Looking to grow your money safely? Discover the best high yield savings accounts of May 2025 with APYs up to 4.66% and low minimum balance requirements.
When choosing the best high yield savings account, it’s essential to compare APYs, account requirements, digital tools, and fees. The accounts below represent some of the most competitive savings options available in 2025, offering strong returns and minimal friction.
Here’s a snapshot of the top-performing accounts of May 2025:
| Bank/Account Name | APY | Minimum Balance | Bonus | FDIC Insured |
| Axos ONE® Savings | 4.66% | $1,500 | No | Yes |
| Openbank High Yield Savings | 4.40% | $500 | No | Yes |
| LendingClub LevelUp | 4.40%* | $0 | No | Yes |
| My Banking Direct | 4.40% | $500 | No | Yes |
| BrioDirect Savings | 4.35% | $5,000 | No | Yes |
| EverBank Performance℠ | 4.30% | $0 | No | Yes |
| CIT Bank Platinum Savings | 4.10%** | $5,000 | No | Yes |
| *With qualifying deposits | ||||
| **APY applies only to balances of $5,000+ |
1. Axos ONE® Savings – 4.66% APY
Axos currently offers one of the highest APYs available, but to qualify, you’ll need either a $1,500 average balance and matching direct deposits, or maintain $5,000+ with certain external transfers. It’s part of a combo checking-savings product and includes full online access. There are no monthly maintenance fees.
2. Openbank High Yield Savings – 4.40% APY
Backed by Santander Bank, Openbank brings European banking tech to U.S. customers. You’ll need at least $500 to open the account, but there are no monthly fees. The app offers a modern interface and secure access to mobile transfers and balance tracking.
3. LendingClub LevelUp Savings – Up to 4.40% APY
With no minimum balance and no monthly fee, LendingClub’s LevelUp Savings earns top rates if you deposit at least $250 during your statement cycle. Otherwise, it drops to 3.40%. It’s a great fit for those who can automate monthly savings contributions.
4. My Banking Direct High-Yield Savings – 4.40% APY
Offered by Flagstar Bank’s online arm, this account offers a high APY with a modest $500 minimum deposit. There are no fees, and the online interface is straightforward. While there’s no app, the web access is clean and easy to use.
5. BrioDirect High-Yield Savings – 4.35% APY
BrioDirect stands out with its strong APY, though it requires a higher $5,000 deposit to open. It’s ideal for savers with larger balances who want to earn more interest with minimal account maintenance.
6. EverBank Performance℠ Savings – 4.30% APY
No minimum balance, no monthly fees, and a robust mobile app make EverBank a top contender. It’s a good all-around pick for those who want high yield with flexibility, plus it offers access to other products like CDs and checking.
7. CIT Bank Platinum Savings – 4.10% APY
To get the full APY, you need to maintain a balance of $5,000 or more. If your balance dips below that, the rate drops significantly. It’s best for people who plan to park larger amounts. CIT also offers a low $100 opening deposit and no monthly fee.
How to Choose the Best High Yield Savings Account
With so many competitive options, choosing the best high yield savings account in 2025 comes down to matching the account’s features with your financial habits and goals. Here are the key factors to evaluate:
1. Look for the Highest APY (Without Hidden Trade-Offs)
The APY (Annual Percentage Yield) tells you how much interest you’ll earn annually. While a higher APY is attractive, make sure you understand the conditions to earn it. Some accounts require minimum balances, direct deposits, or recurring transfers. Read the fine print.
2. Understand the Minimum Balance Requirements
Some top-rate accounts—like BrioDirect or CIT Platinum—require $5,000 or more to earn their advertised APYs. Others, like LendingClub and EverBank, offer strong yields with no minimum balance at all. Choose one that aligns with how much you plan to keep in savings.
3. Avoid Monthly Fees
Most high yield accounts waive maintenance fees, but a few still charge them unless you meet certain requirements. Fees can quickly eat into your interest earnings, so look for accounts with zero monthly fees or easy-to-waive conditions.
4. Prioritize Digital Access and Mobile Features
Online banks tend to offer better APYs because they save on branch costs—but not all offer great digital experiences. Make sure your savings account comes with a well-rated mobile app, secure transfers, and 24/7 access to your funds.
5. Verify FDIC or NCUA Insurance
Safety is non-negotiable. Make sure the bank or credit union is federally insured—FDIC for banks, NCUA for credit unions—up to $250,000 per depositor. This protects your money in case the institution fails.
6. Watch for Bonuses, but Read the Fine Print
Some accounts offer cash bonuses for opening or funding your account. While tempting, make sure the bonus doesn’t distract you from a lower APY or stricter account rules. In most cases, a higher ongoing yield is more valuable than a one-time perk.
Expert Tips to Maximize Interest Earnings
Once you’ve opened one of the best high yield savings accounts, there are a few simple steps you can take to make the most of it. A strong APY is only part of the equation—how you use the account can make a big difference in how fast your savings grow.
1. Set Up Automatic Transfers
Automating transfers from your checking to your savings ensures consistent growth and helps you stay on track with your financial goals. Even small, regular contributions compound over time—especially when earning 4% or more.
2. Maintain the Required Balance
Some accounts reduce your APY if your balance dips below a threshold. For example, CIT Bank Platinum Savings pays top rates only if you keep $5,000 or more. Monitor your balance regularly to avoid accidentally dropping into a lower tier.
3. Minimize Withdrawals
While high yield savings accounts are flexible, they’re not built for frequent transactions. Some institutions may still enforce a monthly withdrawal limit or charge a fee for exceeding it. Keeping your money parked helps preserve your APY and prevents erosion from penalties.
4. Use Multiple Accounts for Different Goals
It can be helpful to open more than one HYSA—one for your emergency fund, one for a vacation, another for a major purchase. This not only keeps your goals organized but allows you to shop around for the best APY for each use case.
5. Revisit Your Rate Regularly
Interest rates can shift based on the Federal Reserve’s moves and bank-specific policies. Check your rate every few months, and don’t hesitate to switch if another institution offers a better APY—especially if there’s no penalty to move your funds.
6. Consider Combining with CDs or Money Market Accounts
To diversify and potentially earn even more, you might split savings between a HYSA and other high-interest options like certificates of deposit (CDs) or money market accounts. Just ensure you understand the trade-off between liquidity and yield.
FAQs About High-Yield Savings Accounts
If you’re new to high-yield savings or just want to make smarter financial decisions in 2025, these frequently asked questions cover the essentials—minus the jargon.
Are High-Yield Savings Accounts Safe?
Yes. As long as the bank or credit union is FDIC- or NCUA-insured, your deposits are protected up to $250,000 per depositor, per institution. That means even if the bank fails, your money is safe.
Can the Interest Rate Change?
Yes. HYSA rates are variable, meaning they can go up or down depending on market conditions and decisions by the Federal Reserve. That’s why it’s smart to check your APY regularly and switch if better options become available.
How Often Is Interest Paid?
Most accounts compound interest daily and pay it monthly, which maximizes your earnings. Be sure to check each bank’s policy—compound frequency can subtly affect your total return over time.
Can I Lose Money in a HYSA?
Not in the traditional sense. Your principal is secure (unlike investments), and you’ll never lose money unless fees or withdrawals eat into your balance. That’s why choosing an account with no monthly maintenance fee is crucial.
Is There a Limit to How Many Times I Can Withdraw?
While the federal Regulation D six-withdrawal limit was lifted in 2020, some banks still impose their own limits—typically six per month. Going over may result in fees or account closure, so check the fine print.
Do I Pay Taxes on HYSA Interest?
Yes. The interest you earn is considered taxable income. If you earn more than $10 in a year, the bank will send you a 1099-INT tax form. Even if you don’t get the form, you’re still required to report the interest on your tax return.
Is It Worth Having More Than One HYSA?
Absolutely. Multiple accounts help you organize savings goals (e.g., emergency fund vs. travel fund) and let you take advantage of varying APYs across different banks. Just be sure not to spread your money too thin, or you might miss out on top-tier rates.
Final Thoughts: Why a High-Yield Savings Account Belongs in Every 2025 Financial Plan
With inflation still a factor and traditional bank rates barely scratching the surface, high yield savings accounts are no longer a niche option—they’re the smarter standard. The best accounts in 2025 are offering APYs up to 4.66%, giving savers a real opportunity to grow their money without taking on risk.
Whether you’re starting fresh or moving funds from a low-interest account, choosing one of the best high yield savings accounts puts you on track for greater financial security, better returns, and the flexibility to access your money when you need it.
From Axos ONE’s top-tier APY to no-fee, no-minimum options like LendingClub and EverBank, there’s never been a better time to upgrade where you save.
Don’t let your money sit idle—put it to work in 2025.
