Today's Best High-Yield Savings Account Rates: August 18, 2025 — Earn up to 5.00% APY

Savers still have an edge this summer. Many high-yield savings accounts (HYSAs) are offering 4.00% APY or more, thanks to the Fed keeping rates steady throughout 2025 so far.

An HYSA works much like a regular savings account — your money is FDIC-insured, easy to access, and safe. The only real difference is the return, and that difference can add up quickly. Even a modest balance can grow faster than you’d expect.

Rates could slip later this year, so locking in a top APY now makes sense. If you haven’t opened one yet, it’s not too late to join those already taking advantage.

Here are today’s best high-yield savings account rates.

• Varo Savings — up to 5.00% APY (Max APY on up to $5,000, 2.50% APY after)
• Pibank Savings — 4.60% APY (No min. balance)
• Elevault — 4.60% APY (No min. balance. Balances over $250,000 do not earn interest)
• Presidential Bank Advantage Savings — 4.50% APY ($5,000 min. to open, terms apply)
• Axos ONE® — up to 4.46% APY (Min. balance: $1,500)

Data source: Issuing banks. Rates are accurate as of August 17, 2025.

Should you open a high-yield savings account now?

At the moment, top HYSAs are paying between 4.00% and 5.00% APY — far better than inflation and miles ahead of what most traditional savings accounts offer.

They’re safe, too. Your deposits (up to $250,000) are FDIC-insured, and you can transfer or withdraw money whenever you need it. Link it to your checking account, and your cash is always just a few clicks away.

An HYSA is usually a smart place to keep savings, but right now could be one of the best times to act. The Fed left rates unchanged at its last meeting, but many experts believe cuts are coming before the end of the year — and some banks have already started lowering APYs. If you wait, you might miss out on today’s higher rates.

Open an HYSA in just 3 easy steps

You can open a high-yield savings account in just a few minutes. Here’s how:

1. Pick the right high-yield savings account. Search for one with a strong APY, no monthly fees, and requirements you can easily meet. If possible, choose a bank that also offers a checking account so you can link the two for quick transfers.
2. Apply online. Most banks let you open an account online. You’ll just need a few basics, like your address and Social Security number.
3. Move your money. Log in to your new account and transfer funds from your old savings or checking account. Transfers between banks usually take a few business days.

That’s all it takes to open an HYSA and start earning a high APY. Note: You may also need to redirect any automatic deposits or withdrawals to your new account.

How much money can a high-yield savings account earn?

Here’s how much interest you’d earn over time with an HYSA paying 4.00% APY, depending on your starting balance.

Data source: Author’s calculations.

Even a smaller balance can earn thousands of dollars in interest over time — and that’s if you never add a cent more of your own money.

So don’t wait. Open a high-yield savings account today to start earning 10 times more interest than the average saver.