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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 UFB Direct, which pays UFB Best Savings – APY APY on UFB Best Savings – Product Name Only.
National brick-and-mortar banks typically pay lower interest rates on traditional savings accounts. For example, Bank of America pays Bank of America Advantage Savings Account – APY APY on the Bank of America Advantage Savings Account – Product Name Only. If you’d like to earn a more competitive interest rate at a national brick-and-mortar bank, you’ll probably have to consider a premium savings account or money market account.
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 accounts 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. Our top picks have remained the same over the last couple of days because rates haven’t changed significantly.
Best interest rates for savings accounts
UFB Best Savings – Product Name Only
Why it stands out: UFB Best Savings – Product Name Only comes with a complimentary ATM card, so you’ll have easy access to your bank account.
Savings rate: UFB Best Savings – APY APY
What to look out for: Customers with existing savings accounts may have to call customer service to get upgraded for the newest rate.
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.
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.
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.
Best interest rates for CDs
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:
12 months: 1 Year – CFG Bank Certificate of Deposit APY18 months: 18 Month – CFG Bank Certificate of Deposit APY3 years: 3 Year – CFG Bank Certificate of Deposit APY5 years: 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.
Alliant Certificate – Product Name Only
Why it stands out: Alliant Credit Union is a strong choice if you would rather be part of a credit union instead of a bank. Alliant Certificates offer competitive interest rates, particularly for 3-month and 6-month terms.
Rate: The rates for Alliant Certificates are as follows:
3 months: Alliant 3 Month Certificate – APY APY6 months: Alliant 6 Month Certificate – APY APY12 months: Alliant 1 Year Certificate – APY APY18 months: Alliant 18 Month Certificate – APY APY2 years: Alliant 2 Year Certificate – APY APY3 years: Alliant 3 Year Certificate – APY APY4 years: Alliant 4 Year Certificate – APY APY5 years: Alliant 5 Year Certificate – APY APY
What to look out for: Credit unions require you to become a member to open accounts. The easiest way to become a member is to join Foster Care to Success, and Alliant will cover your $5 joining fee.
Ally High Yield CD – Product Name Only
Why it stands out: Ally High-Yield CDs are a good option if you want to open a CD with a Ally High Yield CD – Minimum Deposit minimum opening deposit. It also has low early withdrawal penalties for most terms. The 18-month CD offers the most competitive interest rate right now.
Rate: The rates for Ally High-Yield CDs are as follows:
3 months: Ally 3 Month High Yield CD – APY APY6 months: Ally 6 Month High Yield CD – APY APY9 months: Ally 9 Month High Yield CD – APY APY12 months: Ally 1 Year High Yield CD – APY APY18 months: Ally 18 Month High Yield CD – APY APY3 years: Ally 3 Year High Yield CD – APY APY5 years: Ally 5 Year High Yield CD – APY APY
What to look out for: Ally doesn’t allow you to deposit cash. To fund your account, you’ll need to transfer money from an external bank account or deposit a check through mobile banking.
Bethpage Federal Credit Union Certificate Account – Product Name Only
Why it stands out: You may like Bethpage Credit Union if you prefer banking with a credit union instead of a bank.
Bethpage offers a competitive interest rate on its 1-year certificate. You also might find Bethpage appealing if you’d like to open an account with a low initial deposit.
Rates: The rates for Bethpage Certificate Accounts are as follows:
3 months: Bethpage Federal Credit Union 3 Month Certificate Account – APY APY6 months: Bethpage Federal Credit Union 6 Month Certificate Account – APY APY12 months: Bethpage Federal Credit Union 1 Year Certificate Account – APY APY18 months: Bethpage Federal Credit Union 18 Month Certificate Account – APY APY2 years: Bethpage Federal Credit Union 2 Year Certificate Account – APY APY30 months: Bethpage Federal Credit Union 30 Month Certificate Account – APY APY3 years: Bethpage Federal Credit Union 3 Year Certificate Account – APY APY4 years: Bethpage Federal Credit Union 4 Year Certificate Account – APY APY5 years: Bethpage Federal Credit Union 5 Year Certificate Account – APY APY
What to look out for: To join Bethpage FCU, you need to open a Bethpage Federal Credit Union Savings Account – Product Name Only account with Bethpage Federal Credit Union Savings Account – Minimum Deposit.
Capital One 360 CD – Product Name Only
Why it stands out: Capital One 360 CDs do not require an initial deposit and come in a variety of terms. Capital One has a special limited-time offer, where you could earn Capital One 11 Month 360 CD – APY APY on an 11-month CD if you open an account by March 14, 2023.
Rate: The rates for Capital One 360 CDs are as follows:
6 months: Capital One 6 Month 360 CD – APY APY9 months: Capital One 9 Month 360 CD – APY APY11 months: Capital One 11 Month 360 CD – APY APY12 months: Capital One 1 Year 360 CD – APY APY18 months: Capital One 18 Month 360 CD – APY APY2 years: Capital One 2 Year 360 CD – APY APY30 months: Capital One 30 Month 360 CD – APY APY3 years: Capital One 3 Year 360 CD – APY APY4 years: Capital One 4 Year 360 CD – APY APY5 years: Capital One 5 Year 360 CD – APY APY
What to look out for: Capital One 360 doesn’t have no-penalty CDs or bump-up CDs. If you’re looking for these special types of CDs, you might prefer another online bank.
Synchrony CD – Product Name Only
Why it stands out: Synchrony lets you open a CD with Synchrony CD – Minimum Deposit upfront. It’s 14-month CD also notably pays Synchrony 14 Month CD – APY APY.
Rates: The rates for Synchrony CDs are as follows:
3 months: Synchrony 3 Month CD – APY APY6 months: Synchrony 6 Month CD – APY APY9 months: Synchrony 9 Month CD – APY APY12 months: Synchrony 1 Year CD – APY APY13 months: Synchrony 13 Month CD – APY APY14 months: Synchrony 14 Month CD – APY APY15 months: Synchrony 15 Month CD – APY APY16 months: Synchrony 16 Month CD – APY APY18 months: Synchrony 18 Month CD – APY APY19 months: Synchrony 19 Month CD – APY APY2 years: Synchrony 2 Year CD – APY APY3 years: Synchrony 3 Year CD – APY APY4 years: Synchrony 4 Year CD – APY APY5 years: Synchrony 5 Year CD – APY APY
What to look out for: You’ll want to consider whether you have a preference on how you’ll withdraw money from a CD. At Synchrony, you must call customer service to cash out your CD.
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 Consumers Credit Union Free Rewards Checking Account – Basic Requirements + $10k or LESS – APY APY if you have $10,000 or less 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 Consumers Credit Union Free Rewards Checking Account – $500 Spend + Basic Requirements + $10k or LESS – APY APY if you meet the requirements to earn Consumers Credit Union Free Rewards Checking Account – Basic Requirements + $10k or LESS – APY APY and spend $500 per month with your Consumers Credit Union Credit CardEarn Consumers Credit Union Free Rewards Checking Account – $1k Spend + Basic Requirements + $10k or LESS – APY APY if you meet the requirements to earn Consumers Credit Union Free Rewards Checking Account – Basic Requirements + $10k or LESS – APY APY and spend $1,000 per month with your Consumers Credit CardEarn Consumers Credit Union Free Rewards Checking Account – BETWEEN $10k and $25k – APY 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 Consumers Credit Union Free Rewards Checking Account – ABOVE $25k – APY 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 Consumers Credit Union Free Rewards Checking Account – Requirements not met – APY 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.
Primis Premium Checking – Product Name Only
Why it stands out: Similar to the Primis Savings Account – Product Name Only, Primis Premium Checking – Product Name Only offers a competitive interest rate and low minimum opening deposit. This checking account may also be a good option if you are looking for a checking account that has early direct deposit.
Rate: Primis Premium Checking – APY APY
What to look out for: Primis ATMs are primarily located near Primis branches. If you don’t live in Maryland or Virginia, you’ll have to use out-of-network ATMs. Primis doesn’t charge ATM fees and will also provide reimbursements if you’re charged by an out-of-network ATM provider. That said, you may have to wait until the business day your statement cycle ends to receive your ATM reimbursements.
Another thing to keep in mind is that Primis Premium Checking – Product Name Only is only available online. If you would like to open a checking account at a Primis Bank branch, there are comparable accounts offered.
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 CFG Bank High Yield Money Market Account – Fees Display.
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.
U.S. Bank Elite Money Market Account – Product Name Only
Why it stands out: The U.S. Bank Elite Money Market Account – Product Name Only has an introductory bonus interest rate for new eligible customers who open an account by March 10, 2023.
You could earn a blended APY of 1.07% APY (3.50% during the first three months of opening an account) if you maintain an account balance between $25,000 and $499,999.99. After the three-month period, you’ll earn anywhere from 0.1% to 0.75% APY, depending on your account balance.
Rate: U.S. Bank Elite Money Market Account – APY APY
What to look out for: The introductory bonus interest rate is not available for anyone who currently has a U.S. Bank savings or money market account or owned one in the last six months. You also won’t be eligible for the bonus interest rate if you got another U.S. Bank bonus in the last six months.
The U.S. Bank Elite Money Market Account – Product Name Only also has a U.S. Bank Elite Money Market Account – Fees Display. To waive the monthly maintenance fee, you’ll need to maintain a daily account balance of $10,000 or more.
Popular savings account options
The highest rate isn’t necessarily going to be the right account for you. If you’re interested in a good rate at a national brand, here are some banks that offer competitive rates. Ally is an Insider staff favorite.