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If you’re searching for a place to save money for short-term goals, a high-yield savings account may be a good fit. The most competitive high-yield savings account offer more than 2.25% APY right now.
Our best savings accounts guide and best high-yield savings account guide can be great starting points in your research if you’re looking for bank accounts with unique perks or features. But if you prioritize finding the highest rates above all else, this list is for you.
What are the interest rates for savings accounts today?
The FDIC keeps tabs on national rates for interest-earning bank accounts. The average interest rate paid by a savings account right now is FDIC National Deposit Savings Rates.
We’ve been checking over a dozen financial institutions to keep up with their new rate offerings. Our list includes accounts with much higher interest rates than the national average, since online institutions tend to offer high-yield bank accounts.
The most competitive high-yield savings accounts pay up to 2.75% APY right now. Keep in mind interest rates may change. Savings accounts have variable interest rates, which means that the rates can fluctuate at any time.
The Federal Reserve has increased the federal funds rate several times this year, so savings interest rates are also expected to steadily increase throughout 2022.
Best savings account interest rates
Bask Bank Interest Savings Account: Bask Bank Interest Savings Account
The Bask Bank Interest Savings Account offers the highest interest rate on our list. Bask Bank could be a good fit if you’d like to open an account with Bask Bank Interest Savings Account. However, keep in mind that the online-only bank only offers two types of savings accounts. If you’re looking for a checking account or a CD, you’ll want to consider other financial institutions.
TAB Bank High-Yield Savings Account: TAB High-Yield Savings Account
You might consider banking with TAB Bank if you’re looking to open other accounts along with your high-yield savings account. TAB Bank pays competitive rates on CDs along with its TAB High-Yield Savings Account.
TAB Bank doesn’t have an ATM network though, so when you use any ATM, the bank will charge you a fee.
BrioDirect High-Yield Savings Account: BrioDirect High-Yield Savings Account
The Redirect High-Yield Savings Account may be appealing if you can open an account with at least BrioDirect High-Yield Savings Account. Most high-yield savings accounts at online banks have lower minimum opening deposits, though.
UFB Rewards Savings: UFB Rewards Savings
UFB Rewards Savings could be worthwhile if you’d like easy access to your account — the savings account comes with an ATM card. UFB Direct only offers types of online savings accounts.
CIT Bank Savings Connect: CIT Bank Savings Connect Account
The CIT Bank Savings Connect Account is straightforward savings account with a high-interest rate. CIT Bank might be ideal if you’re searching for CDs or money market accounts, too. CIT Bank is currently offering a unique promotional offer through its money market account, and the bank offers a wide range of CD options.
Citizens Access Online Savings Account: Citizens Online Access Savings Account
The Citizens Online Access Savings Account is a great online-only high-yield savings account with zero monthly service fees. However, keep in mind you’ll need at least Citizens Online Access Savings Account to open an account.
CIBC Agility Account: CIBC Agility Account
The CIBC Agility Account is a good high-yield savings account overall, as long as you have at least CIBC Agility Account to open the account.
CIBC Bank USA is the US division of the Toronto-based bank Canadian Imperial Bank of Commerce. CIBC Bank USA has an online savings account and CDs that you can open from anywhere in the US. It also lets you open checking and money market accounts if you live in Illinois, Michigan, Missouri, or Wisconsin.
LendingClub High-Yield Savings Account: LendingClub High-Yield Savings Account
The LendingClub High-Yield Savings Account might be ideal if you have at least LendingClub High-Yield Savings Account to open an account. LendingClub also has a solid cash-back checking account.