High Yield CDs & Savings Accounts
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Your Financial Well-Being Comes First.
We believe everyone should have free access to the right information to make smart financial decisions. Although our site doesn’t showcase every financial institution and its products available we're confident in our recommendations to help guide you on your financial journey. Free of charge for you.
Instead of charging you money, we're compensated by our partners and third-party advertisers. This compensation, along with our proprietary algorithms, may, at times, influence the products we decide to review, discuss, and their position on our site or the order in which they appear. Trust that these actions are taken to benefit you the consumer ultimately make the right decision for you.
- National Savings Rate Average*: 0.33%
- See 10x & higher rates from our partners
A high yield savings account can offer as high of an APY as a CD, but with much more flexibility.
Compare CDs & savings accounts with ease, find the right one for you, and open your account in minutes.
Open your new account with confidence. Each of our recommendations is insured up to $250,000 per depositor.
High-Yield Certificate of Deposit Accounts:
Get your rate guaranteed with fixed terms.
APY
4.50%
1 Month Term
- High Yield CD
- Term: 1 Month
- 4.50% APY
- Min. initial deposit: $1
- FDIC Insured up to $250,000
- No Monthly Fees
- 24 /7 Access to Funds
- 30x National Avg. APY vs. Other 1 Month CDs
- Certified Community Development Financial Institution
- Interest Compounded Daily
- See Site for Details
On Ponce Bank's Secure Site, FDIC Insured
APY
4.50%
12 Month CD
- High Yield CD
- Term: 12 Months
- Min. Initial Deposit: $2,500
- 4.50% APY
- No Monthly Fees
- Lock in Your CD Rate & Earn Guaranteed Interest
- 100% U.S.-based Customer Service Available 24/7
- Interest Compounded Daily
- FDIC Insured up to $250,000
- See Site For Details
On Discover Bank's Secure Site, Member FDIC
High APY Rate
15 Month Term
APY
4.80%
- High Yield Certificate of Deposit
- Term: 15 Months
- 4.80% APY
- Min. initial deposit: $1
- Blue FCU is Federally Insured by NCUA, the National Credit Union Administration
- NCUA Insured up to $250,000
- No Monthly Fees
- 24 /7 Online Access to Funds
- 5.1x National Avg. APY
- Interest Compounded Daily
- Blue FCU Has Served Its Members for Over 70 Years
- See Site for Details
On SaveBetter's Secure Site for Blue FCU, NCUA Insured
High-Yield Savings Accounts:
Get more flexibility with similar APY.
APY
3.75%
- High Yield Savings Account
- Min. to Earn APY: $1
- Min. Initial Deposit: $0
- 3.75% APY
- APY as of March 29, 2023
- Interest Compounded Daily
- No 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
3.60%
- High Yield Savings Account
- Min. balance for APY: $0
- Min. Initial Deposit: $0
- 3.60% 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 Bank's Secure Site, Member FDIC
New Higher APY
APY
4.75%
- High Yield Savings Account
- Min. initial deposit: $1
- 4.75% APY
- FDIC Insured up to $250,000
- No Monthly Fees
- Interest Compounded Daily
- Ranked #1 Top-Performing Bank with Assets Greater Than $50 Billion in 2021
- Exclusive Offer Powered by The SaveBetter Platform
- See Site for Details
On SaveBetter's Secure Site for Western Alliance Bank,
FDIC Insured
To recap our recommendations.
Best Savings Accounts According To CompareAccounts™
American Express® High Yield Savings Account: 3.75% APY as of March 29, 2023
Discover® Bank Online Savings Account: 3.60% APY
To recap our recommendations.
Best Certificate of Deposits According To CompareAccounts™
Ponce Bank® Certificate of Deposit Account: 4.50% APY - 1 Month Term
Discover® Bank Certificate of Deposit Account: 4.50% APY - 12 Month Term
Blue Federal Credit Union Certificate of Deposit Account: 4.80% APY - 15 Month Term
Don't Miss This High Yield Savings Account
High APY Rate
APY
4.75%
On SaveBetter's Secure Site for Western Alliance Bank,
FDIC Insured
What to Look for in a Certificate of Deposit Account
It’s always wise to compare your options when opening a new certificate of deposit account.
Small differences in interest rates and fees can quickly add up over time, especially if you’re keeping a large balance in the account.
Here are the top features to look for and compare:
1. Interest Rate
The interest rate of a certificate of deposit is one of its most important features. However, a very high interest rate can get completely wiped out if you have to pay a penalty fee because you need to withdrawl your funds before the term is complete.
Besides interest rate, term length is the second most important factor. Other important features of your certificate of deposit account include the required initial deposit, and minimum balance required.
2. Term Length
Most banks will charge you what’s called a “penalty fee” for withdrawing your funds before the term length has been completed.
This means, that if you open a 12-month CD, but withdraw your funds within 6 months, then you’ll pay a penalty fee.
Therefore, you need to decide when you’ll need these funds again.
For any term less than a year, we recommend a high-yield savings account.
If this is your first CD account, we recommend starting with a 12 – 15 month term.
If you’ve opened a CD account in the past, then you choose which term is right for you and your unique situation.
3. Required Initial Deposit
Initial deposit is another important factor when deciding to open up a certificate of deposit. Most banks require at least a $500 initial deposit to open a CD account.
While others require much more than $500 to open the account.
Again, because the initial deposit is in the hundreds if not thousands, we recommend you open a high-yield savings account if you need these funds within a year.
*National Savings Rate Average as published by FDIC
Your Financial Well-Being Comes First.
We believe everyone should have free access to the right information to make smart financial decisions. Although our site doesn’t showcase every financial institution and its products available we're confident in our recommendations to help guide you on your financial journey. Free of charge for you.
Instead of charging you money, we're compensated by our partners and third-party advertisers. This compensation, along with our proprietary algorithms, may, at times, influence the products we decide to review, discuss, and their position on our site or the order in which they appear. Trust that these actions are taken to benefit you the consumer ultimately make the right decision for you.
High Yield CDs & Savings Accounts
- National Savings Rate Average*: 0.33%
- See 10x & higher rates from our partners
A high yield savings account can offer as high of an APY as a CD, but with much more flexibility.
Compare CDs & savings accounts with ease, find the right one for you, and open your account in minutes.
Open your new account with confidence. Each of our recommendations is insured up to $250,000 per depositor.
To summuarize our recommendations.
Best CDs According To CompareAccounts™
Ponce Bank® Certificate of Deposit Account: 4.50% APY - 1 Month Term
Discover® Bank Certificate of Deposit Account: 4.50% APY - 12 Month Term
Blue Federal Credit Union Certificate of Deposit Account: 4.80% APY - 15 Month Term
To summuarize our recommendations.
Best Savings Accounts According To CompareAccounts™
American Express® High Yield Savings Account: 3.75% APY as of March 29, 2023
Discover® Bank Online Savings Account: 3.60% APY
High-Yield Certificate of Deposit Accounts:
Get your rate guaranteed with fixed terms.
APY
4.50%
1 Month Term
- High Yield CD
- Term: 1 Month
- 4.50% APY
- Min. initial deposit: $1
- FDIC Insured up to $250,000
- No Monthly Fees
- 24 /7 Access to Funds
- 30x National Avg. APY vs. Other 1 Month CDs
- Certified Community Development Financial Institution
- Interest Compounded Daily
- See Site for Details
On Ponce Bank's Secure Site, FDIC Insured
APY
4.50%
12 Month CD
- High Yield CD
- Term: 12 Months
- Min. Initial Deposit: $2,500
- 4.50% APY
- No Monthly Fees
- Lock in Your CD Rate & Earn Guaranteed Interest
- 100% U.S.-based Customer Service Available 24/7
- Interest Compounded Daily
- FDIC Insured up to $250,000
- See Site For Details
On Discover Bank's Secure Site, Member FDIC
High APY Rate
15 Month Term
APY
4.80%
- High Yield Certificate of Deposit
- Term: 15 Months
- 4.80% APY
- Min. initial deposit: $1
- Blue FCU is Federally Insured by NCUA, the National Credit Union Administration
- NCUA Insured up to $250,000
- No Monthly Fees
- 24 /7 Online Access to Funds
- 5.1x National Avg. APY
- Interest Compounded Daily
- Blue FCU Has Served Its Members for Over 70 Years
- See Site for Details
On SaveBetter's Secure Site for Blue FCU, NCUA Insured
High-Yield Savings Accounts:
Get more flexibility with similar APY.
APY
3.75%
- High Yield Savings Account
- Min. to Earn APY: $1
- Min. Initial Deposit: $0
- 3.75% APY
- APY as of March 29, 2023
- Interest Compounded Daily
- No 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
3.60%
- High Yield Savings Account
- Min. balance for APY: $0
- Min. Initial Deposit: $0
- 3.60% 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 Bank's Secure Site, Member FDIC
New Higher APY
APY
4.75%
- High Yield Savings Account
- Min. initial deposit: $1
- 4.75% APY
- FDIC Insured up to $250,000
- No Monthly Fees
- Interest Compounded Daily
- Ranked #1 Top-Performing Bank with Assets Greater Than $50 Billion in 2021
- Exclusive Offer Powered by The SaveBetter Platform
- See Site for Details
On SaveBetter's Secure Site for Western Alliance Bank,
FDIC Insured
To recap our recommendations.
Best Savings Accounts According To CompareAccounts™
American Express® High Yield Savings Account: 3.75% APY as of March 29, 2023
Discover® Bank Online Savings Account: 3.60% APY
To recap our recommendations.
Best Certificate of Deposits According To CompareAccounts™
Ponce Bank® Certificate of Deposit Account: 4.50% APY - 1 Month Term
Discover® Bank Certificate of Deposit Account: 4.50% APY - 12 Month Term
Blue Federal Credit Union Certificate of Deposit Account: 4.80% APY - 15 Month Term
Don't Miss This High Yield Savings Account
High APY Rate
APY
4.75%
On SaveBetter's Secure Site for Western Alliance Bank,
FDIC Insured
What to Look for in a Certificate of Deposit Account
It’s always wise to compare your options when opening a new certificate of deposit account.
Small differences in interest rates and fees can quickly add up over time, especially if you’re keeping a large balance in the account.
Here are the top features to look for and compare:
1. Interest Rate
The interest rate of a certificate of deposit is one of its most important features. However, a very high interest rate can get completely wiped out if you have to pay a penalty fee because you need to withdrawl your funds before the term is complete.
Besides interest rate, term length is the second most important factor. Other important features of your certificate of deposit account include the required initial deposit, and minimum balance required.
2. Term Length
Most banks will charge you what’s called a “penalty fee” for withdrawing your funds before the term length has been completed.
This means, that if you open a 12-month CD, but withdraw your funds within 6 months, then you’ll pay a penalty fee.
Therefore, you need to decide when you’ll need these funds again.
For any term less than a year, we recommend a high-yield savings account.
If this is your first CD account, we recommend starting with a 12 – 15 month term.
If you’ve opened a CD account in the past, then you choose which term is right for you and your unique situation.
3. Required Initial Deposit
Initial deposit is another important factor when deciding to open up a certificate of deposit. Most banks require at least a $500 initial deposit to open a CD account.
While others require much more than $500 to open the account.
Again, because the initial deposit is in the hundreds if not thousands, we recommend you open a high-yield savings account if you need these funds within a year.
*National Savings Rate Average as published by FDIC