Highest Interest Rates for Savings Accounts - August 7, 2025
In the current financial landscape, savers are reaping the benefits of high-yield savings accounts that offer annual percentage yields (APYs) significantly above the national average. These accounts, which range from about 4.35% to 5.00%, provide attractive opportunities for maximising savings returns.
One such option is Bask Bank, offering a 4.20% APY with no minimum opening deposit. Other notable mentions include Axos Bank with a 4.46% APY and Newtek Bank with 4.35% APY, according to data from NerdWallet in July 2025. Peak Bank also offers 4.35% APY with no monthly fees and a $100 minimum deposit.
Synchrony Bank and American Express High Yield Savings account holders can enjoy APYs of 3.80% and 3.5%, respectively, with no minimum balance requirements. These accounts, like many others in the top tier, have no minimum opening deposit.
The national average APY for savings accounts remains much lower, typically below 1%, historically. The elevated APYs in 2025 reflect the higher interest rate environment maintained by the Federal Reserve, which has paused rate cuts amid inflation uncertainty.
The list of top high-yield savings accounts includes a diverse range of banks and credit unions, such as Alliant Credit Union, Ally Bank, Amerant Bank, and many more. It is essential to choose a bank insured by the Federal Deposit Insurance Corp. (FDIC) or a credit union insured by the National Credit Union Administration (NCUA).
To find the best high-yield savings accounts, our website rates these institutions on their savings account's APYs, monthly fees, minimum deposit requirements, access to funds, and more. Savings account holders are often limited to six withdrawals per month, with any additional ones triggering an excessive transaction fee.
When choosing a high-yield savings account, be cautious of promotional APYs that may have strings attached or become less competitive over time. High-interest savings accounts are often found at online-only banks and credit unions.
Our website 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. We encourage feedback to improve the content and services of our website, and responses are anonymous and will only be used for improving the website.
The Federal Reserve has held its benchmark federal fund rate at a range of 4.25-4.5 percent in 2025, leading to stable deposit account APYs. Variable APYs, which can fluctuate at any time, based on the bank's needs or changes in the federal funds rate, should be considered with caution.
Forbright Bank offers a 4.25% APY with no minimum opening deposit, while BrioDirect offers a 4.30% APY with a minimum opening deposit of $5,000. Openbank provides a 4.20% APY with a minimum opening deposit of $500. TAB Bank offers a 4.15% APY with no minimum opening deposit, and EverBank offers a 4.30% APY with no minimum opening deposit.
In summary, the best high-yield savings accounts in 2025 provide APYs around 4.35% to 5.00%, far surpassing the much lower national average APY, presenting strong opportunities for maximising savings returns.
Personal-finance management can benefit greatly from high-yield savings accounts, as these financial products offer attractive opportunities, with APYs ranging from 4.20% to 5.00%, significantly higher than the national average. Investing in these savings accounts, such as those offered by Bask Bank, Axos Bank, Newtek Bank, or Peak Bank, can aid in maximizing savings returns.
