Best High-Yield Savings Account Rates Today, June 23, 2025: Up to 5.00%
The Federal Reserve closed out its June 18 meeting last week with no changes to interest rates — giving savers a bit more time to take advantage of today’s strong yields. For now, many high-yield savings accounts (HYSAs) are still paying over 4.00% APY, far outpacing traditional savings accounts.
HYSAs offer the best of both worlds: your money stays accessible, earns competitive interest, and is protected by FDIC insurance. There’s no need to lock it away to see real growth.
Below, we’ve highlighted the top HYSA rates available today — so you can put your savings to work while rates are still holding steady.
Featured pick: The Barclays Tiered Savings account stands out with a 3.90% 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 22, 2025.
Should you open an HYSA now?
With the Fed choosing to hold interest rates steady once again, savers still have a window to take advantage of elevated yields. While traditional banks are offering next to nothing, many high-yield savings accounts are paying up to 5.00% APY — and you won’t have to lock your money away to get it.
That means you can earn solid interest while keeping full access to your cash. Combine that with FDIC insurance, and you’ve got a low-risk, flexible way to grow your savings.
Just don’t assume these rates will stick around forever. As the chart below demonstrates, yields can rise quickly — and fall just as fast if rate cuts are on the horizon.
How to open an HYSA
Opening a new high-yield savings account is fast and easy. Here’s how to get started:
- Shop around and compare rates. 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.
- Have your personal information ready. Be prepared 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 access. Download the bank’s app or log in online to easily track your balance, transfer money, and manage your savings anytime.
Grow a $10,000 HYSA balance by nearly $400 in a year
How much you earn from a high-yield savings account comes down to two things: your balance and the annual percentage yield (APY).
For example, if you park $10,000 in an account offering 3.90% APY, you’d earn about $390 in interest over the course of a year. And unlike a CD, your cash stays fully accessible. That’s a big improvement over the tiny returns you’d get from a standard savings account at a traditional bank.
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 utilize direct deposit with their new account, the SoFi Checking and Savings account (Member FDIC) is tough 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: Earn up to $300 bonus with direct deposit.
Plus, new customers earn an extra 0.20% APY on savings for up to 6 months with direct deposit (terms apply) — that equals up to 4.00% APY!
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.