Best high-yield savings rates today – August 7, 2025
Key takeaways
- Today, you can find high-yield savings account rates of up to 4.35% APY.
- It’s worth comparing rates, with the highest-yielding accounts earning more than seven times the national average APY.
- The Federal Reserve has held its benchmark rate steady so far in 2025. As a result, high-yield savings account APYs remain elevated.
Today’s best high-yield savings accounts are earning up to 4.35 percent annual percentage yield (APY), which is currently offered by Peak Bank. The benefits of such high-earning accounts is they provide easy access to your funds while earning yields that are well above the national average for savings accounts.
Savings account rates are variable, meaning the bank can change them at any time. As such, it pays to know what your account is earning and how that stacks up to offerings from other banks and credit unions. Below you’ll find a table that lists today’s top rates.
Today’s best high-yield savings rates
| Bank | APY | Minimum opening deposit | Bankrate’s savings account score |
| Peak Bank | 4.35% | $100 | 4.8/5 |
| EverBank | 4.30% | $0 | 5.0/5 |
| Rising Bank | 4.30% | $1,000 | 4.7/5 |
| BrioDirect | 4.30% | $5,000 | 4.9/5 |
| Forbright Bank | 4.25% | $0 | 4.9/5 |
| Bread Savings | 4.25% | $100 | 4.8/5 |
| Jenius Bank | 4.20% | $0 | 4.7/5 |
| Bask Bank | 4.20% | $0 | 5.0/5 |
| Openbank | 4.20% | $500 | 4.7/5 |
| TAB Bank | 4.15% | $0 | 4.9/5 |
APYs are accurate as of August 7, 2025. APYS, minimum opening deposits and our Bankrate score may change. APYs and account availability could vary by region.
The latest news from the Federal Reserve
Competitive banks often respond to Federal Reserve interest rate changes by increasing their APYs when the Fed hikes rates, and they may decrease APYs when the Fed cuts rates. So far, the Fed has held its benchmark federal fund rate at a range of 4.25-4.5 percent in 2025; as a result, you may see continued stability in deposit account APYs, at least until the next Fed meeting in September.
Where can I find the best savings account rates?
You’ll often find high-interest savings accounts at online-only banks, some of which are relatively new and choose to pay competitive yields to attract new customers. Since they don’t pay to operate branches, these banks may be able to pass along the savings to customers through higher yields.
Credit unions can be another source of high APYs on savings accounts. In addition to high yields, the best credit unions commonly offer low (or no) monthly maintenance fees, personalized service and community involvement.
Keep in mind: Choose a bank that is insured by the Federal Deposit Insurance Corp. (FDIC) or a credit union that is insured by the National Credit Union Administration (NCUA). Deposits are insured for up to $250,000 per depositor, per FDIC-insured bank, per ownership category.
When shopping around for the highest rate, be wary of accounts with promotional APYs with strings attached or that are likely to become less competitive over time.
Be aware of some [accounts] that may offer a higher interest rate, but with conditions. These conditions are sometimes for a limited period of time, for a minimum account balance. Sometimes the rate is only for a certain [number] of dollars then lowers to another, less competitive interest rate.— Autumn Knutson, CFP, founder and lead financial planner at Styled Wealth
Terms to know
Annual percentage yield (APY): A percentage that indicates how much interest a savings account earns in one year, which takes into account the effect of compounding.
Excessive transaction fee: Savings account holders are often limited to six withdrawals per month, with any additional ones triggering an excessive transaction fee.
Minimum deposit: Some banks require a set minimum opening deposit for new accounts. Similarly, some require you to maintain at least a certain balance to avoid monthly maintenance fees. It can pay to find a bank with no minimum deposit requirements.
Variable APY: A variable APY is a yield that can fluctuate at any time. Banks may change their APYs due to the need for more deposits or when the federal funds rate fluctuates.
Research methodology
Bankrate researches over 100 banks and credit unions, including some of the largest financial institutions, online-only banks, regional banks and credit unions with both open and restrictive membership policies.
To find the best high-yield savings accounts, we rated these institutions on their savings account’s APYs, monthly fees, minimum deposit requirements, access to funds and more.The highest-rated savings accounts from broadly-available banks and credit unions, that also had the highest APYs, made our list. Learn more about how we choose the best banking products and our methodology for reviewing banks.
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