High-yield savings accounts pay higher interest rates than traditional savings accounts. For instance, UFB Direct, Bread Savings, and BrioDirect all have savings accounts paying 2.15% or more.
Our best savings accounts guide and best high-yield savings account guide can be great starting points in your research, as they often include helpful features other than just high rates for customers. 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 1.90% APY or more right now. Keep in mind interest rates may change. Savings accounts have variable interest rates, which means that the rates may fluctuate at any time.
The Federal Reserve has recently increased the federal funds rate multiple times this year, so savings interest rates are also expected to steadily increase throughout 2022.
Best savings account interest rates
UFB Rewards Savings offers the highest interest rate on our list. UFB Rewards Savings could be worthwhile if you’d like easy access to your account — the savings account comes with an ATM card.
Meanwhile, the BrioDirect High-Yield Savings Account may be appealing if you are able to keep at least BrioDirect High-Yield Savings Account in your account daily.
The Bread Savings High-Yield Savings Account requires at least Bread Savings High-Yield Savings Account upfront. If you haven’t heard of Bread Savings, you might recognize the name Comenity Direct. Comenity Direct has recently been rebranded because its parent company, Bread Financial, has expanded to include lending options.
You might consider the Bask Bank Interest Savings Account if you’d like to open an account with Bask Bank Interest Savings Account.
The LendingClub High-Yield Savings Account is another great high-yield savings account. It could be a good choice if you have at least LendingClub High-Yield Savings Account to get started.
CIT Bank might be suitable for you if you plan multiple bank accounts. The CIT Bank Savings Connect Account requires a minimum opening deposit of CIT Bank Savings Connect Account.
The TAB High-Yield Savings Account is also strong high-yield savings account. It doesn’t have a minimum opening deposit.
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, and it lets you open checking and money market accounts if you live in Illinois, Michigan, Missouri, or Wisconsin.
If you’re comfortable combining your checking and savings into one account, you might consider opening the SoFi Checking and Savings account. The hybrid bank account comes with a debit card, and you’ll be able to earn SoFi Checking and Savings if you set up a direct deposit.