Best US Banks For High-Yield Savings Accounts 2025

Are you looking to save money? High-yield savings accounts can help. They offer higher interest rates than regular savings accounts. This means your money grows faster. In 2025, many banks offer great options. Let’s explore the best banks for high-yield savings accounts.

What is a High-Yield Savings Account?

A high-yield savings account is a type of savings account. It pays a higher interest rate. This helps your savings grow more. Unlike regular savings accounts, high-yield accounts often have fewer fees. They are perfect for people who want to save money.

Why Choose a High-Yield Savings Account?

• Higher interest rates help your money grow.
• They usually have low fees.
• You can access your money easily.
• They are safe places to keep your cash.

Top Banks for High-Yield Savings Accounts in 2025

1. Axos Bank

Axos Bank offers a high APY of 4.66%. This is one of the best rates in the market. They compound interest daily. This means your money earns interest every day. Axos Bank is online-only, which helps keep costs low.

2. Betterment

Betterment offers an APY of 4.50%. They compound interest monthly. This bank is also online-only. They focus on helping people save and invest wisely. Betterment is a great choice for young savers.

3. Presidential Bank

Presidential Bank offers an APY of 4.50%. They also compound interest monthly. This bank is known for its friendly service. You can open an account easily online or in person.

4. Mybankingdirect.com

MyBankingDirect.com offers a competitive APY of 4.40%. They use manual compounding. This means you may need to check your account for updates. It is a good option for those who want to save online.

5. Sofi

SoFi is another good option. They offer a high APY, helping your money grow. SoFi has no fees. They also have a user-friendly app. This makes saving easy and fun.

6. Synchrony Bank

Synchrony Bank provides a great APY. Their rates are competitive. They have no monthly fees. Synchrony Bank is known for excellent customer service. This bank is a reliable choice for savers.

7. American Express National Bank

American Express offers a good APY. They are trusted and well-known. Their online platform is easy to use. You can manage your account quickly. This bank is great for those who want convenience.

How to Choose the Right Bank

Choosing the right bank is important. Here are some tips:

• Compare interest rates.
• Check for fees.
• Look for easy access to your money.
• Read customer reviews.

Understanding Annual Percentage Yield (APY)

APY stands for Annual Percentage Yield. It shows how much money you can earn in a year. A higher APY means more money earned. Always check the APY before opening an account.

Compounding Interest Explained

Compounding interest is when you earn interest on your interest. This helps your savings grow faster. Some banks compound daily, while others do it monthly. Daily compounding is better for your savings.

Things to Consider Before Opening an Account

• Minimum deposit requirements: Some banks require a minimum amount to start.
• Withdrawal limits: Check how many times you can take money out.
• Online banking features: Look for easy-to-use apps.

Benefits of Online Banks

Online banks often have lower fees. They can offer higher APYs too. Here are some benefits:

• Convenience: Access your account anytime.
• Lower fees: Many online banks have no monthly fees.
• Higher rates: They often pay more interest.

Frequently Asked Questions

What Are The Best High-yield Savings Accounts In 2025?

The best high-yield savings accounts in 2025 include Axos Bank at 4. 66% APY, Betterment at 4. 50% APY, and Presidential Bank also at 4. 50% APY. MyBankingDirect. com offers 4. 40% APY. Always compare rates and terms before opening an account for optimal savings.

Which Bank Gives 7% Interest On Savings Accounts?

As of now, no major banks in the U. S. consistently offer 7% interest on savings accounts. However, some online banks and credit unions provide competitive rates, often around 4-5%. Always compare rates and terms before choosing a bank for your savings.

What Us Bank Has The Highest Yield Savings Account?

As of now, Axos Bank offers the highest yield savings account with an APY of 4. 66%. Other competitive options include Betterment and Presidential Bank, both at 4. 50% APY. Always compare terms and conditions before opening an account for the best savings strategy.

Where Can I Get 7% Interest On Savings?

To find a 7% interest rate on savings, explore online banks, credit unions, and high-yield savings accounts. Some institutions offer competitive rates for regular deposits. Always review account terms to ensure you meet requirements for higher interest rates. Research and compare rates frequently for the best options.

What Are High-yield Savings Accounts?

High-yield savings accounts offer higher interest rates than regular savings accounts. They help your money grow faster.

Conclusion

High-yield savings accounts can be a smart choice. They help your money grow faster. In 2025, banks like Axos, Betterment, and Presidential Bank offer great rates. Always compare banks before making a choice. Look for the best APY, low fees, and good service. Start saving today. Your future self will thank you.