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Which high yielding savings account to go with?

reddit.com › r › personalfinance › comments › 1m8pihe › which_high_yielding_savings_account_to_go_with

Any of them that are 3.5 % interest or better (For now), have zero fees ever at any time, and are FDIC insured. Ally has been good to me, but there's plenty of good options. Answer from Ok_Shame_5382 on reddit.com

reddit.com › r/personalfinance › best banks for high-yield savings accounts

r/personalfinance on Reddit: Best Banks for High-Yield Savings Accounts

November 18, 2025 -

Hi! I currently have a checking account with Chase but I want to open a savings account with a high-yield which Chase doesn't offer. Amex looks like a good option but I'm not fully sure if it's the best route for it. What are thoughts on AMEX and if not is there other better options? Also if I go with a different bank than mine would I be able to transfer money from that savings back to my checking? Thank you!

Yes transfers should be easy. My HYSA is at Ally.

Sofi has been a game changer for me. The savings accounts has vaults, which allow me to specify savings goals for things like travel and taxes. Their relay app is also similar to mint.com and helpful for budgetting. You can easily do transfers through plaid. You do need a direct deposit over a certain amount (at least you did) to get their high yield amount, which is 3.6%. There are also no physical locations, although you can use allpoint atms for withdrawals. I don't carry cash, so this has not been an issue for me. (Edit Spelling and Grammar)

reddit.com › r/personalfinance › which high yielding savings account to go with?

r/personalfinance on Reddit: Which high yielding savings account to go with?

July 25, 2025 -

The person at my bank told me to go with Marcus Goldman Sachs. Would you recommend that also or a different one?

Any of them that are 3.5 % interest or better (For now), have zero fees ever at any time, and are FDIC insured. Ally has been good to me, but there's plenty of good options.

Ally Bank. Get the Savings and Checking. You can instantly move money from Savings to Checking when you need to pay bills.

reddit.com › r/personalfinance › best high-yield savings account for 2026?

r/personalfinance on Reddit: Best High-Yield Savings Account for 2026?

1 month ago -

Never posted in this subreddit before, but I have a chunk of money coming soon and would like to know what to do with it. It will be between $3,000-5,000 coming in the first quarter of 2026. I would like to keep it in a high-yield savings account for the time being, what would you all recommend?

The higher the APY, the better. I don’t want to have any requirements for direct deposit or monthly deposit amount - I want to be able to add however much I want, whenever I want. Looking for an app that is easy to use and simple to monitor and manage. A deposit bonus would be nice, but not necessary.

I also plan on adding my 2025 tax refund whenever I receive it, as well as whatever income I have leftover after all my other expenses and savings each month (usually around $200-500, sometimes more or less).

I already have accounts with CapitalOne, Chase, Citi, and Synchrony, if any of those offer good high-yield savings accounts.

Nerd Wallet is a great place to search for this kind of answer. https://www.nerdwallet.com/banking/best/high-yield-online-savings-accounts

Capital One has their own HYSA. Otherwise, Discover, Amex, Marcus by GS, Ally. I personally use Fidelity CMA- set core funds to SPAXX to act as a HYSA. Also comes with a debit card with unlimited ATM fees reimbursement.

reddit.com › r/themoneyguy › what is the best high yield savings account right now?

r/TheMoneyGuy on Reddit: what is the best high yield savings account right now?

December 7, 2025 -

i’ve been thinking about moving some of my savings into a high yield savings account lately. i’ve always stuck with a regular savings account but with rates so low i feel like my money is just sitting there not doing much. this would be my first time trying a HYSA so i’m a bit cautious.

for those who’ve used high yield savings accounts before what was your experience like when you first switched? did you notice a real difference in interest compared to a standard account or did it barely feel worth the change? what kind of things should i watch out for before opening one like minimum balance, fees, withdrawal limits, online vs physical bank?

also does it matter if the bank is online only or has branches especially for people who might need cash withdrawals sometimes? and is HYSA better suited for emergency funds or short term savings rather than long term investing?

i’d really appreciate honest stories especially if you started small like i am thanks 🙏

As long as you add the institution to your bank and reciprocally, you can get money quickly. Branch vs online really doesn’t matter. I have Citi for one HYSA. There are limits on transferring out, so you might need to wait. I also have money with Raisin, which has many FDIC banks in its network. I am currently getting 4.1%, but rates fluctuate between banks. Most of mine is with Fidelity, which I use for investing and for spending. Moving money is fast. Long term is held in SGOV (3.9%, which I can get within a day. If I wanted more liquid, I’d use FDLXX (3.56%). Don’t get too hung up on picking the best rate…getting into something more than what you currently have is the best move. A 0.4% difference is $40 on $10,000…not worth chasing the yield.

I’ve been using capital one for years if not decades. It maxed around 4.5% a year or so ago and has been steadily going down to 3.4% as of today. I’ve never been to a branch and don’t even know if they have branches to be honest. Everything is online. I have all of my savings in capital one and I keep a checking account for bills at Chase. If I ever need access to the money, it’s a simple electronic transfer to my checking that takes a couple days to land. I use cards for everything so I’ve never been in a position where I needed a large sum of cash on hand. If you get their performance savings account, there are no annual fees but there may be a minimum balance you have to keep in the account for that I cant recall at the moment. I’ve never been charged a fee. I would gladly recommend this savings account for your emergency fund. It worked very well for me and I’ve earned a ton of interest over the years. I wouldnt go as far to say I made more in interest than I would have in the market, but hey, almost zero chance of losing any of my money like there would be in the market so I’ll gladly take that. I have investments aside from this account anyway.

reddit.com › r/personalfinance › what are the best, high-yielding savings platforms an 18-year-old could easily get into?

r/personalfinance on Reddit: What are the best, high-yielding savings platforms an 18-year-old could easily get into?

March 15, 2025 -

Hello, r/personalfinance. I’ll just cut to the chase. I just turned 18 a few months ago, and want to open a savings account that I can deposit $200-$300 from my paycheck into every month, which I could easily afford to do, as I have no real expenses right now.

All of the local banks offers >1% interest, while larger, national banks and online banks claim to offer more, but usually with a catch, like I need a $10,000 for an initial deposit, and stuff like that.

My question is simple. What is the best bank to open a savings account with for someone in my position? I don’t need the highest interest in the country. I just want something with a somewhat/relatively high interest rate, and little to no catch. That’s it. Thank you in advance for any and all help.

Open up a fidelity cash management account (CMA). Once you open it, you can set your sweep/core position to one of two money market fund options: SPAXX FDLXX SPAXX has a slightly higher 7-day yield at 3.98%, whereas FDLXX has a 7-day yield of 3.90%. The difference between the two is that FDLXX is a treasury-only money market fund whereas SPAXX contains non-treasury indices too. The consequence of this is that if you live in a state which has state income tax (e.g. California, Michigan, Massachusetts, and others), then any interest you earn will be taxed by the state, if the interest is earned from non-treasury sources. So, if you live in a state which has state income taxes, then FDLXX might be the better choice to set your core position to, since FDLXX consists entirely of treasury indices. This means that the interest you earn will be state-tax exempt. So even though SPAXX has a higher yield, part of that yield will be subject to state income taxes, hence making the EFFECTIVE yield lower than the yield of FDLXX. However, if you live in a state without state income tax, then the above analysis doesn't hold and so you should go with SPAXX, since it has a higher yield. Note that the interest you earn from other banks like Marcus, Ally, American Express, etc will also be subject to state income taxes (if you live in a state which has that), so this is why I prefer Fidelity's FDLXX money market fund over the more widely-used HYSAs from various banks. With FDLXX, not only are you getting really good interest rates, but you're also saving money in income taxes (again, assuming that you live in a state with state income tax). You don't have to have a minimum deposit amount for the CMA, and they won't charge you monthly fees. It's free to open and free to maintain.

There are a number of ways to get a higher yield savings account through a number of different savings institutions. For example, NerdWallet published an updated list every month: https://www.nerdwallet.com/best/banking/high-yield-online-savings-accounts And that's just one financially oriented site doing this. There are others. Do a search for "best HYSA accounts" and you're sure to find other lists so that you can build a list of financial firms to start with. Be sure to read available details because some accounts are truly no minimum while others have minimum AND account restrictions (i.e. Axos requires you to have their checking, have a balance, AND have direct deposit to an Axos checking account). Once you have the list of firms, go to each site and look at what the signup process is. I would also pick a relevant question and try to find the answer on their site (i.e. how do I transfer money to another account?). To me, the ease or difficulty in finding answers when I need them is a clue to how easy or difficult they might be to work with when there's an issue. This also gives you some clues to how easy or difficult their website is to use. Good luck!

reddit.com › r/personalfinance › best banks for high yield saving accounts

r/personalfinance on Reddit: Best banks for high yield saving accounts

October 14, 2025 -

Hey all,

I'm looking for a bank that offers a savings account with minimal requirements and a competitive interest rate. What banks offer the best savings account interest yields that also don't come with a lot of catches and conditions?

I am not very financially savvy, so any guidance will be greatly appreciated.

Thanks in advance.

DoC is always a good go-to in this subreddit: https://www.doctorofcredit.com/high-interest-savings-to-get/

I really like Marcus by Goldman Sachs and have been there many years. I like how you can create as many “accounts” as you like, label them however you wish, and easily move money from one to the other. CD and no penalty CD rates currently over 4%. Standard rate at 3.65%. And they have the best app/bank interface I have ever used.

reddit.com › r/banking › looking for a hysa with good returns, do you have any suggestions?

r/Banking on Reddit: Looking for a HYSA with good returns, do you have any suggestions?

July 7, 2024 -

I am looking to open a HYSA. I was looking into NFCU, my current bank, and they do not offer one.

Do you have any suggestions for a competitive HYSA for me?

Some of the most commonly recommended high-yield savings accounts on this subreddit include those offered by Ally, SoFi, Capital One, Discover, and Marcus by Goldman Sachs. Go with a trustworthy option that's currently offering a good rate, and don't be afraid to switch should significantly better rates be available.

How much money do you have for the opening balance? If it's 100K+, then put $100k into Cap One, and do the $1,500 account opening bonus. Your rate of return will be 10.25% over the first 90 days. If you only have $15,000, do the Chase $900 Checking/Savings account opening bonus. That's 24% over the first 90 days. If you have $115K+ then do the Chase and the Cap one offers concurrently. If you can split your direct deposit, don't forget to tack on the Cap One $250 checking offer, but FYI some existing customers are getting invite only $300 checking offers so you might want to open the savings and wait a bit to see if you can get the $300 checking offer.

reddit.com › r/themoneyguy › what is your favorite high yield savings account (hysa)? 💰

r/TheMoneyGuy on Reddit: What is your favorite High Yield Savings Account (HYSA)? 💰

September 25, 2025 -

Admittedly, this is a funny question coming from someone on The Money Guy Show. 😂 But here's why I'm asking: while we certainly have accounts we like and use and share, I'm always curious to stay up-to-date on new options and peoples' real-life experiences.

What are you using?
Which ones are considered "the best" by the Money Guy family, and why?
Have you had exceptionally great or truly terrible experiences with certain banks?
How are we feeling about some of hot picks in the personal finance space, like Sofi?

If you're willing to share, I'd love to discuss it! I know this crew will tell it to me straight and have good insights. ☺️

I use Ally mostly because of the bucket feature

While it’s not technically a HYSA, I buy indexed short term t bills (SGOV) through my brokerage account. It’s typically a little higher yield than a HYSA, and I get state tax exemptions for it! It’s still sufficiently liquid as it’s 1-2 days for settled funds and instant transfer out into my checking.

reddit.com › r/banking › what’s the best “savings” account method?

r/Banking on Reddit: What’s the best “savings” account method?

June 3, 2025 -

After doing some research on where to open a HYSA, wealthfront is my #1 pick. However, I have chosen fidelity to manage my roth IRA, and I would love to keep my money in one place so I’m also considering SPAXX. What’s the best option? I would use this money as my emergency fund, or ready to move for anything else.

Avoid Wealthfront (it's not a bank). Fidelity with SPAAX is a smart choice for simplicity,

I use a monkey market fund through fidelity.

Find elsewhere

Google Bing Mojeek

reddit.com › r/personalfinance › what savings account do you guys recommend?

r/personalfinance on Reddit: What savings account do you guys recommend?

March 5, 2022 -

Im looking to open a savings account that can earn me interest I guess they’re called high yield saving accounts? Starting to invest money here and there stocks, crypto, but I want to start with a savings account also. Any help would be greatly appreciated!!

If you're looking for an online savings account, Marcus, Ally, Alliant, and Discover are good choices. Alliant has a $100 bonus offer. The wiki has a good article about savings accounts .

No savings account pays worthwhile interest anymore, but they’re still fine for keeping 3-6 months of expenses in as an emergency fund. I’d be inclined to go with a local credit union, but Amex, Marcus, Discover, etc. are all fine also.

reddit.com › r/investing › best place to open a new savings account?

r/investing on Reddit: Best place to open a new savings account?

July 2, 2025 -

I am 18 and currently living with my parents, i start my first job soon and i’m looking to save as much money as i can. I bank with primeway, however my savings account looks rather basic with a low dividend rate and no info on an APY. I’m looking to save money to purchase a car in say a years time. I’m wondering where/who offers the best overall savings account. I’m thinking about opening one with CapitalOne as they offer no fees, no minimum balance, and a fairly good APY.

I’d open a fidelity account. They offer excellent savings rates. You can invest in stocks or cds if you want. They are national with branches in most major cities. That. AND a local credit union. A lot of them offer education and non-predatory helpful services like credit cards, auto loans, sometimes even insurance . It’s like a bank that isn’t trying to steal your money.

reddit.com › r/personalfinance › which hysa is the best for having instant, unrestricted access to your money?

r/personalfinance on Reddit: Which HYSA is the best for having instant, unrestricted access to your money?

December 2, 2025 -

I'm trying to find one for my mom and her biggest fear is that she won't be able to take out the cash if she needs to be for an emergency...

For true instant access, open the HYSA and checking at the same bank (e.g., Ally, Discover). Transfers between them are instant. Pair with a credit card for emergencies, then move funds to pay it off.

I think you have a misunderstanding of what a HYSA is. It’s a normal savings account, where you always have instant access to your money, but with a higher interest rate.

reddit.com › r/banking › what is the best high yield savings available?

r/Banking on Reddit: What is the best high yield savings available?

December 1, 2024 -

I want to open my first HYSA but don’t know where to start or where to go to. I did a few google searches and found Open Bank offering the highest rate of 4.75% but after some digging & reading reviews I found the company has issues & best be avoided. What HYSA would you recommend that’s good and offers a high rate?

Be wary of fintechs offering high rates. Fintechs are not banks.

Search “HYSA” on this sub. This question is asked frequently

reddit.com › r/banking › what is the best high yield savings account for beginners?

r/Banking on Reddit: What is the best high yield savings account for beginners?

February 3, 2025 -

Hi,

I (22) have a couple thousand dollars in my savings account currently. It is only making 0.003% interest and I am considering options for what next steps to take in my finances. I've looked into different savings account, and a HYSA seems pretty straightforward and easy for a beginner.

I guess my questions are 1. Is a HYSA best for someone who only has a few thousand dollars to start making interest on it? and 2. If so, what is the best one for beginners?

Thank you:)

Wealthfront has a cash account with 4.00% HYSA and if you use the referral code you get an extra .50%. Total of 4.50%. I have been using them for over 5 years now. I use their Cash account, Traditional IRA, Roth IRA and their Direct Investing account. They have a very user friendly mobile app and online is great too. I've never had any problems. DM me if you want the referral code.

CIT.com platinum savings if you have $5K+ or Connect if you have less. Excellent for beginners.

reddit.com › r/personalfinance › hysa reccomendations

r/personalfinance on Reddit: HYSA reccomendations

3 weeks ago -

Question for all the finance experts out there….my wife and I have about $70k sitting in our traditional savings account with Chase. We are looking into putting a large percentage of it into a HYSA account. Looking for recommendations for HYSA accounts and how much we should put in?

I use Ally. It was recommended to me by my fiduciary. No complaints. The customer service is 24/7, I’ve never waited more than 2 minutes on the phone, and they’re always super nice. How much you should keep in your HYSA kind of depends on what your goals are for the money. HYSA are for short term goals, kind of up to 5yrs (like saving for a house) and emergency funds. It doesn’t hurt anything to put it all in there while you’re figuring it out though.

Assuming that 70k is your emergency fund. Interest rates are going to continue falling for the foreseeable future. At a certain point chasing optimal HYSA yields is pinching pennies. The best you're going to get are promotional rates for a short term and then the same as everyone else. As an emergency fund you want a stable institution that offers a reasonable APR. Marcus is good. I've had good luck with Capital One. Neither one offers the absolute best rates but they are stable and competitive. And safe. Which is what you want in an emergency. HYSA typically has no issues with liquidity so might as well put all of it in, save like 3-5k in checking to handle monthly auto bill pay. Once your emergency fund is set you can look at increasing your retirement contributions, like 401k/IRA/HSA. You don't really want your HYSA to grow much larger than what you need for emergencies.

reddit.com › r/personalfinance › do you have any recommendations for a high-yield savings account?

r/personalfinance on Reddit: Do you have any recommendations for a high-yield savings account?

September 27, 2025 -

title basically accessible, the idea of putting my money into an account that’s only online is kind of nerve-racking to me so I’m just trying to do all my research research before.

What makes you nervous about it?

Banks and CUs: https://www.doctorofcredit.com/high-interest-savings-to-get/amp/ https://www.reddit.com/r/personalfinance/wiki/banks_and_credit_unions

reddit.com › r/financialplanning › what savings account should i open for 80% of paycheck?

r/FinancialPlanning on Reddit: What savings account should I open for 80% of paycheck?

December 18, 2024 -

I’m 23, currently working my first job post-grad and still live at home, which allows me the fortunate position of not having any bills or expenses to worry about. My biweekly take-home pay is around $1,450, and I feel I’m in a place where I can comfortably save 80% of each paycheck.

I don't necessarily have a specific savings goal in mind right now; I simply want to save as much as I can while I have the opportunity.

I’ve only ever had a checking account, but want to open a savings account. What type of savings account should I open? Just a regular savings account? HYSA? Something else?

Ideally, I’d like to be able to transfer money from my savings to checking account as needed. I’m hesitant to lock away such a large portion of my paycheck in an account with limited access, just in case I’d need it.

Congrats on having a great mindset. Parking your cash in a bank offering a 3%-5% rate (usually in a HYSA or high-yield money market account) is probably your best bet. In addition to banks named by other commenters, also consider your local credit union. If anything goes sideways or you have questions, it is nice to have someone in your area to help explain things. My credit union offers video calls, virtual check cashing, and lots of great educational tools for its members. Currently my credit union pays 4%, and I could get another 0.5% with another bank but it isn't worth the trouble. HYSA rates can change monthly, so if you have one giving you 5% today it might be 4.7% next month. Consider opening a Roth IRA and funding it event at a small scale. Money put into a Roth IRA in your 20s will be worth 16x more in your 60s. If you wait til your 40s to open a Roth IRA, it will only grow 4x. Don't quote me on specifics but you get the general idea. Time is your friend right now.

Personally, I use a fidelity money market due to how much I invest often. Pays above 4-4.5% right now. The other cash lives in a small checking account. I use the money market as the real savings account. Will not be the same per person but that’s my take

reddit.com › r/banking › best high yield savings account?

r/Banking on Reddit: Best High Yield Savings Account?

September 24, 2024 -

I know there's plenty of posts, but just wanted to hear from personal experiences. I currently have CIT, but their interest rate keeps lowering and lowering. I've heard some HYSA only do wires which would cost me every paycheck as I transfer so just wanted to see what people use and have no issues with.

Thanks!

All HYSA rates are going down because of Fed cut so even if you find one that may have higher rate, it’s not guaranteed to stay at that rate. Discover currently offers 4% APY HYSA. I can transfer between Discover and my other banks via ETF. I have no issues and they have the best customer service in my experience. I plan to keep my emergency fund with Discover.

Whatever you do, do not use OpenBank. Their 5.25 APY is appealing, but if you're on Android their mobile app is useless, and they REQUIRE you to authenticate using only the app on one trusted device. No 2FA through any other means. If you lose access to the app you are hosed. Mine kicked me out and I'm working with their customer service on closing my account.

reddit.com › r/studentloans › high yield savings account recommendations to park my funds during this forbearance for 2025

r/StudentLoans on Reddit: High yield savings account recommendations to park my funds during this forbearance for 2025

January 16, 2025 -

Hey guys,

My loan is under SAVE and still on a forbearance pause like many of you. I wish to start sending money to a HYS to collect interest until payments resume. Which HYS do you recommend that have an interest rate of 4% or higher? I know there are old posts, but need updated recs since interest rates were recently slashed.

I do CapitalOne and current is 3.8%. App is easy to use and it has a lot of other perks as well

I use Wealthfront, which is currently 4.1%

reddit.com › r/savingmoney › best high yield savings account 2025

r/SavingMoney on Reddit: Best high yield savings account 2025

June 2, 2025 -

I am trying to find an online savings account. I have had Capital One for a while but I feel they aren't doing what they are supposed to, so I would love some suggestions. I don't know a lot about these things, so figured I would ask around and see some people suggest that seem to really do what they say.

I personally like Ally Bank. Straight forward and they have a nice feature where you can create different “envelopes” or baskets if you’re looking to save for different things

A lot of people will focus on the APY, which is good to keep in mind as a primary factor when looking - but also consider that rates will fluctuate and there will always be multiple options with competitive rates. Because of that, I’d ask if you have any other needs or expectations from a HYSA other than high APY and people can give apt recommendations. Personally, I love Wealthfront