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Best high-yield savings accounts by APY

If you're looking for a high-yield savings account with a high APY then you have multiple options to choose from. Getty Images

Economic conditions have been challenging lately. Inflation is high, the stock market is uneven and some banks are wavering. The Federal Reserve has also continued to increase interest rates

While those rates have made buying a home and refinancing your mortgage expensive, they've also come with a silver lining: higher savings rates

Are you looking to take advantage of these higher rates to stow away more cash? In this article, we will break down some of the best high-yield savings accounts by APY. If you think you could benefit from opening a high-yield savings account then start exploring your options here to see how much more you could be earning.

Best high-yield savings accounts by APY

Ready to start earning more money? Here are six of the current best high-yield savings accounts by APY broken down by the interest account holders can earn, the minimum opening deposit, the fees for the account and any additional notable highlights.

UFB Direct

UFB Direct offers the highest-yield savings account we could find, with a 5.02% annual percentage yield. The digital bank requires no maintenance fees and has no minimum balance requirements. 

UFB Direct is FDIC insured through Axos Bank, and there's also the option to increase your insurance coverage for accounts above $250,000. The bank also offers money market accounts (also with a 5.02% APY).

  • APY: 5.02%
  • Minimum opening deposit: $0
  • Fees: No maintenance or service fees
  • Highlights: FDIC-insured, comes with an ATM card and check-writing privileges, account management via SMS messaging, and mobile deposits.  

Bread Savings

Bread Savings' high-yield account offers the second-highest APY we found, at 4.50%. The bank is FDIC-insured, and there's just a $100 minimum opening deposit required. 

The bank also offers certificates of deposit (CDs) in one- to five-year terms. The APYs on these range from 4.16% to 5.10%. 

  • APY: 4.50%
  • Minimum opening deposit: $100
  • Fees: $15 fee per check, $25 per outgoing wire transfer, $5 per paper statement
  • Highlights: FDIC insured, no maintenance fees, low minimum deposit

Bask Bank

Bask Bank's high-yield savings account comes in just a hair lower than Bread's, with a 4.45% APY. There's no minimum balance requirement or monthly service fee.

If you're a big traveler, the bank also offers a mileage savings account, which allows you to accrue American Airlines miles for every $1 saved.

  • APY: 4.45%
  • Minimum opening deposit: $0
  • Fees: No monthly fees
  • Highlights: FDIC-insured, no monthly fees, no minimum deposit

You can easily explore your Bask Bank options here now.

Popular Direct

Popular Direct's High Rise Savings account offers the same APY as Bask Bank, only it requires a minimum deposit of at least $5,000. The bank is fully digital, offering services via web and mobile app.

Popular Direct also offers CDs in one-, three-, and five-year terms. The APYs on these range from 4.50% to 5.10%

  • APY: 4.45%
  • Minimum opening deposit: $5,000
  • Fees: $5 fee per withdrawal over six per month period, $10 overdraft
  • Highlights: FDIC-insured, mobile check deposits and transfers 


LendingClub's high-yield savings account comes with a 4.25% APY and requires just a $100 minimum deposit. Unlike many others on this list, it also offers a free ATM card to access your funds more easily. 

LendingClub also offers banking and investing services, personal loans, business loans, car refinancing and more.

  • APY: 4.25%
  • Minimum opening deposit: $100
  • Fees: No monthly fees
  • Highlights: Free ATM card, mobile check deposits, free and unlimited external transfers


Citizens' APY is right on par with LendingClub's, coming in at 4.25%. The bank charges no fees, and you can open an account online in just a few minutes.  

The bank also offers mortgages, student loans, and CDs. Citizens' one-year CD comes with a 4.75% APY. 

  • APY: 4.25%
  • Minimum opening deposit: $5,000
  • Fees: No fees
  • Highlights: FDIC-insured, mobile deposits

Explore all of your high-yield savings account options online now and find the one with the best APY!

Shop around for your savings account

If you're looking to increase your savings, these are good places to start but make sure to shop around. High-yield savings account interest rates are always changing, and there's a chance your local bank or credit union may offer similar or even better ones near you.

You might also explore CDs or other products where interest rates are rising. If this is something you're considering, speak to an investment professional or financial advisor for help. You can use the table below to start researching your options now.

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