10 Best High-Yield Savings Accounts in December 2024

My Banking Direct has an exceptional APY, a reasonable minimum deposit, and a unique savings/checking combo that makes both saving and spending money easy. It offers a savings/checking combo that allows you to transfer money between accounts easily and instantly. Additionally, it offers a competitive savings interest rate of 4.85% APY* and doesn't charge monthly maintenance fees. A $500 minimum deposit opens an account.

Western Alliance Bank offers a top interest rate with no required minimum balance and no monthly fees.. It is a solid option for high-yield savings accounts with no account activity or maintenance fees. It offers a competitive interest rate and requires a minimum balance of $500 to open an account. Additionally, it offers 24/7 online access to your account.

UFB Direct offers a high yield for all savers, regardless of savings balance. It also offers seamless account access due to excellent remote tools.

UFB Direct may not be a household name for bank accounts, but its UFB Portfolio Savings offers competitive interest rates without unnecessary fees. This high-yield savings account is an excellent choice for all levels of savers because all customers receive the same high interest rate, no matter what their balances are.

Customers can quickly and easily open an account online through this digital bank and then seamlessly access their account through the bank's remote tools. UFB customers can access their account online, through the bank's mobile apps or by texting. The bank-by-text feature is ideal when internet access is limited or when time is of the essence. All customers also receive a complimentary ATM card to withdraw cash on the go.

This savings account is also easy on the wallet because there are no monthly fees or minimum balance requirements. Additionally, there's no minimum balance required in order to earn its premium interest rate. Plus, you can keep your existing bank account since UFB Direct offers free transfers between linked deposit accounts.

Bask Bank has one of the best customer service operations in the business including by phone, online, and on the Bask app.

The Bask Interest Savings Account offers a high rate with $0 monthly account fees and $0.01 minimum account balance to earn APY*. And Bask Bank is a standout for service. Customers can call the support line between 7 am and 7 pm CST Monday through Friday, and on Saturdays between 9 am and 4 pm. There’s also information online and on the Bask app. The account doesn’t provide an ATM or debit card, however. It is important to note that while there does not appear to be a minimum opening deposit required, any account with no balance will be closed after 15 days.

Betterment offers integration with the Betterment online investment platform and FDIC insurance up to $2 million ($4 million for joint accounts) using its program banks.

Betterment Cash Reserve is a high-yield savings account offered by Betterment, a popular online investment platform. This savings account offers a competitive interest rate of 4.50% APY with a low minimum opening deposit of $10 and no minimum balance requirement to earn the APY. Additionally, there are no monthly fees associated with this account.

One of the key advantages of Betterment Cash Reserve is its seamless integration with the Betterment platform, allowing customers to easily manage their savings alongside their investment accounts. The account provides a simple and user-friendly online interface for account management and transfers.

However, it's important to note that Betterment Cash Reserve does not offer physical branch locations or checking account features, so it may not be suitable for those who require in-person banking services or a combined checking and savings account.

CIT offers frequent bonuses and promotions, especially for new customers, that make it one to watch.

CIT Bank's Platinum Savings Account is an excellent choice for those seeking a high-yield savings product. The bank's rate stands out in the market, providing customers a competitive edge in growing their savings. Currently, the CIT Bank's Platinum Savings Account offers a 4.55% APY* with a balance of $5,000 or more, but you can start with as little as $100 with 0.25% APY. What makes CIT Bank particularly intriguing are its unique promotions, which typically offer substantial bonuses or even higher interest rates for new deposits or accounts.

While the bank operates primarily online, its user-friendly interface and top-notch customer service make banking a breeze. Security is also paramount at CIT Bank, ensuring your funds are safe and protected. However, keep in mind that this savings account may not be the best choice for those who prefer traditional, brick-and-mortar banking, or for those who frequently need to withdraw funds, as it might come with certain limitations. In summary, the CIT Bank's Platinum Savings Account, with its high APY* and attractive promotions, is an excellent option for customers looking to maximize their savings potential.

Quontic offers multiple options for growing deposits including HYSA, CDs, and MMAs.

Quontic stands out for the many ways you can increase the earning potential of your cash. In addition to their high-yield savings account growing your money at a high rate, Quontic also offers certificates of deposit and money market accounts.

Live Oak Bank lets you initiate wire transfers from your savings account and also lets you connect to Quickbooks.

Customers can quickly open an online savings account with Live Oak to receive a competitive interest rate with no monthly fees or minimum balance requirements. Two features that set it apart are the ability to initiate wire transfers from your savings account and to connect with QuickBooks. These features make it an ideal savings account for entrepreneurs and small business owners. While there are no minimum deposit or balance requirements, if your account balance is less than $10.01 for 24 consecutive months, the bank will close your account and charge a dormant account fee equal to your remaining balance.

Barclays Bank lets you link to a Barclays checking account, making transfers convenient and quick.

With a high APY of Up to 4.80%, Barclays Bank’s high-yield savings account includes many of the same features as other similar accounts, including secure 24/7 account access, free online transfers, direct deposit, no minimums and no minimum deposit to open. Barclays also offers tools to help you reach your savings goals.

Discover Bank's competitive interest rate, robust platform, and fee-free wire transfers make it an easy choice for savers.

Discover® Online Savings is the ultimate choice for those seeking a hassle-free wire transfer experience without incurring any fees. With its robust online banking platform, customers can effortlessly initiate wire transfers from the comfort of their own homes, eliminating the need for time-consuming visits to physical branches.

Discover® Bank prioritizes customer convenience and ensures that hard-earned money can be moved swiftly and securely, all at no extra cost. Furthermore, their Online Savings account offers a highly competitive Annual Percentage Yield (APY), allowing individuals to maximize their earnings on savings.

By combining the convenience of fee-free wire transfers with a lucrative APY, Discover® Bank empowers its customers to effortlessly grow their savings while enjoying unparalleled flexibility and financial freedom. Member FDIC.