The 8 best high-yield savings accounts to open this October

When it comes to building your financial cushion, where you park your money matters almost as much as the amount you put away in your savings account. The problem many savers encounter, though, is that traditional savings accounts at major banks typically offer returns that are so minimal the balance barely budges over time, despite the interest compounding. That doesn't mean there are no options for earning heftier interest, though. For savers who want to grow their funds while maintaining easy access to their cash, high-yield savings accounts are a significantly more attractive alternative.

These specialized accounts work just like a traditional savings account, but the big difference is that they deliver annual percentage yields (APYs) that dramatically outpace what regular savings accounts provide, allowing your emergency fund, vacation savings or down payment stash to accumulate interest at a much faster rate. While a range of banks and credit unions offer these types of accounts, many of the top options come from online banks and credit unions that operate without the expense of maintaining physical branches, enabling them to pass those savings directly to customers through better rates.

And, as we close in on the last weeks of October, several financial institutions are offering particularly compelling options in terms of their high-yield savings accounts. The options featured below represent some of the top combinations of competitive yields, accessible requirements and beneficial terms available now. 

Start earning more on your money with a top high-yield savings account today.

The 8 best high-yield savings accounts to open this October

Whether you're just starting to build your savings or are looking to optimize returns on money you've already set aside, the options outlined below deserve serious consideration (rates are current as of October 21, 2025):

Newtek Bank personal high-yield savings

• APY: 4.35%
• Minimum deposit to open: $0
• Minimum deposit to earn the advertised rate: $0

Newtek Bank delivers the strongest yield on our list, with an APY that's more than 11 times higher than the national average. This account also eliminates barriers to entry entirely with no minimum deposit requirement and no minimum balance needed to earn its top-tier rate. The major tradeoff, though, involves withdrawal limitations. The bank restricts you to six monthly withdrawals, and the transfer options are limited, making it less flexible than some of the competitors, but still ideal for disciplined savers.

Explore today's top high-yield savings options and find the right fit for you now.

BrioDirect high-yield savings

• APY: 4.20% 
• Minimum deposit to open: $5,000
• Minimum deposit to earn the advertised rate: $25

Operating under the established Webster Bank umbrella, BrioDirect combines a high APY with zero monthly fees and unlimited withdrawals, offering serious flexibility to savers. The account requires a substantial $5,000 initial deposit, but once it's funded, you only need to maintain $25 to keep earning the advertised rate. There are no monthly maintenance fees tied to this account, either, and the bank allows for mobile check deposit capabilities through their app. It also allows for external transfers, mailed checks and wire deposits, making it easy to fund the account.

Openbank high-yield savings

• APY: 4.20%
• Minimum deposit to open: $500
• Minimum deposit to earn the advertised rate: $500

Openbank, Santander Bank's digital brand, offers its impressive rate across all balance levels with zero fees attached. The $500 opening requirement is also accessible for most savers, especially compared to the minimum opening requirements for many other high-yield savings account options and the bank advertises a remarkably quick account setup process. While you sacrifice physical branch access with this account, the click-to-call support feature provides direct human assistance when needed. Note, though, that debit cards and checks aren't available with this specific account.

LendingClub LevelUp Savings

• APY: 4.20%
• Minimum deposit to open: $0
• Minimum deposit to earn the advertised rate: Must deposit $250/month

LendingClub's savings option is a standout thanks to having no initial deposit or minimum balance requirements, although earning the top rate depends on maintaining monthly contributions of at least $250. The $0 opening deposit and low minimum balance requirements are particularly beneficial to savers who are building their reserves over time, and the high APY makes it appealing to a much wider range of savers. The account includes a free ATM card and charges no monthly maintenance fees. It's important to point out, though, that not meeting the $250 deposit requirement drops you to a lower standard rate.

Bread Savings high-yield savings

• APY: 4.20% 
• Minimum deposit to open: $100 
• Minimum deposit to earn the advertised rate: $100

Bread Savings applies its competitive rate to balances ranging from $100 up to $1 million, giving you substantial room for growth within your savings account. The bank's online-only operation means in-person support is not an option, but Bread Savings provides phone support seven days weekly, helping to address the challenges that can come with the absence of physical locations. The account terms are also attractive, as it comes with no monthly fees, charges nothing for incoming wires and allows unlimited mobile check deposits. Online statements are free, though paper versions cost $5.

My Banking Direct high-yield savings

• APY: 4.20% 
• Minimum deposit to open: $500 
• Minimum deposit to earn the advertised rate: $1

Flagstar Bank's digital banking arm manages this account through a highly-rated mobile banking app that streamlines everyday account management. After funding the account with $500 initially, the minimum required to open it, you'll only need to keep a single dollar in the account to earn and maintain the attractive rate, which is one of the highest offered currently. The fee-free structure and quick setup process also make this an appealing choice, especially for mobile-first savers who prioritize digital access.

EverBank Performance Savings

• APY: 4.05% 
• Minimum deposit to open: $0 
• Minimum deposit to earn the advertised rate: $0

While EverBank's current high-yield savings account rate falls slightly below the top tier, it still substantially outperforms traditional savings options and requires zero minimums for both the opening and ongoing balances. Interest compounds daily on this account, maximizing your earning potential. And, unlike many online-only competitors, EverBank operates physical branches in Florida and California, so savers in these states may be able to capitalize on in-person support if needed. Customer service operates Monday through Saturday for savers outside those two states, though Sunday support isn't available.

Forbright Bank Growth Savings

• APY: 4.00% 
• Minimum deposit to open: $0 
• Minimum deposit to earn the advertised rate: $0

Forbright Bank rounds out our list by offering a high-yield savings account with a rate that's 10 times the national average, and with no opening deposit required and no minimum balance restrictions. The account features daily compounding interest, no monthly fees and complete transparency with no hidden charges. The downside is, though, that despite having branches in Maryland and Virginia, this savings product operates exclusively through digital channels, which eliminates in-person service options.

The bottom line

High-yield savings accounts are one of the smartest places to keep readily accessible cash right now, with top options paying substantially more than what traditional banks offer. The accounts listed above provide various combinations of high yields, low barriers to entry and flexible terms that accommodate different saving styles. 

Whether you prioritize maximum returns, zero minimums or mobile convenience, there's an option here that aligns with your financial goals. Before committing, just be sure to carefully review each account's specific requirements and restrictions to ensure it matches how you plan to save and access your funds.