Highest savings account rates today: September 19, 2022

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If you’re looking for a place to save money for short-term goals, a high-yield savings account might be a good choice.

Our guide to the best savings accounts and our guide to the best high-yield savings accounts can be great starting points in your search if you’re looking for bank accounts with unique benefits or features. But if you prioritize finding the highest rates, this list is for you.

Compare savings account rates

What are savings account interest rates today?

The FDIC keeps tabs on national rates for interest-bearing bank accounts. The average interest rate paid by a savings account is currently 0.17% APY.

We checked over a dozen financial institutions to track their new rate offers. Our list includes accounts with much higher interest rates than the national average, as online institutions tend to offer high-yield bank accounts.

The most competitive high-yield savings accounts currently pay out up to 2.61% APY. Keep in mind that interest rates may change. Savings accounts have variable interest rates, which means rates can fluctuate at any time.

The Federal Reserve has raised the federal funds rate several times this year, so interest rates on savings are also expected to rise steadily throughout 2022.

Highest Savings Account Rates: September 19, 2022

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Editor’s Note

4/5

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Open and keep at least $25 in your account

Editor’s Note

4.25/5

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4/5

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Open an account with at least $100

Editor’s Note

4.25/5

A five pointed star

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Open an account with at least $100

Editor’s Note

4.25/5

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Open an account with at least $1,000

Editor’s Note

3.75/5

A five pointed star

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Open an account with at least $100

Editor’s Note

4.25/5

A five pointed star

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Open an account with at least $5,000

Editor’s note

4/5

A five pointed star

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A five pointed star

Open an account with at least $100

Editor’s Note

4.25/5

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A five pointed star

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Editor’s Note

5/5

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Editor’s Note

4.5/5

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The best savings account interest rates

Annual Percentage Yield (APY)

up to 2.61% APY

Minimum deposit amount

$0

UFB Direct UFB Rewards Savings

Annual Percentage Yield (APY)

up to 2.61% APY

Minimum deposit amount

$0

Annual Percentage Yield (APY)

up to 2.61% APY

Minimum deposit amount

$0

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UFB Rewards Savings offers the highest interest rate on our list. UFB Rewards Savings could be useful if you want easy access to your account – the savings account comes with an ATM card.

Bask Bank might be a good choice if you want to open an account with $0. However, keep in mind that online-only banking only offers two types of savings accounts. If you’re looking for a checking account or a CD, you’ll want to consider other financial institutions.

Synchrony also has a high yield savings account with a minimum opening deposit of $0. The Synchrony High Yield Savings Account can be a bargain if you prioritize strong customer support – it has 24/7 customer service via phone and live chat.

The BrioDirect High Yield Savings Account can be attractive if you are able to keep at least $25 in your account daily.

The Bread Savings High Yield Savings Account requires at least $100 up front. If you haven’t heard of Bread Savings, you may recognize the name Comenity Direct. Comenity Direct recently changed its name because its parent company, Bread Financial, expanded to include lending options.

You may consider banking with LendingClub, CIT Bank, TAB Bank or Quontic Bank if you are looking to open other accounts in addition to your High Yield Savings Account.

LendingClub has a solid cash back checking account and Quontic offers several types of rewards checking accounts. The LendingClub High Yield Savings Account and the Quontic High Yield Savings Account both require a minimum of $100 for an initial deposit.

TAB Bank pays competitive rates on CDs with its High Yield Savings Account. However, keep in mind that TAB Bank does not have an ATM network, so when you use an ATM, the bank will charge you a fee.

Meanwhile, CIT Bank could be ideal if you are also looking for CDs or money market accounts. CIT Bank is currently offering a one-time promotional offer through its money market account, and the bank offers a wide range of CD options.

The Citizens Online Access Savings Account is another great high-yield savings account. However, keep in mind that you will need at least $5,000 to open an account.

The CIBC Agility Account is a good high-yield savings account overall, as long as you have at least $1,000 to open the account. CIBC Bank USA is the American division of the Toronto-based Canadian Imperial Bank of Commerce. CIBC Bank USA has an online savings account and CDs that you can open from anywhere in the United States. It also lets you open checking and money market accounts if you live in Illinois, Michigan, Missouri, or Wisconsin.

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