High Yield Cash Accounts

The best high yield savings accounts pay competitive interest rates and give customers an excellent user experience. The accounts listed below meet those standards and are all FDIC-insured and RBD-recommended.

With interest rates far above the banking industry average, the savings accounts in the table above are suitable for consumers looking for high-yield savings but do not need a physical bank location.

The upside to the Federal Reserve increasing interest rates over the last few years is that consumers don’t have to look far to earn decent yields without taking risks.

Money that isn’t targeted for spending or investing should be held in a high-yield savings account to earn maximum interest while you decide what to do with the money. 

Emergency funds and monthly excess cash savings are best held in a high-yield savings account to maximize interest income and help keep up with inflation. 

These accounts are secure places to store your money while you build cash for a vacation, large purchases such as a down payment on a house or car, or for a rainy day. 

Above is a list of recommended high-yield savings and money market accounts. Each provides:

• Online and mobile access — Bank your way.
• FDIC Insurance — Your money is protected up to at least $250,000.
• Liquidity — Utilize free ACH transfers to access funds in 1-3 business days.
• Competitive interest rates and low minimum deposits — Must-haves for any new account.

Craig Stephens

Craig is a former IT professional who left his 19-year career to be a full-time finance writer. A DIY investor since 1995, he started Retire Before Dad in 2013 as a creative outlet to share his investment portfolios. Craig studied Finance at Michigan State University and lives in Northern Virginia with his wife and three children. Read more.