Our experts answer readers’ banking questions and write unbiased product reviews (here’s how we assess banking products). In some cases, we receive a commission from our partners; however, our opinions are our own. Terms apply to offers listed on this page.
The average interest rate paid by a savings account right now is FDIC National Deposit Savings Rates Annual Percentage Yield (APY), according to the FDIC.
Today, the best financial institution for earning a competitive interest rate on an online high-yield savings account is Primis Bank, which pays Primis Savings Account – APY APY on a Primis Savings Account – Product Name Only. National brick-and-mortar banks generally pay lower interest rates on traditional savings accounts. For example, TD Bank pays TD Simple Savings Account – APY APY on the TD Simple Savings Account – Product Name Only.
We’ve been checking over two dozen financial institutions to keep up with their new rate offerings. Our best savings accounts guide and best high-yield savings account guide can also be great starting points in your research — but if you prioritize finding the highest rates above all else, this list is for you.
Below, you’ll find some of the best high-interest savings accounts, CDs, high-yield checking accounts, and money market accounts available.
Best interest rates for savings accounts
Primis Savings Account – Product Name Only
Why it stands out: Primis Bank is a financial institution with branches in Maryland and Virginia. It offers an online savings account with a competitive interest rate. The Primis Savings Account – Product Name Only may be a good option if you’re searching for a savings account with a low minimum opening deposit.
Savings rate: Primis Savings Account – APY APY
What to look out for: The Primis Savings Account is an online-only account. If you would prefer to open an account at a Primis Bank branch, there are comparable bank accounts available.
MySavingsDirect Savings Account
Why it stands out: MySavingsDirect is an online division of Emigrant Bank. The MySavingsDirect Savings Account might be worth considering if your priority is finding an online-only savings account.
Savings rate: MySavingsDirect Savings Account APY
What to look out for: The MySavingsDirect Savings Account offers limited access to your money. If you need to make a withdrawal from your account, you’ll have to transfer money to an external bank account, which could take a few business days.
Other online banks may have ATM or debit cards which permit direct access to money in a savings account.
Popular Direct High-Rise Savings
Why it stands out: You might like Popular Direct High-Rise Savings if you have at least Popular Direct High-Rise Savings for an opening deposit. Popular Direct also may be a good choice if you’re searching for a savings account that doesn’t charge any monthly service fees.
Savings rate: Popular Direct High-Rise Savings APY
What to look out for: Popular Direct High-Rise Savings has a steep minimum opening deposit. Other banks will let you open a savings account with less money upfront.
Popular Direct only has savings accounts and CDs. Since there’s no checking account, you won’t be able to directly access money in your savings account. Instead, you’ll need to transfer an external bank account, which could take a few business days to process.
Best interest rates for CDs
Popular Direct Certificate of Deposit
Why it stands out: Popular Direct offers some of the best high-interest CDs. Its 3-month and 6-month CDs, in particular, stand out for their competitive interest rates.
Rates: The rates for Popular Direct CDs are as follows:
3 months: 4.10% APY
6 months: 4.50% APY
1 year: 4.75% APY
18 months: 4.65% APY
2 year: 4.60% APY
3 year: 4.60% APY
4 year: 4.47% APY
5 year: 4.55% APY
What to look out for: The bank requires a high minimum deposit of Popular Direct Certificate of Deposit. Other financial institutions may offer lower initial deposit requirements.
CFG Bank Certificate of Deposit
Why it stands out: CFG Bank CDs are a strong choice for a 1-year, 18-month, or 3-year CD. You only need CFG Bank Certificate of Deposit to open a CD, and you could earn a high rate.
Rates: The rates for CFG Bank CDs are as follows:
1 year: 1 Year – CFG Bank Certificate of Deposit APY
18 month: 18 Month – CFG Bank Certificate of Deposit APY
3 year: 3 Year – CFG Bank Certificate of Deposit APY
5 year: 5 Year – CFG Bank Certificate of Deposit APY
What to look out for: CFG Bank doesn’t have many CD terms to choose from — there are only 12-month, 18-month, 36-month, or 60-month CDs.
Quorum Federal Credit Union Term Savings
Why it stands out: Quorum Federal Credit Union offers a competitive interest rate on a 2-year CD.
You’ll earn 4.60% APY with a minimum deposit between Term Savings and $99,999, or 4.70% APY if you deposit more than $100,000 in your account.
Rate: The rates for Quorum Federal Credit Union Term Savings are as follows:
3 months: 1.70% APY
6 months: 1.95% APY
1 year: 2.10% APY
13 month (new money only): Quorum Federal Credit Union 13 Month Term Savings APY
18 month: 2.10% APY
2 year: Quorum Federal Credit Union 2 Year Term Savings APY
3 year: 2.20% APY
4 year: 2.25% APY
5 year: 2.35% APY
Keep in mind if you deposit $100,000 or more in a Term account, you’ll earn an additional 0.10% APY to the rate listed.
What to look out for: To open a bank account at a credit union, you’ll need to become a member first. At Quorum, you or a family member have to work for a Select Employee Group on this list, or you must join the American Consumer Council or Select Savers Club.
Rising Bank CD – Product Name Only
Why it stands out: Rising Bank is an online division of Midwest BankCentre. You may like Rising Bank if you’re looking for a 1-year or 15-month term.
Rate: The rates for Rising Bank CDs are as follows:
6 months: 3.50% APY1 year: Rising Bank 1 Year CD – APY APY15 months: Rising Bank 15 Month CD – APY APY2 years: 3.80% APY3 years: 3.85% APY
What to look out for: Interest is compounded and deposited every three months on Rising Bank CDs. Other financial institutions may compound interest monthly or daily, instead. Depending on how much money you plan to deposit into a CD, this may or may not make a significant difference.
Why it stands out: If you looking for a CD with a low minimum opening deposit, Marcus is a solid choice. Marcus High-Yield CDs can be opened with at least Marcus by Goldman Sachs High-Yield CD – Minimum Deposit. The online bank’s most competitive CD rates are its 18-month and 2-year terms.
Rate: The rates for Marcus High-Yield CDs are as follows:
6 months: 3.75% APY9 months: 3.95% APY1 year: 4.40 APY18 months: Marcus by Goldman Sachs 18 Month High-Yield CD – APY APY2 years: Marcus by Goldman Sachs 2 Year High-Yield CD – APY APY3 years: 4.00% APY4 years: 4.00% APY5 years: 3.80% APY6 years: 3.70% APY
What to look out for: Marcus only offers a high-yield savings account and CDs. If you would prefer to have all your banking in one place, you might prefer another financial institution.
Best interest rates for checking
Consumers Credit Union Free Rewards Checking Account
Why it stands out: The Consumers Credit Union Free Rewards Checking Account doesn’t charge monthly service fees. If you qualify for a tiered rate, you’ll also be eligible to get early direct deposit and unlimited ATM fee reimbursements.
You’ll get the most out of the account if you do the following:
Earn 3.00% APY if you have less than $10,000 when you sign up to receive eDocuments, make 12 monthly debit card purchases, and receive $500 in monthly direct deposits, mobile check deposits, or transfers from other banksEarn 4.00% APY if you meet the requirements to earn 3% and spend $500 per month with your Consumers Credit Union Credit CardEarn 5.00% APY if you meet the requirements to earn 3% and spend $1,000 per month with your Consumers Credit CardEarn 0.20% APY if you have an account balance between $10,000.01 and $25,000 when you receive eDocuments, make 12 monthly transactions, and receive $500 per month in direct deposits, mobile check deposits, or transfers from other banksEarn 0.10% APY if you have an account balance over $25,000 when you receive eDocuments, make 12 monthly transactions, and receive $500 per month in direct deposits, mobile check deposits, or transfers from other banks
If you don’t meet the requirements, you’ll only earn 0.01% APY on your account balance.
Rate: Consumers Credit Union Free Rewards Checking Account APY
What to look out for: Credit unions require membership to open accounts. To become a member, pay a one-time membership fee and open the Consumers Credit Union Membership Share Savings Account with at least Consumers Credit Union Membership Share Savings Account.
Juno Metal Checking Account
Why it stands out: Juno has a solid rewards checking account. The rate you’ll earn will vary depending on your account balance. You can earn up to a 5% yearly bonus on the first $10,000 in your account, and 3% on balances from $10,0001 to $250,000. You’ll also be able to earn 5% cash back when you shop at select retailers, and buy and sell cryptocurrency through Juno.
Rate: Juno Metal Checking Account APY
What to look out for: Juno has two types of accounts: Basic and Metal. The main difference between the two accounts is that the Juno Metal Checking Account has higher limits for yearly cash back, crypto purchases, and other perks than Juno Basic Checking Account.
To qualify for Metal, you’ll need to maintain a qualifying direct deposit of $250 or more per month or connect your Web3 Wallet so Juno can review your on-chain activity.
Personal Capital Cash Account
Why it stands out: The Personal Capital Cash Account might be worthwhile if you already use the investment platform Personal Capital. This cash management account doesn’t charge any monthly service fees; up to $2 million is FDIC insured in an account.
To earn 3.90% APY, you must be a Personal Capital advisory client. Otherwise, you’ll earn 3.85% APY.
Rate: Personal Capital Cash Account APY
What to look out for: Personal Capital only offers a cash management account, which is an alternative option to traditional checking and savings accounts. If you would like to open different types of accounts — for example, a money market account or CD — you might consider a bank or credit union instead.
Best interest rates for money market accounts
CFG Bank High Yield Money Market Account – Product Name Only
Why it stands out: CFG Bank offers a high interest rate on a money market account. You may like the CFG Bank High Yield Money Market Account – Product Name Only if you regularly maintain at least $1,000 in your account. That way, you’ll earn CFG Bank High Yield Money Market Account – APY APY and waive the $10 monthly service fee.
Rate: CFG Bank High Yield Money Market Account – APY APY
What to look out for: Usually money market accounts come with an ATM card, debit card, or paper checks. However, the CFG Bank High Yield Money Market Account – Product Name Only doesn’t have these options. If you’d like to withdraw money from your account, you’ll have to make a transfer to another account.
UFB Best Money Market Account
Why it stands out: You may like the UFB Best Money Market Account if you would like a money market account that includes paper checks and a debit card.
You’ll earn a high interest rate on the account, but there’s a UFB Best Money Market Account – Fees Display if you don’t maintain an account balance of at least $5,000.
Rate: UFB Best Money Market Account APY
What to look out for: If you don’t think you can maintain at least $5,000 in your account to avoid the monthly service fee, there are other banks that have lower minimum balance requirements or no monthly service fees.
Keep in mind that UFB Direct only offers a high-yield savings account and a money market account. If you would also like to open a checking account or CD with the same institution, another bank may be a better fit.