If your money is sitting in a traditional savings account earning 0.5% or less, you are leaving hundreds — possibly thousands — of dollars on the table every year. The Federal Reserve’s aggressive rate hikes have created a rare window where online banks are competing fiercely for your deposits.

We spent three weeks analyzing 40+ savings accounts — looking at APY, fee structures, minimum balance requirements, mobile app quality, and customer service records — to bring you this definitive list.

Every account on this list is FDIC-insured, has no hidden monthly fees, and is available to any US resident. Whether you’re building an emergency fund or parking cash between investments, these are the best options available right now.

The 7 Best High-Yield Savings Accounts of 2025

Head-to-Head Comparison Table

Bank	APY	Min. Balance	Monthly Fee	FDIC
Marcus (Goldman Sachs)	5.50%	$0	$0	Yes
Ally Bank	5.30%	$0	$0	Yes
SoFi	5.25%	$0	$0	Yes
American Express	5.05%	$0	$0	Yes
Discover	5.00%	$0	$0	Yes
Chase (traditional)	0.01%	$300	$5	Yes
Bank of America	0.04%	$100	$8	Yes

Online Banks vs. Traditional Banks

How to Choose the Right Account

Not every high-yield savings account suits every person. Before opening an account, consider how often you’ll need to access your money. Some banks limit withdrawals or charge fees after a certain number of monthly transactions.

If you already have a checking account at a major bank, look for savings accounts at the same institution — even if the rate is slightly lower, the convenience of instant internal transfers may be worth the tradeoff. For maximum earnings, however, moving your emergency fund to a dedicated online high-yield account is almost always the right move.

Also pay close attention to whether the advertised rate is promotional. Some banks offer boosted rates for the first 3–6 months, then drop to a standard rate. The accounts on our list all have consistent, non-promotional rates — what you see is what you get long-term.