Northstar
High-Yield Savings
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APY—
Monthly fee$0
Min. deposit$0
Updated today
Compare the Best High-Yield Savings Accounts of the Month
Grow your savings faster with top APY rates, no monthly fees and FDIC-insured banks — all in one place.
- Top APYs up to 5.00% vs 0.45% national average
- $0 monthly fees vs up to $15/mo at big banks
- FDIC insured vs uninsured fintech apps
- Open online in minutes vs branch visits & paperwork
Top savings offers
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Harbor
Online Savings
Rates and eligibility vary
APY—
Monthly fee$0
Min. deposit$100
Summit
Performance Savings
See provider terms
APY—
Monthly fee$0
Min. deposit$1,000
Atlas
Premium Savings
See provider terms
APY—
Monthly fee$0
Min. deposit$500
Crestline
Advantage Savings
Rates and eligibility vary
APY—
Monthly fee$0
Min. deposit$0
*APY means annual percentage yield. Rates and terms are supplied by participating providers. Member FDIC status shown by providers
APYs are subject to change at any time without notice. Offers are provided by our partners and may not be available in all states. Banking Pro may receive compensation when you click on links to products.
What is a high-yield savings account?
A high-yield savings account (HYSA) works like a regular savings account but pays a significantly higher interest rate. Because many are offered by online banks without costly branch networks, they can offer APYs many times higher than the national average — while keeping your money safe, insured and accessible.
They're ideal for emergency funds, short-term goals like a vacation or home down payment, and any cash you want to keep liquid while it earns competitive interest.
Pros and cons of high-yield savings accounts
Pros
- Much higher APY than traditional savings
- FDIC or NCUA insurance up to $250,000
- Often no monthly fees or minimum balance
- Easy access to your money
- Open and manage entirely online
Cons
- Variable rates can drop at any time
- Some accounts limit monthly withdrawals
- Online-only banks may lack branches
- Returns may trail inflation or investing long-term
- Transfers to other banks can take 1–3 days
How to choose the best high-yield savings account
Look beyond the headline rate. These factors determine the real value of an account.
APY
Compare the annual percentage yield, and check whether it applies to your full balance or only certain tiers.
Fees
Choose accounts with no monthly maintenance fees, which can quickly erase your interest earnings.
Minimums
Check opening deposit and minimum balance requirements needed to earn the advertised APY.
Insurance
Confirm the bank is FDIC insured or the credit union is NCUA insured.
Access & app
Look for a well-rated mobile app, fast transfers and ATM access if you need it.
Rate history
Banks that keep rates competitive over time often matter more than a short-term promo rate.
High-yield savings vs. other options
| Feature | High-yield savings | Traditional savings | CD | Money market |
|---|---|---|---|---|
| Typical APY | High | Very low | High (fixed) | Moderate–high |
| Access to funds | Anytime | Anytime | Locked for term | Anytime, may include checks |
| Rate type | Variable | Variable | Fixed | Variable |
| Monthly fees | Usually none | Often | None | Sometimes |
| FDIC/NCUA insured | Yes | Yes | Yes | Yes |
How to open a high-yield savings account
- 1
Compare offers
Review APY, fees and minimums in the table above.
- 2
Apply online
Most applications take under 10 minutes.
- 3
Verify identity
Provide your ID, SSN and address.
- 4
Fund & earn
Link an existing account and start earning interest.
High-yield savings account FAQs
Ready to earn more on your savings?
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