Highest Savings Rates Today: July 25, 2022

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Account

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Editor’s rating

4.25 / 5

A five-pointed star

A five-pointed star

A five-pointed star

A five-pointed star

A five-pointed star

Open an account with at least $ 100

Editor’s rating

4/5

A five-pointed star

A five-pointed star

A five-pointed star

A five-pointed star

A five-pointed star

Editor’s rating

4.25 / 5

A five-pointed star

A five-pointed star

A five-pointed star

A five-pointed star

A five-pointed star

Open and keep at least $ 25 in your account

Editor’s rating

4.25 / 5

A five-pointed star

A five-pointed star

A five-pointed star

A five-pointed star

A five-pointed star

Open an account with at least $ 100

Editor’s rating

4.25 / 5

A five-pointed star

A five-pointed star

A five-pointed star

A five-pointed star

A five-pointed star

Open an account with at least $ 100 and open a CIT eChecking account

Editor’s rating

4/5

A five-pointed star

A five-pointed star

A five-pointed star

A five-pointed star

A five-pointed star

Editor’s rating

3.75 / 5

A five-pointed star

A five-pointed star

A five-pointed star

A five-pointed star

A five-pointed star

Open an account with at least $ 1,000

Editor’s rating

5/5

A five-pointed star

A five-pointed star

A five-pointed star

A five-pointed star

A five-pointed star

Editor’s rating

4/5

A five-pointed star

A five-pointed star

A five-pointed star

A five-pointed star

A five-pointed star

Open an account with at least $ 5,000

A high yield savings account is a great way to earn more interest on your money. A high yield savings account pays a lot more than a traditional savings account, and many accounts have zero monthly service fees.

Our guide to the best savings accounts and the guide to the best high yield savings accounts can be great starting points in your search, as they often include useful features in addition to high customer rates. But if you have a priority of finding the highest rates above all else, then this list is for you.

What are the interest rates for savings accounts today?

The FDIC monitors national rates for interest-bearing bank accounts. The average interest rate earned by a savings account right now is 0.10% APY.

We have checked over a dozen financial institutions to keep up with their new rate offerings. Our list includes accounts with much higher interest rates than the national average as online institutions tend to offer high yield bank accounts.

The most competitive high yield savings accounts pay 1.65% APY or more right now. Keep in mind that interest-bearing accounts can change. Savings accounts have a variable interest rate, which means that the rate can fluctuate at any time.

The Federal Reserve recently raised the federal funds rate for a third time this year, so interest rates on savings are also expected to rise steadily throughout 2022.

Best savings account interest rates

Annual percentage return (APY)

2.02% APY

Minimum deposit amount

Nobody

Annual percentage return (APY)

2.02% APY

Minimum deposit amount

Nobody

Professionals

  • High interest rate
  • No minimum opening deposit
  • No monthly service fee

versus

  • No joint bank account
  • It may not be easy to deposit cash

More information

  • Interest compounded daily and deposited monthly
  • FDIC insured through Texas Capital Bank

The Bask bank interest savings account pays the highest interest rate on our list. It does not require a minimum opening deposit and pays 2.02% APY right now.

You may want to consider the Quontic High Yield Savings Account if you are looking to open a variety of bank accounts. Quontic has many options, including cash, CD, and money market accounts.

UFB High Yield Savings and the BrioDirect High Yield Savings Account also earn a competitive interest rate higher than what many traditional and high yield savings accounts pay right now.

UFB High Yield Savings might be useful if you want easy access to your account – the savings account comes with an ATM card. The BrioDirect High Yield Savings Account can be attractive if you are able to keep at least $ 25 in your account every day.

The Bread Savings High Yield Savings Account is another great high yield savings account. It might be a good choice if you have at least $ 100 to get started.

If you haven’t heard of Bread Savings, you may be familiar with Comenity Direct. Comenity Direct was recently renamed because its parent company, Bread Financial, has expanded to include loan options.

In the meantime, CIT Bank may be suitable for you if you plan to open a checking and savings account. The CIT Bank Savings Connect account requires a minimum opening deposit of $ 100. You will also need to open a CIT Bank checking account to qualify for this savings account.

The Bask Bank Interest Savings Account is also a strong, high-yield savings account. It does not require a minimum opening deposit and pays 1.61% APY right now.

CIBC Bank USA is the US division of the Toronto-based Canadian Imperial Bank of Commerce and also allows you to open checking and money market accounts if you live in Illinois, Michigan, Missouri and Wisconsin. You may like the CIBC Agility Account if you have at least $ 1,000 for a minimum opening deposit.

The Synchrony High Yield Savings Account does not have a minimum opening deposit. It also includes an ATM card so you can withdraw money from an ATM instead of transferring funds to a checking account.

The Citizens Online Access savings account is overall a good high yield savings account, as long as you have at least $ 5,000 to open the account.

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