure

APY — Annual Percentage Yield is accurate as of September 23, 2025. Interest Rates for the Savings Connect Account are variable and may change at any time without notice. The minimum to open a Savings Connect account is $100. Fees could reduce earnings on the account.

 Compare With

Chase Bank Logo

 Not Recommended 

0.01% APY

1.0

CompareAccounts™ Score

Not Recommended. Shown For Comparison Purposes Only.

Chase Bank is one of the largest and most well known banks in the United States. Unfortunately, they offer a measley 0.01% APY on their savings account.

In fact, if you're not careful and perform enough qualifying activies, having a savings account with them can actually cost you money.

The average minimum balance to avoid a monthly service fee is $300. Monthly service fees can be up to $5 per month. They limit withdrawals to 6 per monthly statement period. If you go over this number, you'll be hit with an overage fee up to $15 per month.

Other miscellaneous fees may apply as well. Because of the bottom barrel APY and various fees, we don't recommend you opening a savings account with Chase Bank.

Customers Bank Powered By Raisin

3.76% APY

4.5

CompareAccounts™ Score

On Raisin's Secure Site
for Customers Bank, FDIC Insured

Best For: High APY + No Monthly Fees

Customers Bank high yield savings account offers 3.76% APY exclusively through the Raisin Platform.

Using a single secure login, the Raisin Platform brings together 70+ federally insured banks & credit unions to help accomplish your savings goals.

In addition to this high APY, Customers Bank offers $0 monthly maintenance fees, unlimited withdrawals, and is insured by the FDIC for up to $250,000 per depositor.

These features plus the high APY make this account a rare offer.

Founded in 2009, Customers Bank is a super-community bank with over $22 billion in assets.

Ranked by total assets, Customers Bank is in the top 5% of all banks in America and is consistently ranked as one of the best banks in America by Forbes.

Limited Time Offer: New customers can earn a $75 bonus for $10K, $250 bonus for $25K, $500 bonus for $50K deposited or $1,000 bonus for $100K deposited or more. Use promo code EASY at sign-up.

See Raisin's Secure Site for Customers Bank For More Details.

 

 Compare With

Bank of America Logo

 Not Recommended 

0.01%

1.0

CompareAccounts™ Score

Not Recommended. Shown For Comparison Purposes Only.

Bank of America, another large bank that offers nearly nothing on their savings accounts.

They currently offer a regretful 0.01% APY on their Advantage Savings Account.

Bank of America will charge you a $8 monthly maintence fee unless one of the following conditions is met.

Minumum daily balance of $500, if you are a Bank of America Preferred Rewards client, if you link your Savings account to your Bank of America Advantage Relationship Banking® account, are under the age of 18 or if you're under the age of 25 and can qualify as a student.

Other miscellanerous fees may apply as well, such as $5 for statement copies. Because of the bottom barrel APY and various fees, we don't recommend you opening a savings account with Bank of America.

To recap our recommendations.

Best Savings Accounts According To CompareAccounts™

Healthcare Bank High-Yield Money Market Account: boosted 4.36% APY for 60 days - Earn up to $1,000 with Promo Code: EASY

Discover® Bank Online Savings Account: 3.40% APY - Earn up to $200 with Promo Code: CA925

Western Alliance Bank® High Yield Savings Account: 4.10% APY - Earn up to $1,000 with Promo Code: EASY

SoFi® Checking and Savings: 4.50%​ APY & Earn up to $300 with qualifying activities

CIT Bank® Savings Connect Account: 3.75% APY as of October 12, 2025

Customers Bank High Yield Savings Account: 3.76% APY - Earn up to $1,000 with Promo Code: EASY

Customers Also Viewed: Bonus Checking Accounts

Up to $300 Bonus

SoFi-Logo

5.0

CompareAccounts™ Score

  • Checking & Savings Account
  • No Monthly Fees
  • No Overdraft Fees
  • Fee-Free Overdraft Coverage Available
  • Bonus: up to $300 with Direct Deposit
  • Set Up Direct Deposit & Access Funds up to 2 Days Sooner with Early Pay
  • Access 55,000+ Fee-Free ATMs within the Allpoint® Network
  • Send Money with SoFi's Peer-to-Peer Payment System
  • Earn 0.50% Annual Percentage Yield (APY) on Checking Balances
  • Limited Time Offer: New account holders earn +0.70% boost to 4.50% on their Savings APY for up to 6 months with eligible direct deposit. Terms apply.
  • See Site for Details
Q

1. Up to $300 Bonus Tiered Disclosure

New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Eligible Direct Deposit. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at sofi.com/banking. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC. SoFi members with Eligible Direct Deposit can earn 4.50% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 4.50% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.

2. APY disclosures

SoFi members who enroll in SoFi Plus with Eligible Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or SoFi members with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 4.50% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. If you have satisfied Eligible Direct Deposit requirements for our highest APY but do not see 4.50% APY on your APY Details page the day after your Eligible Direct Deposit arrives, please contact us at 855-456-7634. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. See the SoFi Plus Terms and Conditions at https://www.sofi.com/terms-of-use/#plus.

3. Fee Policy

We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at sofi.com/legal/banking-fees/.

4. Additional FDIC Insurance

SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $2M through participation in the program. See full terms at SoFi.com/banking/fdic/terms See list of participating banks at SoFi.com/banking/fdic/receivingbanks


5. ATM Access

We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees incurred when using out-of-network ATMs are not subject to reimbursement. SoFi’s ATM policies are subject to change at our discretion at any time.

6. Early Access to Direct Deposit Funds
Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.

7. Overdraft Coverage

Overdraft Coverage is limited to $50 on debit card purchases only and is an account benefit available to customers with Eligible Direct Deposits of $1,000 or more during the current 30-day Evaluation Period as determined by SoFi Bank, N.A. The 30-Day Evaluation Period refers to the “Start Date” and “End Date” set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the “30-Day Evaluation Period”). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking > Savings > Current APY or (ii) Banking > Checking > Current APY. Members with a prior history of non-repayment of negative balances are ineligible for Overdraft Coverage.

8. 0.70% Savings APY Boost
Earn up to 4.50% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.80% APY as of 8/5/25) for up to 6 months. Open a new SoFi Checking & Savings account with Eligible Direct Deposit by 1/31/26. Rates variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.

On SoFi's Secure Site,
Member FDIC

 

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