High yield savings accounts now offer rates up to 5.00% APY, which makes them substantially more rewarding than traditional options. Varo Bank and Fitness Bank’s top rate towers over the national average of 0.41% APY by more than 12 times.
The numbers tell an interesting story. A traditional savings account at 0.01% APY would give you just 10 cents on $1,000 in a year. The same money in a 5% high-yield account would put $50 in your pocket. The Federal Reserve’s steady federal funds rates have created excellent interest opportunities at banks of all sizes. You’ll find competitive rates like 4.66% APY at Axos Bank and 4.60% APY at Pibank. Most of these accounts come without monthly fees and need only small minimum balances.
Let me walk you through the 12 best high-yield savings accounts you can open in April 2025. We’ll look at their rates, requirements, and features to help you choose the best place for your savings.
Varo Bank High-Yield Savings Account
Varo Bank really shines when it comes to high-yield savings accounts. Their exceptional interest rates caught my attention while I was looking for ways to grow my savings.
Varo Bank APY and eligibility requirements
Varo offers a fantastic 5.00% APY on balances up to $5,000. The rate drops to 2.50% APY when your balance goes over this amount. Getting this premium rate is straightforward – you just need to meet two monthly requirements:
- Direct deposits that add up to $1,000 or more
- Keep a positive balance in both your Varo Bank and Savings accounts at month’s end
Your money still earns a solid 2.50% APY on the full balance even if you miss these targets. The direct deposits must come from your paycheck, pension, or government benefits. Money from friends or tax refunds won’t count here.
The best part about Varo’s savings account? You won’t find any minimum deposit rules or monthly fees. This means your money starts growing right away without extra costs eating into your earnings.
Varo Bank mobile experience and app features
Varo’s excellent mobile app is the heart of your banking experience. Users love it – the app scores 4.9 on the App Store and 4.7 on Google Play. You get immediate updates about your transactions and balance to keep your finances in check.
On top of that, Varo gives you two smart tools that make saving money a breeze:
- Save Your Pay: Your direct deposits automatically send a portion to savings
- Save Your Change: Purchase amounts round up to the nearest dollar, with the extra going to savings
The app includes a handy direct deposit tracker that shows your progress toward the higher savings rate next month. You can also check your credit score without any impact on your rating.
Varo Bank pros and cons
Pros:
- Their APY ranks among the highest you’ll find
- Zero monthly fees and no minimum balance rules
- Move money in and out of savings without limits
- Smart tools that help your savings grow automatically
- FDIC protection up to $250,000
Cons:
- The 5.00% APY works only for the first $5,000
- Monthly requirements include direct deposits and positive balances
- Fewer options compared to traditional banks
- No branch locations for face-to-face banking
Need help? Customer support runs seven days a week from 7 a.m. to 8:30 p.m. ET. They also offer 24/7 live chat when you need quick answers.
FitnessBank Ultra Savings Account
FitnessBank rewards your physical activity with financial benefits through their high-yield savings account. This innovative account links your daily step count to your interest rate, unlike traditional accounts that only look at deposit amounts.
FitnessBank APY and step-count requirement
The Ultra Savings Account gives you a remarkable 5.00% APY, making it one of the best high-yield savings accounts you can find in April 2025. You need to meet two requirements to earn this premium rate:
- Keep an average daily step count of 10,000 steps (7,500 steps if you’re 65 or older)
- Open an Elite Checking account with FitnessBank and keep an average daily balance of $5,000
Your interest rate drops to a bonus rate of 0.25% if you don’t maintain the minimum balance in your Elite Checking account. Your step count determines your interest tier with these rates:
- 10,000+ steps: 5.00% APY (7,500+ for seniors)
- 7,500-9,999 steps: 1.00% APY
- 5,000-7,499 steps: 0.75% APY
- 0-4,999 steps: 0.50% APY
FitnessBank account setup and mobile integration
You can open an account online in less than two minutes. You’ll need:
- A driver’s license or passport
- Your Social Security number
- Current bank account and routing numbers
The next step is downloading FitnessBank’s Step Tracker app that connects with your smartphone or fitness device. The app counts more than just walking – it converts running, cycling, and swimming into “steps”. You can earn bonus steps when you refer others, top leaderboards, or join promotional activities.
Your interest compounds daily and gets credited monthly. The bank gives new account holders the top tier rate through their first full month without any step requirements.
FitnessBank pros and cons
Pros:
- Top APY of 5.00% in the market
- Financial rewards for staying healthy
- FDIC-insured up to $250,000
- Good rates even with fewer steps
- Counts various physical activities beyond walking
Cons:
- Must have Elite Checking account with $5,000 minimum balance
- $10 monthly maintenance fee (waived with $100 minimum balance)
- $10 fee after six withdrawals per month
- Top rate requires regular physical activity
- No ATM card option
You need $100 to open an account, and each signer can have up to $250,000 in their account. This account works best for active people who want to maximize their savings while staying fit.
Axos Bank ONE Savings Account
Axos Bank’s ONE Savings Account bundle catches attention by blending checking and savings features. The sort of thing I love about this setup is how it gives you flexibility while earning good returns on your money.
Axos Bank APY and deposit requirements
The Axos ONE Savings Account gives you a solid 4.66% APY no matter your balance – from zero dollars to over $100,000. This rate is a big deal as it means that it’s 7x the national average for savings accounts. You’ll need to meet certain monthly requirements to get this premium rate.
You can qualify for the full 4.66% APY in one of two ways:
Option 1: Get monthly qualifying direct deposits of $1,500 or more to your Axos ONE Checking account and keep your average daily balance above $1,500.
Option 2: Get total monthly qualifying deposits of $5,000 or more through ACH transfers, wire transfers, or check deposits and keep your average daily balance above $5,000.
Your account earns a base rate of just 1.00% APY if you don’t meet these requirements. These qualifying transactions must clear by the 25th of each month.
Axos Bank digital tools and user experience
Axos’s mobile app works as your financial hub where you can easily manage personal and business accounts. The app lets you watch your spending patterns and check your credit score without affecting it. Money moves smoothly between Axos and other bank accounts.
Your security comes first with biometric ID options like voice, fingerprint, or face recognition, plus 128-bit SSL encryption to keep your information safe. The app sends instant alerts about your account activity and possible fraud.
You can track how your savings grow with tools that show your spending habits and saving trends. The app includes calculators to help you figure out potential earnings based on your APY.
Axos Bank pros and cons
Pros:
- No monthly fees to worry about
- Start your account with any amount
- Strong 4.66% APY for all balance levels
- Full-featured mobile banking app with helpful tools
- Free incoming wire transfers from home and abroad
Cons:
- You must hit specific monthly targets for the premium rate
- Basic 1.00% APY falls short of other banks
- Everything happens online – no physical branches
- Monthly qualification process takes several steps
- Other online banks might give you better savings rates
This account shines by combining checking and savings in one package, but you’ll need to stay on top of those monthly requirements to make it work best.
Pibank High-Yield Savings Account
Savers looking for simplicity in the high-yield market will find Pibank’s straightforward approach with its online savings account appealing. This nationwide online institution, a brand of Miami-based Intercredit Bank, offers an uncomplicated savings solution without typical hurdles found at other banks.
Pibank APY and no-minimum policy
Pibank’s high-yield savings account currently offers a competitive 4.60% APY as of February 2025. This rate applies to your entire balance from the very first penny (literally from $0.01).
Pibank stands out from many competitors through its commitment to accessibility:
- No minimum opening deposit required
- No minimum balance to maintain the advertised APY
- No monthly maintenance fees whatsoever
- No hidden fees or penalties
In fact, this transparency makes Pibank’s savings account attractive especially when you have just started your savings trip or prefer not to worry about maintaining specific balances to earn competitive rates. The interest on your balance is calculated daily and credited monthly on the 15th of each month.
Pibank accessibility and account features
Pibank operates entirely online, giving customers 24/7 access through their mobile app. Through the application, you can:
- Manage your account settings
- Track your balance in real-time
- Make transfers between accounts
Notwithstanding that Pibank is an online-only bank, it offers strong customer support. You can reach live assistance by phone at 877-678-0888 from 8 a.m. to 8 p.m. Eastern time, seven days a week. It also lets customers request callbacks, send secure messages through the help page, or communicate via secure email after signing into their accounts.
Pibank Savings is specifically designed as a non-transactional account that focuses on encouraging savings rather than frequent transactions. All deposits are FDIC insured up to $250,000 per signer (meaning joint accounts with two signers could be protected up to $500,000).
Seven years old in Spain and launched in the U.S. in 2024, Pibank brings its simplified approach to the American high-yield savings market.
BrioDirect High-Yield Savings Account
BrioDirect stands out in today’s high-yield savings market with an online-only bank that gives you great returns without complicated rules.
BrioDirect APY and deposit thresholds
BrioDirect’s high-yield savings account rewards you with a 4.45% APY. This rate puts it among the best options to grow your savings. The account has a base interest rate of 4.354%. Your interest compounds daily and goes into your account each statement cycle.
You’ll need $5,000 to open this high-yield savings account. This is a big deal as it means that many other banks ask for less money upfront. The good news? After opening your account, you only need $25 to keep earning that high APY.
Keep in mind that BrioDirect uses a variable interest rate. Your rate might change based on market conditions and what the Federal Reserve decides. The bank watches these factors closely to set their rates.
BrioDirect account limitations and benefits
This high-yield savings account comes with some great perks. You won’t pay any monthly maintenance fees. That means more money stays in your pocket. Paper statements cost $5 extra, but that’s optional.
The digital banking features make your life easier:
- You can deposit checks through your phone
- Move money between your linked accounts
- Bank online or through their mobile app
The account does have some limits. You can transfer up to $25,000 out of your account within three business days. Your monthly outbound transfers can’t exceed $100,000. You can ask customer service to raise these limits if needed.
Webster Bank, N.A. runs BrioDirect, so your money stays safe with FDIC insurance up to their maximum limits. While you won’t find checking accounts here, BrioDirect offers CDs if you want fixed-rate savings options.
Bread Savings High-Yield Account
Bread Savings (formerly Comenity Direct) stands out as a compelling high-yield option that maximizes returns without much hassle. The account’s features combine competitive rates with low entry requirements. This makes it perfect for both new and experienced savers.
Bread Savings APY and account fees
The high-yield market has a strong competitor in Bread Savings. They offer 4.35% APY on their savings account. You’ll get this rate across all balance tiers. The account needs just $100 to open, which makes it available to most savers. There’s no minimum balance needed to keep earning the advertised yield.
The account shines with its fee structure – you won’t pay any monthly maintenance fees. Your earnings stay intact without regular service charges eating into them. The account does have some specific transaction fees:
- $5 when you request paper statements (online statements are free)
- $15 for each official bank check
- $25 to send wire transfers
You can skip the wire transfer fee by using free ACH transfers. The $100 minimum opening deposit won’t cause penalties if your balance drops below it later.
Bread Savings mobile usability and support
The Bread Savings mobile app lets you manage your account from anywhere securely. Users seem happy with it – the app scores 4.6 out of 5 stars in the Apple Store. The Google Play store rating sits at 4.0 out of 5 stars.
The mobile app gives you all the basic banking features you need:
- Mobile check deposits
- Fund transfers between accounts
- Balance checks
- Account setting management
Customer support becomes crucial since Bread Savings doesn’t have physical branches. The good news is that help is just a phone call away – representatives work weekdays from 7 a.m. to 9 p.m. CT and weekends/most holidays from 9 a.m. to 5 p.m. CT. You can also send secure messages through your online banking portal.
Your money stays safe with FDIC insurance through Comenity Capital Bank up to $250,000 per depositor for each ownership category. This protection comes alongside competitive returns.
CIT Bank Platinum Savings
CIT Bank’s Platinum Savings account uses a tier-based system that rewards high-yield savings. The sort of thing I love about this account is how it combines competitive rates with transparent requirements.
CIT Bank APY tiers and balance requirements
CIT Bank Platinum Savings currently offers a competitive 4.10% APY that kicks in when you maintain a minimum balance of $5,000. Your interest rate drops significantly to 0.25% APY if your balance falls below this threshold. This makes the account a better fit for savers who can keep higher balances consistently.
You’ll need an original deposit of $100 to start, but the real benefits show up once you hit that $5,000 mark. The bank calculates interest daily and credits it monthly to accelerate your earnings through compound growth.
The account shines with zero monthly maintenance fees, which means you keep more of what you earn. On top of that, CIT Bank runs promotional offers from time to time – up to $300 with qualifying deposits.
CIT Bank account setup and digital access
Opening a CIT Bank Platinum Savings account happens completely online since they don’t have physical branches. The simple application takes about five minutes and you’ll need:
- Your home address and email
- Social Security number or Individual Taxpayer Identification Number
- Date of birth
- Initial deposit information
CIT Bank’s mobile app provides a straightforward way to manage your account with simple but useful features. The digital experience covers your everyday banking needs without unnecessary complexity.
You can access your money through:
- Electronic ACH transfers to linked accounts
- Outgoing wire transfers ($10 fee if balance below $25,000)
- Paper check requests by mail
Your deposits stay protected with FDIC insurance up to $250,000 per depositor, so you can focus on watching your savings grow.
EverBank Performance℠ Savings
EverBank leads the high-yield savings market with an account that makes saving easy and rewarding at any balance level. The account stands out as one of the top high-yield savings options by combining great rates with full-service features.
EverBank APY and no-minimum policy
EverBank Performance℠ Savings now offers a competitive 4.30% APY on all balances. This rate sits by a lot above the national average of 0.47%. Your balance amount doesn’t affect the rate – a welcome change from competitors who often use tiered rates.
The account comes with these great features:
- $0 minimum to open an account
- No monthly maintenance fees whatsoever[273]
- No minimum balance requirements to keep the APY
- Interest compounds daily and gets deposited monthly[291]
- FDIC-insured protection for your deposits[291]
The performance account pairs this customer-friendly approach with rates that are 9 times higher than the national average. Your money starts earning more right away without complex requirements or high deposit minimums.
EverBank customer service and weekend access
Beyond the great rates, EverBank gives account holders reliable ways to manage their money. Customers get 24/7 access to their accounts through complete digital tools, letting them bank whenever they need to.
Banking services include:
- Online transfers between accounts using web portal or mobile app
- Mobile deposits up to $50,000 daily
- Wire transfer options when moving larger funds
- Direct deposit setup to save automatically
EverBank runs physical financial centers in Florida and California for customers who prefer face-to-face service. These locations offer dedicated representatives, one-on-one appointments, ATMs, and drive-through teller services. The bank’s experts are ready to help customers with financial needs of all types.
EverBank’s 45+ years in business shows its stability and experience in banking. This track record helps when you think about where to put your savings.
TAB Bank High-Yield Savings
TAB Bank’s high-yield savings account is a strong choice to maximize your earnings without complex requirements. The digital banking platform makes saving money accessible to everyone.
TAB Bank APY and fee structure
TAB Bank rewards savers with a competitive 4.26% APY on high-yield savings accounts – about 10 times higher than the national average. Your money earns this rate at all balance tiers with daily interest compounding. You only need $0.01 to start earning this APY.
The account really excels with its simple fee structure. You won’t pay any monthly maintenance fees, and there’s no minimum deposit requirement to open an account. Your earnings potential has no limits since there are no balance caps on the full interest rate.
Budget-conscious savers should note these specific transaction fees:
- $15 for cashier’s checks
- $20 for excessive withdrawals beyond federal limits
- $10 account closure fee
TAB Bank digital banking experience
TAB Bank delivers services entirely online through its modern mobile banking platform. Users love the app, giving it 4.7 stars on the App Store and 4.2 stars on Google Play.
The user-friendly digital platform lets customers:
- Check account balances
- Search transaction history
- Transfer funds between accounts
- Pay bills and deposit checks remotely
Customer service representatives are ready to help during extended hours – weekdays from 6 a.m. to 7 p.m. Mountain Time and Saturdays from 9 a.m. to 3 p.m. Mountain Time[322]. Service hours exclude holidays.
TAB Bank gives savers a simple path to high-yield earnings without complex requirements or maintenance hassles. Your deposits stay FDIC-insured, so you can earn interest with peace of mind.
LendingClub LevelUp Savings
LendingClub rewards loyal savers through its innovative LevelUp Savings account. The deposit-based tiered system gives great rates to customers who save regularly. This makes it a perfect fit for anyone building a savings habit.
LendingClub APY and deposit requirements
The LevelUp Savings account pays an impressive 5.30% APY (LevelUp Rate) to customers who deposit $250 or more each month—about 11 times higher than the national average. Your money still earns a competitive 4.80% APY (Standard Rate) during months when deposits fall below this amount.
The premium rate comes with simple requirements:
- Put in at least $250 monthly during each statement cycle
- Interest payments, account bonuses, credits, and refunds don’t count toward this requirement
New account holders automatically get the LevelUp Rate for their first two statement cycles. The account stands out from competitors because it needs no minimum opening balance and has no minimum balance requirement to earn either rate.
Your money grows without any fees—no monthly maintenance charges or hidden costs eat into your earnings. The account also comes with a free ATM card that gives unlimited rebates for ATM owner fees.
LendingClub integration with checking accounts
The LevelUp Savings account works well on its own but caters to former borrowers. The idea makes sense—customers can build their savings by depositing the same amount they used to pay toward their loan.
Customers with other LendingClub products can use the bank’s highly-rated mobile app (iOS and Android). This setup lets you manage your money smoothly across all accounts.
Your deposits stay FDIC insured up to the maximum allowed by law. LendingClub, as a digital marketplace bank, helps members improve their financial health with products that boost savings earnings while reducing debt costs.
Primis Bank Savings Account
Primis Bank stands out with its high-yield savings accounts that anyone can open. Their competitive returns and low barriers make them a great choice for savers who want to maximize their interest earnings without dealing with complicated rules.
Primis Bank APY and no-minimum policy
The bank’s savings account comes with an impressive 4.35% APY. You can open an account with just $1.00, which makes it exceptionally easy to get started. The bank lets you earn the full advertised APY without maintaining any minimum balance[381].
The bank keeps its fee structure simple. Account holders get:
- No monthly maintenance fees
- No overdraft fees
- No transaction limits[384]
- No caps on interest earnings
Your savings grow steadily with interest that compounds and gets credited monthly. Here’s a quick look at potential annual earnings based on different deposits:
- $100 deposit = $5.07 in interest earned
- $1,000 deposit = $50.70 in interest earned
- $5,000 deposit = $253.50 in interest earned
Primis Bank mobile and ATM access
The bank operates mostly online, with physical branches only in Virginia and Maryland. This makes their mobile banking experience a vital part of their service.
The Primis Mobile Banking App lets you manage your account easily with features to:
- Check your instant balance without logging in
- Transfer money between accounts
- Deposit checks remotely with limits up to $25,000 per day
- Track spending patterns
The bank doesn’t provide ATM cards specifically for savings accounts. All the same, if you have a Primis checking account, you can use any ATM nationwide. The bank doesn’t cover fees from other ATMs though.
You can withdraw money from your savings through ACH transfers or wire transfers. The bank limits daily withdrawals to $550, which is nowhere near what other online banks offer.
Bask Bank Interest Savings Account
Bask Bank goes beyond regular banking by offering a digital high-yield savings account. The account combines simple features with great returns, which catches the attention of people looking for straightforward online banking options.
Bask Bank APY and account features
The Bask Bank Interest Savings Account gives you a 4.20% APY, which is much higher than the national average. This digital savings option stands out because you don’t need a minimum deposit to open it and there are no monthly maintenance fees. Your money grows faster because interest adds up every day.
You can set up your account online in 15 minutes or less. The process is quick and easy. Remember to fund your account within 15 business days after opening it to keep it active.
Bask Bank works completely online and offers Interest Savings and Mileage Savings accounts. The interest rate is 4.11%, but you actually earn 4.20% APY because of compound interest. Of course, all deposits are FDIC insured, so your money stays safe.
Bask Bank pros and cons for online users
Pros:
- High 4.20% APY (some sources show rates up to 5.10%)
- Zero monthly account fees and no minimum balance requirements
- No overdraft fees
- Simple online application process
- FDIC insured deposits for peace of mind
Cons:
- No ATM or debit cards for direct access
- You can only withdraw through electronic or wire transfers
- Limited to six transfers each month
- No physical branches
- Account closure if not funded on time
Bask Bank works great if you’re comfortable with online banking and want to earn more on your savings. The bank keeps things simple by removing fees and minimum balances while offering competitive returns on deposits.
Comparison Table
| Bank | APY | Min. Opening Deposit | Monthly Fee | Special Requirements | Notable Features |
|---|---|---|---|---|---|
| Varo Bank | 5.00% (up to $5,000), 2.50% after | $0 | $0 | $1,000 monthly direct deposits; positive balance in both accounts | Automatic savings tools; mobile-only banking |
| FitnessBank | 5.00% | $100 | $10 (waivable) | 10,000+ daily steps; $5,000 Elite Checking balance | Step-counting rewards system; senior step requirements available |
| Axos Bank | 4.66% | $0 | $0 | $1,500 monthly direct deposits OR $5,000 total monthly deposits | Free incoming wire transfers; detailed mobile tools |
| Pibank | 4.60% | $0 | $0 | None | 24/7 customer support; non-transactional focus |
| BrioDirect | 4.45% | $5,000 | $0 | $25 minimum balance to maintain APY | Daily interest compounding; mobile check deposit |
| Bread Savings | 4.35% | $100 | $0 | None | Extended customer support hours; secure messaging |
| CIT Bank | 4.10% | $100 | $0 | $5,000 minimum for premium rate | Up to $300 bonus with qualifying deposits |
| EverBank | 4.30% | $0 | $0 | None | Physical branches in FL and CA; 24/7 digital access |
| TAB Bank | 4.26% | $0 | $0 | None | Mobile check deposit; extended customer service hours |
| LendingClub | 5.30% | $0 | $0 | $250 monthly deposit for premium rate | Free ATM card with unlimited rebates |
| Primis Bank | 4.35% | $1 | $0 | None | No transaction limits; mobile check deposit |
| Bask Bank | 4.20% | $0 | $0 | Must fund within 15 business days | Digital-only banking; daily interest compounding |
Conclusion
The right high-yield savings account can substantially boost your money’s growth. Our comparison shows Varo Bank and FitnessBank leading with impressive 5.00% APYs. Each bank has its own rules – Varo needs minimum direct deposits while FitnessBank tracks your daily steps.
Most accounts are easy to access with no minimum balances or monthly fees. Pibank and EverBank’s straightforward approach stands out. They offer competitive rates without any special conditions. LendingClub’s LevelUp Savings gives better APYs when you make regular deposits.
Your banking habits and financial goals should guide your choice. Varo’s top-tier rate works well if you get regular direct deposits. FitnessBank’s step-counting system could maximize returns for active people.
The best strategy is to pick features that match your daily routine instead of chasing the highest rate. Take time to think about digital access, balance requirements, and fee structures along with APY numbers. Interest rates can change with market conditions, so today’s competitive accounts might adjust their offerings. A smart choice now will pay off for years.
FAQs
Q1. What is the highest APY currently offered for high-yield savings accounts? As of April 2025, the highest APY offered is 5.00%, available from banks like Varo Bank and FitnessBank. However, these rates often come with specific requirements such as minimum direct deposits or daily step counts.
Q2. Are there any high-yield savings accounts without minimum balance requirements? Yes, several banks offer high-yield savings accounts with no minimum balance requirements. Examples include Pibank, EverBank, and Primis Bank, which all offer competitive APYs without imposing minimum balance restrictions.
Q3. How do online-only banks compare to traditional banks for high-yield savings? Online-only banks typically offer higher APYs than traditional banks due to lower overhead costs. They often provide user-friendly mobile apps and extended customer support hours, but lack physical branch locations for in-person services.
Q4. Can I easily access my money in a high-yield savings account? Most high-yield savings accounts allow easy access to your money through electronic transfers, though some may have withdrawal limits. Some accounts, like LendingClub’s, even offer free ATM cards. However, immediate access may be more limited compared to checking accounts.
Q5. Are high-yield savings accounts FDIC insured? Yes, high-yield savings accounts offered by FDIC-member banks are typically insured up to $250,000 per depositor, per insured bank. This insurance provides protection for your deposits in case the bank fails.
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