Best Banks for High-Yield Savings Accounts in 2025

High-yield savings accounts (HYSAs) have become increasingly popular among savers looking to maximize their earnings on their cash reserves. With traditional savings accounts offering minimal interest rates, HYSAs provide an attractive alternative for those looking to grow their money without the risks associated with investing in the stock market.

What to know about HYSA rates

Banks and credit unions offering HYSAs can adjust their Annual Percentage Yields (APYs) at any time, usually in response to changes in the Federal Reserve’s benchmark interest rate. The APY represents the total interest earned on the account over one year with compounding, making it a key factor to consider when comparing HYSAs. Typically, online banks and credit unions offer higher APYs than traditional brick-and-mortar banks, as they have lower operating costs.

Some HYSAs may have high opening balance requirements or minimum balance requirements to earn the advertised APY. It’s essential to understand the terms and conditions of each account to make an informed decision.

How we chose our top picks

Our team conducted thorough research on approximately 60 HYSAs offered by various financial institutions to identify the best options available. We considered factors such as APY, minimum opening balances, and fees to compile a list of top picks that offer competitive rates and favorable terms for account holders.

Our top picks for the best banks for high-yield savings accounts

1. BrioDirect
   • APY: 4.45%
   • Minimum opening requirement: $5,000
   • Minimum balance for advertised APY: $25
   • Why we chose it: BrioDirect offers a high-earning HYSA with a competitive APY and no monthly maintenance fees. It’s an online banking brand that caters to savers looking to maximize their savings.
2. Openbank
   • APY: 4.40%
   • Minimum opening requirement: $500
   • Minimum balance for advertised APY: $500
   • Why we chose this company: Openbank offers a solid 4.40% APY on all balance tiers with a straightforward account opening process and online banking convenience.
3. LendingClub
   • APY: 4.40%
   • Minimum opening requirement: $0
   • Minimum balance for advertised APY: $0
   • Why we chose this company: LendingClub’s HYSA offers a competitive APY with the potential to earn higher rates by meeting certain deposit requirements.
4. Bread Savings
   • APY: 4.40%
   • Minimum opening requirement: $100
   • Minimum balance for advertised APY: $100
   • Why we chose this company: Bread Savings provides a competitive APY on a wide range of balances with excellent customer service and online banking features.
5. My Banking Direct
   • APY: 4.40%
   • Minimum opening requirement: $100
   • Minimum balance for advertised APY: $100
   • Why we chose this company: My Banking Direct offers an attractive APY on its HYSA with a user-friendly mobile banking app and easy account opening process.

     These top picks represent some of the best options available for individuals looking to maximize their savings through high-yield savings accounts. Each account offers competitive rates, minimal fees, and convenient access to funds, making them ideal choices for savers of all levels.

     Other HYSAs we considered

     In addition to our top picks, there are several other financial institutions offering competitive APYs on their HYSAs. Companies like SoFi, Bask Bank, and CIT Bank provide attractive options for savers seeking higher returns on their cash reserves.

     Conclusion

     High-yield savings accounts offer a secure and convenient way for individuals to grow their savings with competitive interest rates. By choosing the right HYSA that aligns with your financial goals and preferences, you can make the most of your money while keeping it easily accessible when needed.

     If you’re considering opening a high-yield savings account, be sure to compare the options available, consider the APY, fees, and account features, and choose a reputable financial institution that meets your needs. With the right HYSA, you can watch your savings grow while enjoying the peace of mind that comes with FDIC or NCUA insurance protection.