Up to 5.00% APY: These Are the Best High-Yield Savings Account Rates Today, Sept. 29, 2025
Is now the right time to open a high-yield savings account?
Even after the Fed’s recent rate cut, many of the best HYSAs are still paying between 4.00% and 5.00% APY — some of the strongest returns in years and far above the tiny interest most big banks offer.
They’re safe, flexible, and simple to use. Deposits up to $250,000 are FDIC-insured, and you can move or withdraw your money anytime. With no lockup period, an HYSA is a smart spot for an emergency fund or short-term savings you want to keep accessible.
The catch? These rates may not hold for long. With the Fed’s first cut of the year officially in place, APYs could start sliding lower as 2025 continues. That makes today’s higher yields especially valuable for anyone ready to take advantage now.
Open a high-yield savings account in 3 easy steps
It only takes a few minutes to open an HYSA. Here’s what to do:
- Choose your account. Look for one with a high APY, no monthly fees, and terms you can meet without hassle. A bank that also offers checking accounts can make transfers between accounts fast and easy.
- Apply online. Most banks have a short application you can fill out on their website. You’ll need some basic details, like your address and Social Security number.
- Transfer your funds. Once your account is open, move money over from your existing savings or checking. Bank-to-bank transfers usually take a few business days.
That’s all it takes to start earning more on your savings — just don’t forget to update any automatic deposits or withdrawals to your new account.
How much can your money earn in a high-yield savings account?
At 4.00% APY, your savings can build up surprisingly fast. The table below shows how much interest you could earn over time based on your starting balance.
|
Starting Balance |
1 Year |
5 Years |
10 Years |
20 Years |
|---|---|---|---|---|
|
$5,000 |
$204 |
$1,104 |
$2,457 |
$5,622 |
|
$10,000 |
$408 |
$2,208 |
$4,914 |
$11,244 |
|
$20,000 |
$816 |
$4,416 |
$9,828 |
$22,488 |
Data source: Author’s calculations.
Even a smaller deposit can turn into thousands in interest if you let it sit and grow — no extra contributions needed.
Open one of the top HYSAs now, and your cash could start earning up to 10 times more interest than the average savings account.