In a world where inflation eats away at your savings, finding a bank account that pays you back is like striking gold. The good news? High-interest savings and checking accounts are easier than ever to access—if you know where to look. Whether you’re saving for a rainy day, your next vacation, or just want your money to grow passively, we’ve got you covered with the best options available right now.
Why Interest Rates Matter
Let’s be honest—parking your cash in a low-interest account is leaving money on the table. High-interest bank accounts help your money grow over time without lifting a finger. Even a small rate difference can mean hundreds of extra dollars per year on large balances.
Top High-Interest Bank Accounts (2025 Update)
1. UFB Direct – High-Yield Savings Account
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APY: Up to 5.25%
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Monthly Fees: None
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Minimum Balance: $0
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Why it’s hot: UFB Direct consistently offers one of the highest APYs in the market. It’s ideal for savers who want top-tier interest without maintaining a high balance.
2. SoFi Checking & Savings
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APY: Up to 4.60% (with direct deposit)
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Monthly Fees: None
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Extras: Early pay, up to 15% cash back on purchases
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Why it’s hot: Combines checking and savings in one sleek platform. With perks like no account fees, it’s a fintech darling for a reason.
3. Discover Online Savings Account
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APY: 4.25%
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Monthly Fees: None
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Minimum Balance: $0
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Why it’s hot: Trusted brand, 24/7 customer service, and no hidden fees make this account a favourite for conservative savers.
4. Ally Bank High-Yield Savings
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APY: 4.20%
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Monthly Fees: $0
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User Experience: Top-notch app, savings buckets
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Why it’s hot: Ally makes it fun to save, literally. The “savings buckets” feature helps users organise goals like travel, emergency funds, or big purchases.
5. CIT Bank Savings Connect
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APY: Up to 4.65%
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Monthly Fees: None
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Min to Open: $100
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Why it’s hot: This one rewards consistency. Pair it with an eChecking account to unlock max interest.
6. Varo Bank
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APY: Up to 5.00% (on balances up to $5,000 with direct deposit and minimum transactions)
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Monthly Fees: $0
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Why it’s hot: One of the few neo-banks offering this high a rate. You’ll need to meet some requirements, but the payoff is worth it.
7. Capital One 360 Performance Savings
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APY: 4.25%
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Monthly Fees: None
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Ease of Use: Strong mobile app
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Why it’s hot: No gimmicks, no fees, and part of a major U.S. bank. Perfect for people who want simple and solid.
8. Marcus by Goldman Sachs
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APY: 4.40%
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Minimum Deposit: $0
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Why it’s hot: Backed by Goldman Sachs, Marcus has earned a reputation for steady rates, good support, and zero fees.
9. LendingClub High-Yield Savings
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APY: 4.65%
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Minimum Balance to Earn APY: $2,500
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Why it’s hot: Great for those with higher balances. Includes mobile tools and FDIC insurance.
10. Upgrade Rewards Checking Plus
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APY: Up to 5.07% on balances up to $1,000
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Why it’s hot: It’s more of a hybrid between checking and rewards, but that APY on daily balances gives it a unique edge.
What to Look for in a High-Interest Account
Not all high-APY accounts are created equal. Here’s what to check before you switch:
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APY: Is the rate promotional or consistent?
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Fees: Hidden fees can eat into your interest.
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Requirements: Direct deposit? Minimum transactions? Be clear on the terms.
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FDIC or NCUA Insurance: Protects your money up to $250,000.
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Accessibility: Can you manage it easily online or on your phone?
How to Maximise Your Earnings
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Set up automatic transfers to ensure you’re consistently saving.
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Avoid withdrawals if there’s a limit (some caps withdrawals to 6 per month).
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Split savings across multiple accounts to benefit from tiered APYs.
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Bundle services (like SoFi or CIT) to unlock better rates or cashback.
The Bottom Line
In 2025, there’s no excuse to let your money sit idle. Whether you’re a student, a small business owner, or planning for retirement, the right high-interest account can help you grow wealth passively and securely. Do a quick comparison, read the fine print, and start earning more from your savings today.