Best High Yield Savings Accounts

This page contains links to our partners. RBD may be compensated when a link is clicked. Read disclosures.

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.

Account Provider Product APY FDIC Insured? Learn More

Ponce Bank MMDA 5.26%

Save Now

Upgrade Premier Savings * 0.0521

Save Now

Public 0.051

Save Now

CIT Platinum Savings ^ 0.050

Save Now

Robinhood Gold ~ 0.05

Save Now

Webull Cash 0.05

Save Now

Great Lakes Credit Union 0.024

Save Now

WordPress Table Account Notes: All accounts are FDIC-insured. That means your deposits are protected up to $250,000 per account owner. A few account providers offer higher levels of insurance through a deposit network.

^ CIT Bank: Rate available on balances over $5,000. Several other products offer lower minimums with high interest rates.

~ Robinhood: FDIC-insured up to $1.5 million. A Robinhood Gold membership is required to get the highest rate. Membership is free for the first 30 days are free, then $5 a month. Gold provides several member benefits. No minimum account balance.

* Upgrade: $1,000 minimum deposit. Deposits held at Cross River Bank, Member FDIC, insured up to $250,000.

Set goal, make plan, get to work, stick to it, reach goal. These best high yield savings accounts will help you reach your financial objectives.

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 a secure place 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.

Featured photo via DepositPhotos used under license. 

Favorite tools and investment services right now:

Sure Dividend — Download the free Dividend Kings list, 50+ stocks with 50+ consecutive years of dividend increases. (review)

Fundrise — Simple real estate and venture capital investing for as little as $10. (review)

NewRetirement — Spreadsheets are insufficient. Get serious about planning for retirement. (review)

M1 Finance — A top online broker for long-term investors and dividend reinvestment. (review)