| Bank/Institution | APY
|
Bonus Offer | Open Account | Bonus Offer |
|---|---|---|---|---|
2025 award winner
Best Checking and Savings Combo
|
||||
/images/2024/07/31/sofi_logo_-_cropped.png){kind=logo}
5.0
|
4.50
With $0 min. balance
%
APY
|
Limited-Time Offer: +0.70% boost to 4.50% APY on Savings for up to 6 months2 <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.3 <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. | ||
/images/2024/09/26/f95fec3b-2c8f-4c35-ac65-ae8b0e92e0c7.png)
4.9
|
3.40
With $0 min. balance4 <p>Annual Percentage Yield (APY). Advertised Online Savings Account APY is accurate as of 09/30/25. Applies to personal accounts only. APY may change before or after the account is opened. No minimum deposit to open.</p>
%
APY
|
Limited-Time Offer: Earn up to a $200 bonus
using code EC925 to open your first Discover® Online Savings account.5 <p class="">To qualify for Bonus: Apply for your first Discover Online Savings Account, enter Offer Code EC925 at application, deposit into your Account a total of at least $15,000 to earn a $150 Bonus or deposit a total of at least $25,000 to earn a $200 Bonus. Qualifying deposit(s) may consist of multiple deposits and must post to Account within 45 days of account open date. Maximum bonus eligibility is $200. What to know: Offer not valid for existing or prior Discover savings customers. Eligibility is based on primary account owner. Account must be open when bonus is credited. Bonus will be credited to the account within 60 days of qualifying for the bonus. Bonus is subject to tax reporting. Offer ends 03/12/2026, 11:59 PM ET. Offer may be modified or withdrawn without notice. Due to new customer funding limits, you may wish to initiate fund transfers at your other institution. For information on funding, see FAQs on <a href="https://www.discover.com/online-banking/">Discover.com/Bank</a>.</p> See website for details.
|
||
/images/2025/08/04/cit_bank_logo_member_fdic_1.png){kind=logo}
4.3
|
3.85
With $5,000 min. balance6 <p>Platinum Savings is a tiered interest rate account. Interest is paid on the entire account balance based on the interest rate and APY in effect that day for the balance tier associated with the end-of-day account balance. APYs — Annual Percentage Yields are accurate as of Sep. 23 2025: 0.25% APY on balances of $0.01 to $4,999.99; 3.85% APY on balances of $5,000.00 or more. Interest Rates for the Platinum Savings account are variable and may change at any time without notice. The minimum to open a Platinum Savings account is $100.</p>
%
APY
|
Limited-Time Offer: Earn a $225 cash bonus when you deposit $25,000, or a $300 cash bonus when depositing $50,000 or more | ||
|
2025 award winner
Best for Customer Service
|
||||
/images/2025/05/02/0466c535-77ad-49b9-adab-f9b5ad447916.png)
5.0
|
3.50
With $0 min. balance7 <p>The Annual Percentage Yield (APY) as advertised is accurate as of July 23, 2025. Interest rate and APY are subject to change at any time without notice before and after a High Yield Savings Account is opened. </p>
%
APY
|
- | ||
/images/2025/05/29/alliant_logo_final.png){kind=logo}
4.3
|
3.10
With $100 min. balance8 <p>The savings dividend provides an Annual Percentage Yield (APY) of 3.10%. The APY is accurate as of the 6/26/2025 dividend declaration date. Dividends are paid on the last day of the month to accountholders who have maintained an average daily balance of $100 or more. Savings dividend may change after account is opened and is subject to change at any time. Dividend applies to Savings, Supplemental Savings, Emergency Savings, Kids Savings Accounts, UTMA Custodial Accounts, Trust Accounts and IRA. Fees may reduce earnings on the account.</p>
%
APY
|
- | ||
/images/2024/08/01/wa_logo_-_cropped.png){kind=logo}
4.3
|
4.10
With $1 min. balance9 <p>APY means Annual Percentage Yield. APY is accurate as of 09/30/25. Interest rate and APY may change after initial deposit depending on the terms of the specific product selected. Minimum opening deposit is $1.00.</p>
%
APY
|
Limited-Time Offer: Use code EASY to earn $75 for $10,000, $250 for $25,000, $500 for $50,000, or $1,000 for $100,000+ deposited10 <p>New customers only. Earn a cash bonus when you deposit and maintain funds with partner banks on the Raisin platform. Customers will receive $75 for depositing between $10,000 and $24,499, $250 for depositing between $25,000 and $49,999, $500 for depositing between $50,000 and $99,999, and $1,000 for depositing $100,000 or more. To qualify for the bonus, your first deposit must be initiated between August 1, 2025, and November 30, 2025, by 11:59 PM ET, and the promo code EASY must be entered at the time of sign-up. Only funds deposited within 14 days of the initial deposit date and maintained with partner banks on the Raisin platform for 90 days will be eligible for this bonus. Bonus cash will be deposited by Raisin into the customer’s linked external bank account within 30 days of meeting all qualifying terms. This offer is available to new customers only and may not be combined with any other bonus offers. Raisin reserves the right to modify or terminate this offer at any time.</p> | ||
Today's Top High-Yield Savings Accounts
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on SoFi's secure website, Member FDIC
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on Discover's secure website, Member FDIC
/images/2025/08/04/cit_bank_logo_member_fdic_1.png){kind=logo}
on CIT Bank's secure website, Member FDIC
/images/2025/05/02/0466c535-77ad-49b9-adab-f9b5ad447916.png)
on American Express' secure website, Member FDIC
/images/2025/05/29/alliant_logo_final.png){kind=logo}
on Alliant's secure website, Insured by NCUA
/images/2024/08/01/wa_logo_-_cropped.png){kind=logo}
on Raisin's secure website, Member FDIC
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.
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.
Savings account interest rates vary from bank to bank and over time. The FDIC indicates the national average interest rate for savings accounts is 0.4% (as of 9/15/25) APY. That means if you see an account with a higher interest rate, it would allow you to beat the average.
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.
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.