Best High Yield Savings Accounts with Low Minimum Deposits
By: Conor Keenan, AWMA®
Editorial Independence: Our recommendations and reviews are our own. Partner commissions may help keep our site free and do not influence our editorial content.
Your savings could earn 8 - 10x the national average APY of 0.38%. These are the same vetted accounts we trust with our own families’ money. See the full list & choose the right one for you to start earning more.
SoFi
Checking & Savings
Best for low fees, everyday banking benefits & competitive savings
With qualifying activities.
- Ranked #1 Best Bank in U.S. – Forbes 2026
- $0 minimum to open
- No monthly service fees3
- 55,000+ fee-free ATMs5
- Limited-Time APY Offer: +1.10% boost to 4.40% APY for up to six months. Terms apply.8
- Bonus Offer: Earn $50 or $400 with eligible direct deposit. Terms apply.1
SoFi Bank, N.A., Member FDIC
American Express
High Yield Savings Account
Best for a familiar brand with no minimum balance
- $0 minimum to earn APY1
- $0 minimum to open2
- 24/7 customer service
- Backed by the World-Class Service & Reliability of American Express®
Member FDIC
Synchrony Bank
High Yield Savings
Best for no minimum balance or monthly fees
Interest compounded daily.
- $0 minimum initial deposit
- No monthly fees
- Trusted Fortune 500 Bank with Nationwide Reach Serving Millions of Customers
- Optional ATM card and reimburses up to $5 per month in out-of-network ATM fees.
CIT Bank
Savings Connect
Best for online savings with no monthly balance requirement
No minimum monthly balance is required.
- $100 minimum opening deposit
- No monthly service fees
- Mobile app and online banking
- Remote check deposit and easy transfers
Member FDIC
The State Exchange Bank
High Yield Savings through Raisin
Best for a very low opening deposit through Raisin
Available nationwide through the Raisin platform.
- $1 minimum initial deposit
- No monthly fees
- Interest compounded daily
- Established in 1901; terms apply
Member FDIC
Chase Bank
Chase Savings
Included as a traditional-savings comparison
Substantially below the high-yield accounts above.
- $300 balance to avoid the service fee
- Monthly service fee up to $5
- $3 Chase fee per withdrawal at non-Chase ATMs in the U.S.; ATM-owner fees may also apply.
- Potential missed interest A low APY could mean thousands of dollars less in interest over time, depending on your balance & the rates available elsewhere.
To recap our recommendations.
Best Savings Accounts According To CompareAccounts™
SoFi® Checking and Savings: Best For: Bonus + Annual Percentage Yield up to 4.40% APY
American Express® High Yield Savings Account: 3.20% APY as of November 13, 2026
American Express® High Yield Savings Account: 3.20% APY as of November 13, 2026
CIT Bank® Savings Connect Account: 3.65% APY
These accounts are perfect for starting, rebuilding, or growing your savings.
No matter where you are in your savings journey, the best thing to do is to start and to be consistent.
You got this!
*National Savings Rate Average as published by FDIC
Important information
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