Savers are still in a good place for now. Many high-yield savings accounts (HYSAs) are paying between 4.00% and 5.00% APY — a clear step up from the minimal interest most big banks continue to offer.
But things are starting to shift. The Fed cut rates last week, and that means today’s higher yields may not stick around much longer.
If you’ve been waiting to make a move, now’s a smart time to take advantage of one of the stronger offers while they’re still available. Here are today’s best high-yield savings account rates.
- Varo Savings — up to 5.00% APY (Max APY on up to $5,000, 2.50% APY after)
- AdelFi Money Market Savings — up to 5.00% APY ($25 min. to open. Max APY on up to $5,000, 2.25% APY for $5K-$10K. Promo code required)
- Fitness Bank Ultra Savings — 4.75% APY ($100 min. to open. Other terms apply)
- Pibank Savings — 4.60% APY (No min. balance)
- Presidential Bank Advantage Savings — 4.50% APY ($5,000 min. to open. Other terms apply)
- Axos ONE® — up to 4.46% APY (Min. balance: $1,500)
Data source: Issuing banks. Rates are accurate as of Sept. 21, 2025.
Is now a good time to open a high-yield savings account?
Even after last week’s Fed rate cut, many top HYSAs are still paying between 4.00% and 5.00% APY — some of the best returns in years and far above the tiny interest most big banks still offer.
They’re also safe and flexible. Deposits up to $250,000 are FDIC-insured, and you can move or withdraw your money whenever you need. With no lockup period, an HYSA is a practical choice for an emergency fund or short-term savings you want easy access to.
Still, things are shifting. With the Fed’s first rate cut of the year now in place, HYSA APYs may begin sliding lower as 2025 continues. That makes today’s higher returns especially valuable while they’re still available.
Open an HYSA in just 3 simple steps
Getting started with a high-yield savings account is quick and easy. Here’s how:
- Choose the best account for you. Look for a high APY, no monthly fees, and terms you can comfortably meet. A bank that also offers checking accounts can make transferring money back and forth much smoother.
- Complete the application. Most banks let you open an account right on their website. You’ll just need basic info like your address and Social Security number.
- Add your funds. Once approved, move money from your checking or savings into your new high-yield savings account. Transfers between banks can take a few business days to process.
That’s all it takes to start earning more on your savings. Just make sure to update any direct deposits or bill payments so they point to your new account.
How much interest can a high-yield savings account earn?
A 4.00% APY can make a big difference over time. Here’s what your savings could grow into at different starting balances:
|
Starting Balance |
1 Year |
5 Years |
10 Years |
20 Years |
|---|---|---|---|---|
|
$5,000 |
$204 |
$1,104 |
$2,457 |
$5,622 |
|
$10,000 |
$408 |
$2,208 |
$4,914 |
$11,244 |
|
$20,000 |
$816 |
$4,416 |
$9,828 |
$22,488 |
Data source: Author’s calculations.
As the years add up, even a small deposit can turn into thousands in interest — and that’s without adding another dime.
Every day you wait is a day your money could be earning more. Open one of the top HYSAs now and watch your savings work up to 10 times harder than they would in a regular account.