High-yield savings accounts continue to offer great rates. Here’s where you can get three deals earning at least 4.40 percent right now.
Once relegated to the minor leagues of the asset management market, high-yield bank accounts have made a comeback in recent years, mainly because the Federal Reserve boosted interest rates so high that 5 percent bank savings rates were common.
With the Fed in moderation mode in 2025, high-yield accounts aren’t as lofty these days—the higher rates are in the 4.50 percent range but that’s still enough to attract the attention of conservative, income-minded investors.
“Right now, bank savings rates are still solid but they’re slowly drifting lower,” said Baruch Silverman, CEO at the Smart Investor, a digital financial advice platform. “Most high-yield savings accounts and CDs [Certificate of Deposit accounts] hold above 3.5 percent (a few offer +4 percent), which is still strong historically. But with inflation cooling, recession chatter picking up, and pressure on the Fed (especially from President Trump) to lower rates, the peak might be behind us.”
With the clock ticking, Silverman says bank savers may want to get into a solid high-yield account sooner rather than later. “If you're sitting on the sidelines, it's a good time to lock in one of the better rates still out there, just know they may not last if the Fed starts easing later this year.”
These bank high-yield accounts may fit the bill.
You may have to jump through some hoops to get the deal but the Varo high-yield savings account is at the top of the list, rate-wise. You’ll need to qualify for the account, but once you clear that hurdle, you earn the 5 percent return up to $5,000. You’ll need at least $1,000 in monthly direct deposits and a positive savings account deposit number at the end of each month.
The Axos ONE checking and savings account offers a reasonable path to that 4.66 percent high-yield return. You’ll need to maintain an average daily balance of $1,500 and receive at least $1,500 in monthly deposits into your Axos ONE checking account.
Account Search and Management Tips
Even as good deals are out there, go into a bank high-yield savings account experience with your eyes wide open. Take these strategies with you to protect yourself.Go the Digital Route
The best rates are usually online. “There are no big buildings, no huge staffing costs, so those savings end up in the interest they offer,” said David Kindness, a certified public accountant, tax expert, and personal finance analyst at Best Money, a consumer personal finance platform.When vetting high-yield deals, don’t just look at the rate. Make sure to check the fine print, too.
Check the Costs
Make sure to watch for fees. “A 4.5 percent APY doesn’t mean much if you’re paying $10 monthly maintenance charges,” Kindness said.'All-in-One' Online High-Yield Savings Account Platform
Raisin, a secure bank savings aggregator formerly known as SaveBetter, offers a good deal for high-yield savings account customers looking for solid deals on one platform.The platform’s single log-in allows new customers to avoid opening a new bank account, which requires sharing personal information, shelling out cash to cover fees, and being limited to a handful of bank savings account options.
Instead, Raisin has partnered with dozens of federally regulated banks and credit unions to offer savers access to the best bank savings, checking, high-yield, and money market rates, all with a one-stop user-friendly website interface. The platform offers deals from 70 participating banks and credit unions, including offers exclusive to Raisin users.