Which High-Yield Savings Account Is Best Right Now? (July 2025 Edition)

If your savings are sitting in a traditional bank earning 0.01% APY, you’re losing money every month. High-yield savings accounts (HYSAs) offer significantly better interest rates with the same FDIC-insured safety and liquidity.

But not all HYSAs are created equal.

In July 2025, we analyzed and ranked the top options based on interest rates, fees, usability, and features. Whether you’re building your emergency fund, saving for a big trip, or setting aside cash for a future home, this guide will help you find the best account for your needs.

🏦 LendingClub High-Yield Savings

APY: 4.40%
Minimum Deposit: $0
Monthly Fees: None
Best For: Maximum interest with zero hassle

LendingClub offers one of the most competitive APYs in the country with no minimum balance or monthly fees. It’s an online-only account, so it’s perfect for digital-native savers who don’t need in-person banking.

Pros

• Extremely high APY

• No fees or minimums

• FDIC-insured up to $250,000

Cons

• No branch access

• Customer support is limited to online and phone

Example
With $10,000 in this account, you’d earn about $440 in interest per year — 44 times more than a 0.10% account.

💳 SoFi Checking and Savings

APY: Up to 3.80% with direct deposit
Minimum Deposit: $0
Monthly Fees: None
Best For: Modern app experience with hybrid spending and saving

SoFi combines checking and savings in one clean, mobile-first platform. To get the full APY, you’ll need to set up direct deposit, but in return, you also get access to overdraft protection, investing tools, and credit score monitoring.

Pros

• Great mobile app and desktop experience

• Direct deposit unlocks full APY

• Includes checking, savings, and budgeting tools

Cons

• Without direct deposit, APY drops

• Occasional delays in customer support chat

Example
A $5,000 balance with direct deposit will earn about $190 in a year — while also letting you manage bills and track goals in one place.

💼 American Express® High Yield Savings

APY: 3.60%
Minimum Deposit: $0
Monthly Fees: None
Best For: Brand recognition and stability

Backed by American Express, this account is a no-frills, dependable option with a decent APY. It lacks flashy tools, but makes up for it with responsive customer service and zero fees.

Pros

• No maintenance fees or balance minimums

• 24/7 customer support

• Trusted, established brand

Cons

• No mobile wallet or checking integration

• Limited app features

Example
With $15,000 in savings, you’ll earn about $540 annually in interest. It’s a quiet workhorse for conservative savers.

🧾 Barclays Online Savings

APY: 3.90%
Minimum Deposit: $0
Monthly Fees: None
Best For: A pure savings tool with consistent APY

Barclays offers a strong APY and a distraction-free interface. This is a great option if you want a separate place to park money for emergencies or upcoming goals without it getting tangled with your day-to-day spending.

Pros

• Consistently strong interest rates

• No fees or requirements

• Easy-to-use online interface

Cons

• No mobile check deposit

• No bundled features (like checking or investing)

Example
Save $20,000 in this account and you’ll earn around $780 in one year. The simplicity makes it ideal for focused goal-saving.

💵 CIT Bank Platinum Savings

APY: 4.00% on balances over $5,000
Minimum Deposit: $100
Monthly Fees: None
Best For: Larger balances that stay put

CIT offers tiered rates. The highest APY applies only when your balance stays above $5,000 — below that threshold, the rate drops. It’s an ideal home for medium-to-large emergency funds that don’t need daily access.

Pros

• Very competitive APY

• Solid mobile platform

• Optional automation and external transfers

Cons

• Requires a $5,000 balance to unlock top rate

• No ATM card or physical access

Example
If you keep $7,000 in this account, you’ll earn roughly $280 per year. But drop below $5,000 and your interest rate falls significantly.

📊 Comparison Snapshot

*Requires a minimum balance of $5,000

❓ Frequently Asked Questions

What is a high-yield savings account?

A high-yield savings account (HYSA) is a savings account that pays significantly more interest than a standard one — often 20 to 40 times more. These accounts are typically offered by online banks with lower overhead.

Are these accounts safe?

Yes. All the banks listed are FDIC-insured, which means your funds are protected up to $250,000 per depositor.

Can I access my money anytime?

Yes, but some banks limit the number of withdrawals to six per month. Most offer free, fast transfers to your external checking account.

Do I need a lot of money to open one?

Not at all. Most options on this list have no minimum deposit requirements. Only CIT Bank requires $100 to open and $5,000 to get the best rate.

Should I move all my savings to one of these?

It depends. If your goal is short- or mid-term savings — like an emergency fund or vacation — a HYSA is perfect. But for long-term investing (like retirement), you’ll want a separate brokerage account.

💡 Quick Tips for Choosing the Right HYSA

Start with how much you can keep in savings. If it’s over $5,000 and stable, CIT Bank or LendingClub may give you the best returns.
If you want to combine checking and savings, SoFi is a great all-in-one platform.
Avoid any account that charges monthly fees — none of the ones listed here do.
Set up an automatic transfer to your HYSA each payday to build savings effortlessly.
Keep emergency savings separate from your main bank to reduce the temptation to spend.

📎 Download the High-Yield Savings Account Comparison Guide (PDF)

This printable file includes:

• All five account reviews

• Pros and cons checklists

• Real-world interest examples

• A quick-view comparison table

• Full FAQ section for reference

📥 Click here to download the High-Yield Savings Account Comparison Guide (PDF)