As we move into July, high-yield savings accounts (HYSAs) are still offering standout returns -- with top rates above 4.00% and some reaching as high as 5.00% APY. That's a major upgrade compared to the near-zero interest from many traditional banks.
Since the Fed kept rates unchanged in June and isn't expected to revisit them until later this month, there's still time to take advantage of these elevated yields.
If you want to earn solid interest without giving up access to your cash, now's a smart time to open a high-yield savings account. Here are the best rates available today.
Featured pick: The Barclays Tiered Savings account stands out with a 3.90% APY and no minimum balance required to earn interest. It's one of the few top-tier rates still widely available -- and with no account fees, it's a smart move while rates remain high. Open a Barclays Tiered Savings account today.
Data source: Issuing banks. Rates are accurate as of July 2, 2025.
Product | APY | Min. to Earn | |
![]() SoFi Checking and Savings Member FDIC. APY up to 3.80% Rate info SoFi members who enroll in SoFi Plus with Eligible Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or SoFi members with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. If you have satisfied Eligible Direct Deposit requirements for our highest APY but do not see 3.80% APY on your APY Details page the day after your Eligible Direct Deposit arrives, please contact us at 855-456-7634. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. See the SoFi Plus Terms and Conditions at https://www.sofi.com/terms-of-use/#plus. Min. to earn $0 Open Account for SoFi Checking and Savings On SoFi's Secure Website. | up to 3.80% Rate info SoFi members who enroll in SoFi Plus with Eligible Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or SoFi members with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. If you have satisfied Eligible Direct Deposit requirements for our highest APY but do not see 3.80% APY on your APY Details page the day after your Eligible Direct Deposit arrives, please contact us at 855-456-7634. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. See the SoFi Plus Terms and Conditions at https://www.sofi.com/terms-of-use/#plus. | $0 | Open Account for SoFi Checking and Savings On SoFi's Secure Website. |
APY 3.60% Rate info 3.60% annual percentage yield as of July 3, 2025. Terms apply. Min. to earn $0 Open Account for American Express® High Yield Savings Account On American Express's Secure Website. | 3.60% Rate info 3.60% annual percentage yield as of July 3, 2025. Terms apply. | $0 | Open Account for American Express® High Yield Savings Account On American Express's Secure Website. |
![]() CIT Platinum Savings Member FDIC. APY 4.00% APY for balances of $5,000 or more Rate info 4.00% APY for balances of $5,000 or more; otherwise, 0.25% APY Min. to earn $100 to open account, $5,000+ for max APY Open Account for CIT Platinum Savings On CIT's Secure Website. | 4.00% APY for balances of $5,000 or more Rate info 4.00% APY for balances of $5,000 or more; otherwise, 0.25% APY | $100 to open account, $5,000+ for max APY | Open Account for CIT Platinum Savings On CIT's Secure Website. |
At Motley Fool Money, we rate savings accounts on a five-star scale (1 = poor, 5 = best). We evaluate all savings accounts across four main criteria: annual percentage yield (APY), brand and reputation, fees and minimum requirements, and perks that really make a difference -- think ATM access, linked checking accounts, or even branch access.
Our scores are weighted as:
Our aim is to maintain a balanced list featuring top-scoring products from reputable brands offering competitive APYs and standout features. Learn more about how Motley Fool Money rates bank accounts.
At Motley Fool Money, we rate savings accounts on a five-star scale (1 = poor, 5 = best). We evaluate all savings accounts across four main criteria: annual percentage yield (APY), brand and reputation, fees and minimum requirements, and perks that really make a difference -- think ATM access, linked checking accounts, or even branch access.
Our scores are weighted as:
Our aim is to maintain a balanced list featuring top-scoring products from reputable brands offering competitive APYs and standout features. Learn more about how Motley Fool Money rates bank accounts.
Rates are still high -- but they may not stay that way for much longer. With the Fed keeping interest rates steady until at least its next meeting on July 29–30, there's still time to take advantage of high APYs. Right now, many HYSAs are offering returns as high as 5.00%.
But don't assume these rates are here to stay. As shown in the chart below, deposit rates can change quickly. The last time the Fed shifted its stance, average savings rates jumped from below 0.10% to nearly 0.50% in just over a year. If the Fed starts cutting rates later this year -- as many expect -- today's top yields could begin dropping just as fast.
Opening an HYSA is quick and straightforward -- here's what to do:
How much you earn from a high-yield savings account comes down to two things: the annual percentage yield (APY) and your total account balance.
For example, if you park $10,000 in an account offering 3.90% APY, you'd earn about $390 in interest over the course of a year. And unlike a CD, your cash stays fully accessible. That's a big improvement over the tiny returns you'd get from a standard savings account at a traditional bank.
Opening an account with a top-tier APY, like Barclays Tiered Savings, can help you maximize your returns before rates drop. Open a Barclays Tiered Savings account here before rates fall again.
For those who plan to utilize direct deposit with their new account, the SoFi Checking and Savings account (Member FDIC) is tough to beat. Not only does this savings account offer a strong APY of up to 3.80%, but the linked checking account earns an above-average rate, too -- a rare perk.
Frankly, it's the kind of combo that could make it worthwhile to switch banking relationships. Open a SoFi Checking and Savings account (Member FDIC) today.
Right now, the best savings account rates are those between 4.00% and 5.00%. You can earns hundreds more per year on your savings compared to keeping your money in an account with the national average savings APY of 0.38%.
The biggest downside of a high-yield savings account is that interest rates can fluctuate. Unlike the fixed rates of CDs, the interest rate on savings accounts can change based on market conditions, potentially reducing your earnings over time. This variability means your returns might not be as predictable as with other fixed-rate investments.
Yes, high-yield savings accounts are safe as long as they're offered by an FDIC-insured bank or NCUA-insured credit union. Your deposits are protected up to $250,000 per person, per institution, in case the bank or credit union fails.
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