The Highest Savings Account Rates Today: July 25, 2022

A high-yield savings account is a great tool for earning more interest on your money. A high-yield savings account pays significantly more than traditional savings account, and many accounts have zero monthly services fees.

Our best savings accounts guide and best high-yield savings account guide can be great starting points in your research, as they often include helpful features other than just high rates for customers. But if you prioritize finding the highest rates above all else, then this list is for you.

What are the interest rates for savings accounts today?

The FDIC keeps tabs on national rates for interest-earning bank accounts. The average interest rate earned by a savings account right now is 0.10% APY.

We’ve been checking over a dozen financial institutions to keep up with their new rate offerings. Our list includes accounts with much higher interest rates than the national average since online institutions tend to offer high-yield bank accounts.

The most competitive high-yield savings accounts pay 1.65% APY or more right now. Keep in mind interest-bearing accounts may change. Savings accounts have a variable interest rate, which means that the rate may fluctuate at any time.

The Federal Reserve has recently increased the federal funds rate for the third time this year, so savings interest rates are also expected to increase steadily throughout 2022.

Best savings account interest rates

Annual Percentage Yield (APY)

2.02% APY

Minimum Deposit Amount


Annual Percentage Yield (APY)

2.02% APY

Minimum Deposit Amount



  • High interest rate
  • No minimum opening deposit
  • No monthly service fees

more information

  • Interest compounded daily and deposited monthly
  • FDIC insured through Texas Capital Bank

The Bask Bank Interest Savings Account pays the highest interest rate on our list. It doesn’t require a minimum opening deposit and pays 2.02% APY right now.

You might consider the Quontic High Yield Savings Account if you’re looking to open a variety of bank accounts. Quontic has many options, including rewards checking accounts, CDs, and money market accounts.

UFB High Yield Savings and the BrioDirect High-Yield Savings Account also earn a competitive interest rate that’s higher than what many traditional and high-yield savings accounts pay right now.

UFB High Yield Savings could be worthwhile if you’d like easy access to your account — the savings account comes with an ATM card. The BrioDirect High-Yield Savings Account may be appealing if you are able to keep at least $25 in your account daily.

The Bread Savings High-Yield Savings Account is another great high-yield savings account. It could be a good choice if you have at least $100 to get started.

If you haven’t heard of Bread Savings, you might be familiar with Comenity Direct. Comenity Direct has recently been rebranded because its parent company, Bread Financial, has expanded to include lending options.

Meanwhile, CIT Bank might be suitable for you if you plan to open a savings and checking account. The CIT Bank Savings Connect Account requires a minimum opening deposit of $100. You’ll also need to open a CIT Bank checking account to qualify for this savings account.

The Bask Bank Interest Savings Account is also a strong high-yield savings account. It doesn’t require a minimum opening deposit and pays 1.61% APY right now.

CIBC Bank USA is the US division of the Toronto-based bank Canadian Imperial Bank of Commerce, and also lets you open checking and money market accounts if you live in Illinois, Michigan, Missouri, and Wisconsin. You may like the CIBC Agility Account if you have at least $1,000 for a minimum opening deposit.

The Synchrony High-Yield Savings Account doesn’t have a minimum opening deposit. It also includes an ATM card so you can withdraw money from an ATM instead of transferring funds to a checking account.

The Citizens Online Access Savings Account is a good high-yield savings account overall, as long as you have at least $5,000 to open the account.

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