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We got used to earning high interest rates on our deposit accounts, but lately, they've started to slip. How can you be sure that you're still getting the best interest rate to earn money on your savings?

We keep an eye on the interest rates offered by banks and credit unions every day to ensure you can make informed decisions when opening a new account. It seems like this might be the right moment to secure a higher rate before annual percentage yields drop significantly. Below are the leading rates provided by major institutions as of Sunday, April 6.

Featured Nationally Available Savings Rates

Create a new banking or cash management account to take advantage of our top-tier interest rates.

Account Name	The APYs (Annual Percentage Yields) are correct as of April 4, 2025.	Minimum Account Opening Balance
Axos ONE Savings and Checking Package	up to 4.66%*	$0
LendingClub LevelUp Savings Account	up to 4.40%**	$0
Western Alliance Bank Premium High-Yield Saving Account	4.25% APY. Additionally, new clients can receive $250 by entering the code GET250 upon registration.	$1 to start an account. A minimum of $25,000 required to receive the new client incentive.
CIT Bank Platinum Savings	4.10% interest rate (minimum balance requirement: $5,000) along with an introductory bonus of up to $300 when using the code PS2025	$100
Forbright Growth Savings	4.25%	$0
SoFi® Checking and Savings (Member FDIC)	up to 3.80%****	$0

Nationally Offered CD Interest Rates Featured

Account Name	The APYs (Annual Percentage Yields) are correct as of April 4, 2025.	Minimum Account Opening Balance
Always.bank 3 Month CD, powered by Raisin	4.33%	$1
Barclays 6-Month Online Certificate of Deposit	3.80%	$0
LendingClub 10 Month CD	4.45%	$2,500
Synchrony 13 Month CD	4.35%	$0
Discover 18 Month CD	3.80%	$0
Bread Savings 2-Year High-Yield Certificate of Deposit (CD)	4.00%	$1,500
SkyOne Federal Credit Union 3-Year Certificate of Deposit	3.90%	$1

Highlighted High-Interest Checking Account Deals

Compare checking accounts that provide high APYs, rewards on debit card transactions, or both. The listed APYs (Annual Percentage Yields) were current as of April 4, 2025.

BCU PowerPlus Checking: Up to 8.00% APY can be earned on balances of up to $15,000 (Visit the site for more information). *
SoFi® Checking and Savings (Member FDIC): Earn up to a $300 bonus with qualifying direct deposits for eligible customers through 01/31/26. Earn up to 3.80% annual percentage yield (APY) on savings balances (including Vaults) with direct deposit or qualifying deposits.**
Discover® Cashback Debit Account: Earn 1% cash back on up on up to $3,000 per month in eligible debit card purchases (See website for details).***
Axos ONE Savings and Checking Bundle: Earn 4.66% APY on your savings account balance and 0.51% APY on yoaur checking account balance by getting at least $1,500 in monthly direct deposits by the 25th of each month and by maintaining an average daily balance of $1,500.

How Much Interest Can You Earn With High-Yield Savings?

The average interest rate on a savings account is 0.41% APY, so any account that pays more than that may be worth considering. It's not unusual to find high-yield savings, CDs, or even high-yield checking accounts that pay up to eight times as much.

This is how it functions: Suppose your savings account offers an average annual percentage yield (APY) of 0.41%, with daily compounding. If you deposit $1,500 into this account and do not make additional contributions over one year, at the conclusion of that period, you will have accumulated $1,506.16—yielding a total interest earnings of only $6.16.

Let’s imagine that all conditions stay unchanged but for the type of savings account you select. In this scenario, you opt for a high-yield savings account offering an annual percentage yield (APY) of 4%. By the close of the year, your balance would be $1,561.21, which includes $61.21 earned through interest.

Could it qualify as a fortune? Perhaps not. However, it’s still roughly ten times greater than what you’d typically earn from a standard savings account without putting in any additional work. Should you have maintained contributions over the course of the year, this discrepancy would become even more pronounced.

About High-Yield Accounts

High-interest savings accounts are not the sole options offering attractive returns currently. Usually, you will find the best interest rates at digital-only or lesser-known financial institutions as opposed to well-established nationwide banks known for their physical branches. It’s typical because internet-based banks often operate with reduced operational expenses and tend to offer higher rates to draw in more clients.

High-Yield Savings Accounts

The best high-yield savings accounts offer the safety of a savings account along with the additional advantage of a high annual percentage yield (APY). Savings accounts are kept at banks or credit unions rather than being managed via a brokerage account. They work well for setting aside funds aimed at achieving short-term objectives, such as planning a holiday or making a significant buy.

High-Yield Checking Accounts

The best high-yield checking accounts They generally offer somewhat reduced interest rates compared to high-yield savings accounts, yet still stand out in the current interest landscape. Think of a checking account as the central point for managing your finances: When your salary is directly deposited, it’s often into a checking account. Similarly, when you move funds to cover bills, it’s most commonly done via a checking account. These accounts cater primarily to regular expenses and typically include features such as checks and/or debit cards to facilitate this process.

Money Market Accounts

The best money market accounts These accounts can serve as an intermediary option between checking and savings. Primarily designed for saving funds, they also allow convenient access via checks or a debit card. The interest rates generally vary based on your account balance levels.

Cash Management Accounts

A cash management account It functions similarly to a combination of a savings and checking account. These are commonly provided by internet-based financial institutions, and unlike traditional checking accounts, they usually allow unrestricted transactions. Savings accounts frequently restrict the amount of monthly transfers, whereas this feature isn’t limited in checking accounts. Typically, cash management accounts include a debit card for convenient use; however, services such as cash deposits might incur additional fees.

Certificates of Deposit

The best CD rates It could surpass all the previous accounts mentioned earlier. This is due to a certificate of deposit necessitating you to “commit” your funds for a specific period, which can range anywhere from three months to five years. If you choose to withdraw these funds before this duration ends, you will incur a penalty fee (though avoiding this applies if you select certain options). best no-penalty CDs The more time you allow the bank to hold onto your funds, the better interest rate you will earn. Certificates of Deposit (CDs) have fixed rates, which means the initial interest rate you receive remains constant throughout the duration of your chosen term.

About CD Terms

Locking your money into an account in exchange for a higher interest rate can be a big decision. Here's what you need to know about common CD terms.

No-Penalty CDs

Most CDs charge you a fee if you need to withdraw money from your account before the term ends. But with a no-penalty CD, you won't have to pay an early withdrawal penalty. The best no-penalty CDs will offer rates slightly higher than the best high-yield savings accounts, and can offer a substantially improved interest rate over traditional brick-and-mortar savings accounts.

6-Month CDs

The best 6-month CDs are providing interest rates around the 5% mark. Six-month certificates of deposit (CDs) are ideal for individuals seeking higher returns on their savings over a brief period without needing immediate liquidity. This choice works well for beginners in saving or those who do not possess substantial funds. emergency fund for unexpected expenses.

1-Year CDs

The best 1-year CDs often provide some of the highest CD interest rates, making them a preferred choice for numerous investors. A one-year term might be a appealing choice for individuals looking to build their portfolio. CD ladder , or for someone who has a decent financial cushion but is still worried about future costs.

2-Year CDs

The best 2-year CD rates Will be somewhat below the interest rates offered for 1-year certificates of deposit without penalties. As compensation for locking up funds for an extended duration, investors get a guaranteed rate over the long term. They work well when included in a certificate of deposit ladder plan or for individuals concerned about potential decreases in interest rates in the near future.

3-Year CDs

The best 3-year CDs Often, these rates match those of 2-year certificates of deposit. They generally appeal less to typical investors; however, they serve as a crucial tool when broadening investment choices and safeguarding against potential declines in interest rates over time.

5-Year CDs

The best 5-year CDs Will provide more competitive rates compared to the other terms mentioned, yet they remain favored choices among investors. These certificates of deposit (CDs) are ideal for individuals aiming to secure higher interest rates over an extended period. Typically regarded as low-risk investments, obtaining a beneficial rate allows you to accumulate substantial returns by the third year and further down the line—especially when rates decrease in other areas.

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