FinanceBuzz's experts found the top high-yield CDs and annuities paying up to 14X higher APY (annual percentage yield) than traditional savings.1 <p class="">The product and annual percentage yield (APY) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your area. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. Always verify account details and availability with the financial institution before opening an account.<br></p>
With a $20,000 deposit, 4.00% APY earns $816 in interest in one year vs. just $78 in a regular savings account with the national average 0.39% APY.2 <p>For illustrative purposes only. Interest rate and APY may change after initial deposit.</p> That's real money back in your pocket — thanks to FinanceBuzz's trusted recommendations.
Open one of the top high-yield accounts from our partners below to lock in today's high rates.
Featured High-Yield Account:
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Today's Top High-Yield CDs and Annuities
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on Raisin's secure website, Member FDIC
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on Raisin's secure website, Member FDIC
on Raisin's secure website, Member FDIC
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on Synchrony's secure website, Member FDIC
High-Yield Savings Accounts: Flexibility Meets High Returns
Want the high interest of a CD, but don't want your money locked away? With a high-yield savings account, you get the best of both worlds: competitive APYs, often up to 11x higher than traditional savings, plus the freedom to access your cash anytime.
Compare today's top high-yield savings accounts from our partners and start growing your savings while keeping your money within reach.
| Bank/Institution |
APY
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Open Account | Bonus Offer |
|---|---|---|---|
2025 award winner Best Checking and Savings Combo |
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5.0
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4.50
With $0 min. balance6 <p>SoFi members who enroll in SoFi Plus with Eligible Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or SoFi members with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. If you have satisfied Eligible Direct Deposit requirements for our highest APY but do not see 3.80% APY on your APY Details page the day after your Eligible Direct Deposit arrives, please contact us at 855-456-7634. Additional information can be found at <a href="http://www.sofi.com/legal/banking-rate-sheet">http://www.sofi.com/legal/banking-rate-sheet</a>. See the SoFi Plus Terms and Conditions at <a href="https://www.sofi.com/terms-of-use/#plus">https://www.sofi.com/terms-of-use/#plus</a>.</p>
%
APY
|
Limited-Time Offer: +0.70% boost to 4.50% APY on Savings for up to 6 months7 <p>Earn up to 4.50% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.80% APY as of 8/5/25) for up to 6 months. Open a new SoFi Checking & Savings account with Eligible Direct Deposit by 1/31/26. Rates variable, subject to change. Terms apply at <a href="https://www.sofi.com/banking/#2">sofi.com/banking#2</a>. SoFi Bank, N.A. Member FDIC.</p> + up to $300 Bonus with direct deposit.8 <p>New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Eligible Direct Deposit. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at <a href="https://www.sofi.com/banking/">sofi.com/banking</a>. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.</p><p>SoFi members with Eligible Direct Deposit can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 3.80% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. Additional information can be found at <a href="http://www.sofi.com/legal/banking-rate-sheet" >http://www.sofi.com/legal/banking-rate-sheet</a>.</p> Terms apply. | |
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5.0
|
4.00
With $0 min. balance9 <p>As of 04/30/2025, the Annual Percentage Yield (APY) of the Premium Savings Account offered by Morgan Stanley Private Bank, National Association, Member FDIC is 4.00%. Your interest rate and APY may change at any time and fees may reduce earnings. Please visit <a href="http://etrade.com/ratesheet">etrade.com/ratesheet</a> for information regarding this account's current interest rate and corresponding APY.</p>
%
APY
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LEARN MORE
on E*TRADE's secure website
Morgan Stanley Private Bank, National Association, Member FDIC
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N/A |
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2025 award winner Best Overall High-Yield Savings Account |
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4.9
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3.50
With $0 min. balance
%
APY
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N/A | |
Frequently Asked Questions
What's better, a CD or a high-yield savings account?
The right financial product between a CD account and a high-yield savings account will depend on your needs and goals.
CD accounts often pay higher APYs than savings or money market accounts. Banks and credit unions often offer these higher rates to incentivize you to keep your money with them for an extended period. In general, the longer the CD term, the higher the interest rate you're likely to receive. Unfortunately, some come with minimum deposit requirements, though this isn't the case with every CD. CDs could also have better rates but require you to lock your money up for a set time period. If you need to access your money before the CD term ends, you might have to pay a penalty to withdraw money early.
Pros
| Cons
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High-yield savings accounts could provide a decent interest rate today, but your rate isn't locked in for a set period. If interest rates decrease, you might not earn as much money in a high-yield savings account over the same period as you would with a CD. These accounts could be a good option for an emergency fund, as your money is more easily accessible and they may offer a higher yield than a traditional savings account.
What types of CDs are available?
Institutions might offer a variety of CDs with different rates and terms to attract customers. Here are some general types of CDs commonly offered.
- Traditional CDs: These are basic CDs with a set term and interest rate. They may have early withdrawal penalties, depending on the account and bank.
- No-penalty CDs: These CDs might allow you to withdraw money before the term expires without paying a penalty.
- Jumbo CDs: These CDs generally have large minimum balance requirements and may offer higher interest rates due to these requirements.
- Potential rate increase CDs: These CDs might allow you to increase your interest rate if CD rates increase during a certain period.
- High-yield CDs: These CDs focus on offering the best interest rates available for a particular term.
Do CD accounts have monthly fees?
CD accounts generally do not have monthly fees. You may have to pay a penalty to withdraw funds before a CD's maturity date, though. Check with your institution before opening a CD account if you have questions about fees or penalties.
What if I withdraw from a CD early?
If you withdraw from a CD early, you'll likely have to pay an early-withdrawal penalty. There are some exceptions to this rule, such as if you signed up for a no-penalty CD account. But most of the time, you'll have to pay at least seven days' worth of simple interest for withdrawing your money early — and most banks charge more than that. Check your account's terms and conditions for details.
What should I look for when evaluating CD options?
Choosing the correct CD for you comes down to many factors. Here are several things you may want to consider to find the best account for you.
- NCUA- or FDIC-insured: Since certificates of deposit generally qualify for NCUA or FDIC insurance, which protects your money against the risk of loss. It's essential to pick a CD from a member FDIC or NCUA institution.
- Online vs. brick and mortar bank: People often have strong preferences about whether they want to bank online or in person. Take these feelings into account before choosing a CD. And keep in mind, online institutions could offer higher interest rates.
- Minimum deposit: Some banks and credit unions have minimum deposit requirements to open a CD account. These limits might be high in some cases, so double-check the minimums before choosing a CD.
- CD term: Choose a CD term you're comfortable with, unless you're opting for a no-penalty CD. Otherwise, you might have to pay penalties to access part or all of the funds in the CD before its maturity date.
- CD type: Banks offer several different CD options, including no-penalty CDs, CDs with a potential rate adjustment, and traditional CDs. Consider your needs to find the one that fits best for your goals.
- Interest rate: The interest rate determines how much money you'll earn from your CD. While shopping for the best interest rate is a good idea, you must make sure all other aspects of the CD fit your investing goals before looking at interest rates.
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- Grow your savings faster with a guaranteed 5.45% APY10 <p>Annual Percentage Yield (APY) rates subject to change at any time, and the rate mentioned may no longer be current. Please visit <a href="https://gainbridge.io/fastbreak">Gainbridge.io/fastbreak</a> for current rates, full product disclosures and disclaimer. All guarantees are based on the claims-paying ability of the issuing insurance company. FastBreak™ is issued by Gainbridge Life Insurance Company in Zionsville, Indiana. Gainbridge Life Insurance Company is currently licensed and authorized to do business in 49 states (all states except New York), the District of Columbia and Puerto Rico.</p>
- FastBreak™ is a powerful annuity that guarantees risk-free, steady returns
- No need for a large upfront contribution — start today with as little as $1,000
How we chose these products
FinanceBuzz evaluated a selection of CD accounts offered by our partners, looking at various criteria including account fees, bonus offers, and more. We did not review all products in the category and compensation was considered when evaluating and ordering the products.