Best high-yield savings rates today – September 8, 2025
Key takeaways
- The highest rate on a savings account is currently 4.35% APY, which is offered from two banks. Several runners-up earn 4.30% APY.
- The best rates are more than seven times greater than national averages, so it’s worth shopping around for the right account.
- The Federal Reserve is widely expected to cut interest rates next week, which could spur lower rates on many savings accounts.
Today, the best rate on a high-yield savings account is 4.35 percent annual percentage yield (APY), and it’s offered from Peak Bank and ZYNLO Bank, both of which are online-only banks that are insured by the Federal Deposit Insurance Corp. (FDIC). Various other banks are offering highly competitive APYs of 4.20 percent or greater.
Whatever rate your savings account is earning, it pays to keep track of how it stacks up against other accounts. The best high-yield savings accounts are commonly offered from online-only banks and credit unions. The table below lists today’s top rates.
Today’s best high-yield savings accounts rates
| Bank | APY | Minimum opening deposit | Bankrate’s savings account score |
| ZYNLO Bank | 4.35% | $0 | 4.7/5 |
| Peak Bank | 4.35% | $100 | 4.9/5 |
| 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 | 4.9/5 |
| Jenius Bank | 4.20% | $0 | 4.7/5 |
| Openbank | 4.20% | $500 | 4.7/5 |
| Bask Bank | 4.15% | $0 | 5.0/5 |
| TAB Bank | 4.15% | $0 | 4.9/5 |
| Popular Direct | 4.10% | $100 | 4.9/5 |
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; however, policymakers are widely expected to cut rates during next week’s Federal Open Market Committee (FOMC) meeting.
Last month, Fed Chair Jerome Powell suggested the Fed may be on track for a September rate adjustment when he spoke at an annual central banking forum in Jackson Hole, Wyoming. He referred to signs of a softening job market, while also mentioning the risk of tariffs causing an ongoing inflation problem.
With “policy in restrictive territory, the baseline outlook and the shifting balance of risks may warrant adjusting our policy stance,” Powell said at the forum.
Putting the pieces together, what are the implications for monetary policy? In the near term, risks to inflation are tilted to the upside, and risks to employment to the downside—a challenging situation. When our goals are in tension like this, our framework calls for us to balance both sides of our dual mandate.— Jerome Powell | Chairman, Board of Governors of the Federal Reserve
Benefits of a savings account in any rate environment
Even if a lower federal funds rate results in decreased APYs on top-earning deposit accounts, a federally insured high-yield savings account remains a safe place for easy access to your funds. What’s more, the best high-yield savings accounts will continue to earn rates that are much greater than savings accounts that merely earn the national average.
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.
It’s always a good time to open a high-yield savings account to earn more interest on your money compared to a standard savings account. It’s so easy and quick, so why be complacent? High-yield savings accounts generally will always offer better interest rates than traditional accounts.— Swati Bhatia, head of retail banking & transformation for Santander Bank and CEO for Openbank in the United States
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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