Best High-Yield Savings Account Rates Today, June 9, 2025: Up to 5.00%
High-yield savings accounts (HYSAs) continue to offer some of the most attractive returns we’ve seen in quite a while, with the Fed keeping interest rates steady so far in 2025. But these higher APYs may not stick around for long. With possible rate cuts looming as early as this summer, many of today’s best offers could start to slip.
If your savings are still sitting in a standard account earning just 0.01%, you’re leaving easy money on the table. The good news is that switching to an HYSA is fast and hassle-free, giving your savings a chance to grow while keeping your funds fully accessible whenever you need them.
Below, we’ve rounded up the best savings account rates available right now — grab a top rate while you still can.
Featured pick: The Barclays Tiered Savings account stands out with a 4.00% APY and no minimum balance required to earn interest. It’s one of the few top-tier rates still widely available — and with no account fees, it’s a smart move while rates remain high. Open a Barclays Tiered Savings account today.
- Varo Savings — up to 5.00% APY (Max APY on up to $5,000, 2.50% APY after)
- Axos ONE® — up to 4.66% APY (Min. balance: $1,500)
- Pibank Savings — 4.60% APY (No min. balance)
- Elevault — 4.60% APY (No min. balance. Balances over $250,000 do not earn interest)
- Go2bank Savings — 4.50% APY (No min. balance)
Data source: Issuing banks. Rates are accurate as of June 8, 2025.
Is now a good time to open a high-yield savings account?
If growing your savings is one of your goals, this is a great time to consider a high-yield savings account. With some accounts offering APYs up to 5.00%, you can earn much more than you would with a typical savings account. These accounts give you the best of both worlds: steady growth, easy access to your money, and very little risk along the way.
Plus, your funds are protected by FDIC insurance while they earn interest. Just keep in mind that rates can change quickly. As the chart below shows, deposit rates rose rapidly during the Fed’s last rate hikes and could drop just as fast if cuts start later this year.
How to open a high-yield savings account
Opening a high-yield savings account is quick and easy to do — most people can accomplish it in just a few minutes. Here’s how to get started:
- Shop around for the best rate. Compare offers from different banks and credit unions to find the highest APY, minimal fees, and helpful features like mobile access and easy transfers. Online banks often offer the most competitive rates.
- Gather your personal information. Be ready with details like your name, address, Social Security number, and a valid form of ID.
- Submit your application. Most banks let you apply online by filling out a short form to open your new account.
- Fund your account. Link an existing checking or savings account to transfer funds. Some banks may require a small opening deposit, so check the account terms.
- Set up account access. Download the bank’s app or log in online to easily track your balance, transfer money, and manage your savings anytime.
Deposit $10,000 in an HYSA and earn $400 in a year
How much you earn in a high-yield savings account depends on your balance and the APY (annual percentage yield).
For example, if you deposit $10,000 into an account with a 4.00% APY, you’d earn about $400 over the course of a year — all while keeping your money fully accessible. That’s a big improvement compared to traditional savings accounts, where interest rates are typically much lower.
Opening an account with a top-tier APY, like Barclays Tiered Savings, can help you maximize your returns before rates drop. Open a Barclays Tiered Savings account here before rates fall again.
Open a SoFi Checking and Savings account (Member FDIC) and get a cash bonus
For those who plan to set up direct deposit with their new account, the SoFi Checking and Savings account (Member FDIC) is hard to beat. Not only does this savings account offer a strong APY of up to 3.80%, but the linked checking account earns an above-average rate, too — a rare perk. Even better: New customers can earn up to a $300 bonus with qualifying direct deposits!
Frankly, it’s the kind of combo that could make it worthwhile to switch banking relationships. Open a SoFi Checking and Savings account (Member FDIC) today and see how to qualify for the full bonus.