Best High-Yield Savings Accounts of August 2025: Earn Up to 4.50% APY

Grow your savings faster with the best high-yield savings accounts from our partners, offering up to 11x higher APY (annual percentage yield) than traditional savings accounts.1
Last updated Aug. 29, 2025 | By FinanceBuzz Editors
Bank/Institution APY info Open Account Bonus Offer
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2025 award winner Best Checking and Savings Combo

5.0
info
4.50
% APY
With $0 min. balance2
LEARN MORE
on SoFi's secure website
Member FDIC
Limited-Time Offer: +0.70% boost to 4.50% APY on Savings for up to 6 months3 + up to $300 Bonus with direct deposit.4 Terms apply.
5.0
info
4.00
% APY
With $0 min. balance5
LEARN MORE
on E*TRADE's secure website
Morgan Stanley Private Bank, National Association, Member FDIC
N/A
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2025 award winner Best for Customer Service

5.0
info
3.50
% APY
With $0 min. balance6
LEARN MORE
on American Express' secure website
Member FDIC
N/A
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2025 award winner Best for Low or No Fees

4.5
info
3.90
% APY
With $0 min. balance7
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on Barclays' secure website
Member FDIC
N/A
4.3
info
3.10
% APY
With $100 min. balance8
LEARN MORE
on Alliant's secure website
Insured by NCUA
N/A


Today's Top High-Yield Savings Accounts

Limited-Time Offer
intro offer icon Limited-Time Offer: Up to 4.50% APY on Savings + $300 Bonus
SoFi Checking and Savings
5.0
info
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2025 award winner Best Checking and Savings Combo

  • Limited-Time Offer: Earn up to a $300 bonus and up to 4.50% APY on Savings (3.80% APY4with +0.70% APY Boost) for 6 Months on new accounts with eligible direct deposit. Terms Apply.3
  • No account, overdraft, or monthly fees9
  • Get your paycheck up to two days early10
  • Access additional FDIC insurance up to $3 million11
Learn More
on SoFi's secure website

intro offer icon Earn a 4.00% Annual Percentage Yield5with Premium Savings
Premium Savings
5.0
info
  • Earn a 4.00% Annual Percentage Yield5with Premium Savings
  • Manage your money from anywhere with their mobile app
  • No minimum initial deposit,12and no monthly account fees
  • FDIC insured up to $500,00013once certain conditions have been satisfied
LEARN MORE
on E*TRADE's secure website

American Express® High Yield Savings
5.0
info
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2025 award winner Best for Customer Service

  • Earn a competitive 3.50% annual percentage yield (APY)6 from a trusted brand
  • No minimum deposits or balances required, and no monthly fees14
  • Award-winning financial institution with 24/7 access to customer service representatives
  • Accounts offered by American Express National Bank, Member FDIC, Terms Apply
Learn More
on American Express' secure website

Barclays Tiered Savings
4.5
info
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2025 award winner Best for Low or No Fees

  • Earn 3.90% APY.7 The more you save, the more you'll earn. See offer page for more details
  • No monthly maintenance fees
  • Online transfers to and from other banks and direct deposit to make saving simple and easy
  • FDIC insured
Learn More
on Barclays' secure website

Alliant Credit Union High-Rate Savings
4.3
info
  • Earn more with a 3.10% APY8with only a $100 daily average minimum balance
  • Enjoy no monthly fees and access to 80,000+ fee-free ATMs nationwide15
  • Applying to become a member of this not-for-profit credit union is easy and rewards you with better rates and services
  • Deposits are federally insured up to $250,000 by the NCUA
Learn More
on Alliant's secure website



Frequently Asked Questions

When picking a new savings account, there are a few key things to consider, like the APY (annual percentage yield) they offer or the fees they charge. And remember, you don’t have to stick with just one account — opening different accounts can help you get the best rates and ensure your money is protected up to the legal limit.

Is my money safe in an online savings account?

Money in an online savings account is covered by protections as long as the account provider is FDIC insured, and virtually all major banks are. You'll typically see it stated as "member FDIC."

FDIC stands for Federal Deposit Insurance Corporation. The FDIC insurance covers accounts up to $250,000 accounts up to $250,000, so if your bank goes under financially, you will still get back all your money, up to that amount. The National Credit Union Administration provides similar insurance for credit unions.

What is a good interest rate for an online savings account?

Savings account interest rates vary from bank to bank and over time. The FDIC indicates the national average interest rate for savings accounts is 0.38% (as of 7/21/25) APY. That means if you see an account with a higher interest rate, it would allow you to beat the average.

What do I need to have to open an online savings account?

Requirements to open an online savings account vary by the financial institution. You generally need to provide your full name, address, contact details, and a Social Security number. Some banks also require you to provide your driver's license information. If you are planning to fund the new account with money from a different bank or credit union, you will also need that account information.

How do I deposit or withdraw money from an online savings account?

The process for depositing and withdrawing money from online savings accounts varies by bank or credit union. Generally, you can fund an online savings account via electronic transfer from another bank account, by direct deposit, or by depositing a check. Withdrawals can generally also be completed by bank-to-bank transfer, or you may be able to request a check or use a debit card if your bank allows it.



How we chose these products

FinanceBuzz evaluated a selection of bank accounts offered by our partners, looking at various criteria including interest rates, minimum deposit requirements, and more. We did not review all products in the category and compensation was considered when evaluating and ordering the products.