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Best High-Yield Savings Account by APY

If you’re looking for a high-yield savings account with a high APY, you have multiple options to choose from

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Economic conditions have been challenging recently. Inflation high, capital market uneven and some Bank The Federal Reserve is also on the rise interest rate.

While these rates make buying a home and refinancing your mortgage more expensive, they also come with a silver lining: High savings rate.

Are you looking to take advantage of these higher rates to accumulate more cash? In this article, we will break down some of the best High Yield Savings Account by APY. If you think you could benefit from opening a high-yield savings account, start exploring your options here to see how much more you can earn.

Best High-Yield Savings Account by APY

Ready to start making more money? Here are six of the current best high-yield savings accounts, broken down by interest account holders by APY, minimum opening deposit, account fees and any additional notable highlights.

UFB Direct

UFB offers Direct Highest yield savings account We can find with a 5.02% annual percentage yield. Digital Bank charges no maintenance fees and requires no minimum balance

UFB Direct is FDIC insured through Axos Bank, and there is an option to increase your insurance coverage for accounts above $250,000. The bank also offers money market accounts (also with 5.02% APY).

API: 5.02%Minimum Opening Deposit: $0Fees: There are no maintenance or service feesHighlights: FDIC-insured, comes with ATM card and check-writing facilities, account management via SMS messaging and mobile deposits.

Bread storage

bread savings’ High yield account Offers the second highest APY we’ve found, at 4.50%. The bank is FDIC-insured, and there is only a $100 minimum opening deposit required

Banks also offer Certificate of Deposit (CD) For a period of one to five years. APYs on these range from 4.16% to 5.10%.

API: 4.50%Minimum Opening Deposit: $100Fees: $15 fee per check, $25 per outgoing wire transfer, $5 per paper statementHighlights: FDIC insured, no maintenance fees, low minimum deposit

Basque Bank

Basque Bank High Yield Savings Account Comes in a hair less than bread with a 4.45% APY. There are no minimum balance requirements or monthly service fees.

If you’re a big traveler, the bank also offers a Mileage Savings Account, which lets you collect American Airlines miles for every $1 you save.

API: 4.45%Minimum Opening Deposit: $0Fees: There is no monthly feeHighlights: FDIC-insured, no monthly fees, no minimum deposit

You can now easily explore your Basque Bank options.

Popular Direct

Popular Direct’s High Rise Savings Account offers the same APY as Basque Bank, only it requires a minimum deposit of at least $5,000. The bank provides services through fully digital, web and mobile apps.

Popular Direct offers CDs with one-, three- and five-year terms. APYs on these range from 4.50% to 5.10%

API: 4.45%Minimum Opening Deposit: $5,000fee: $5 withdrawal fee per month for six months, $10 overdraftHighlights: FDIC-insured, mobile check deposits and transfers


LendingClub’s high-yield savings account comes with a 4.25% APY and only requires a $100 minimum deposit. Unlike many others on this list, it also offers a free ATM card to access your funds more easily.

LendingClub also offers banking and investment services, personal loanBusiness loans, car refinancing and more.

API: 4.25%Minimum Opening Deposit: $100Fees: There is no monthly feeHighlights: Free ATM Card, Mobile Check Deposit, Free and Unlimited External Transfers


Citizens’ APY is right on par with LendingClub, coming in at 4.25%. The bank does not charge any fees and you can open an account online in just a few minutes

Banks offer mortgages, student loans, and CDs. Citizens’ one-year CD comes with a 4.75% APY.

API: 4.25%Minimum Opening Deposit: $5,000Fees: There is no feeHighlights: FDIC-insured, mobile deposit

Explore all your high-yield savings account options online now and find the one with the best APY!

Shop for your savings account

These are good places to start if you want to increase your savings, but be sure to shop around. High Yield Savings Account Interest rates are always changing, and there’s a chance your local bank or credit union may offer a similar or better offer near you.

You can also explore CDs or other products where interest rates are rising. If this is something you’re considering, talk to an investment professional or financial advisor for help. You can use the table below to start researching your options now

MoneyWatch: Managing Your Money

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