Inflation rates have been edging higher, and the U.S. economic outlook is cloudy, which may suggest that average savings account APYs could remain unchanged for a while longer. However, for those looking for a better return on their savings or opening a new account for a financial goal, there are high-yield savings accounts available.
Fortune has partnered with Curinos to provide an accurate look at the highest savings account rates available today. The best savings account rate from our partners is 5% offered by Varo Money. Other top options include American Express National Bank and Capital One Bank.
When choosing a high-yield savings account, consider factors such as interest rates, low or no minimums, monthly fees, accessibility of funds, security, and insurance. It’s essential to verify that the account is FDIC-insured and that you can easily withdraw or transfer money when needed.
Online banks offering high-yield savings accounts are typically those with a limited menu of products and no access to physical branches. However, they often have no minimum balance requirements or monthly fees, making them an ideal choice for emergency funds or short-term financial goals.
Before selecting a savings account, ensure it meets your needs. With the current outlook on interest rates, banks won’t have much incentive to reduce the best rates available on high-yield savings accounts.
Source: https://fortune.com/article/best-savings-account-rates-3-17-2025