Best High-Yield Savings Account Rates Today (September 29, 2025)
Savers can still find attractive returns as of September 29, 2025, with many high-yield savings accounts (HYSAs) offering between 4.00% and 5.00% APY. However, recent and potential future rate cuts by the Federal Reserve (the Fed) suggest these yields may not last. Now may be an opportune time to lock in a higher rate.
Why Choose a High-Yield Savings Account?
A high-yield savings account is essentially a savings account offered by a U.S. financial institution that provides a significantly higher interest rate than the national average. These accounts are beneficial for those seeking to maximize their savings returns, particularly for emergency funds or short-term financial goals. Unlike traditional banks, institutions offering high-yield savings accounts often operate online, leading to lower overhead costs which are then passed on to customers in the form of higher rates.
Top High-Yield Savings Account Options
While the national average savings rate currently stands at 0.40%, many high-yield savings accounts offer rates well above 4.00%. As of September 29, 2025, Poppy Bank offered the highest savings account rate available from verified partners, at 4.25% APY.
| Bank | Account | APY | Minimum Balance to Earn APY | Notes |
|---|---|---|---|---|
| Western Alliance Bank (via Raisin) | High-Yield Savings | 4.20% | $1 | Up to $1,000 Cash Bonus with Code EASY |
| CIT Bank | Platinum Savings | 3.85% | $5,000 | Earn up to $300 on balances of $50,000+. Terms apply. |
| SoFi | Checking and Savings | Up to 4.50% (with APY Boost) | $0 | Requires Eligible Direct Deposit, Terms Apply |
| American Express | High Yield Savings Account | 3.50% | $0 | N/A |
| Discover Bank | Online Savings | 3.50% | $0 | Earn up to $200 bonus with code TMF925, deposit required |
| Capital One | 360 Performance Savings | 3.50% | $0 | See Capital One website for up-to-date rates. |
| Barclays | Tiered Savings | 3.90% (balances < $250,000), 4.10% (balances > $250,000) | $0 | N/A |
| E*TRADE | Premium Savings | 3.75% | $0.01 | N/A |
| LendingClub | LevelUp Savings | 4.20% (with $250+ monthly deposits) | $0 to open, $250+ for max APY | Standard Rate of 3.20% APY otherwise, Terms Apply |
| NexBank (via Raisin) | High-Yield Savings Account | 4.26% | $1 | N/A |
| EverBank | Performance℠ Savings | 4.05% | $0 | N/A |
Factors to Consider When Choosing a Savings Account
When selecting a high-yield savings account, consider not only the APY but also factors like minimum balance requirements, monthly fees, accessibility of funds, and the FDIC insurance status of the institution. Ensure the account is easily accessible and that there are no hidden fees that could erode your savings. Interest rates are subject to change, so it's crucial to monitor rates and adjust accordingly.
The Fed's Impact and Future Outlook
The Fed has already cut rates several times. These cuts have an immediate impact on savings accounts, causing rates to drop. Banks may continue to reduce their APYs due to the possibility of additional cuts at the Fed's remaining meetings in 2025. Therefore, taking advantage of current high rates is increasingly important.
Frequently Asked Questions
- How often do APYs on high-yield savings accounts change? Banks can change rates at their discretion, typically following Federal Reserve rate adjustments.
- Should I switch banks if I find a savings account with a higher rate? Maybe. Consider the rate difference and minimum deposit requirements.
- How easy is it to withdraw money from a HYSA? Varies by institution, but many offer easy digital transfers. Withdrawal limits may apply.
- Should I choose an online-only bank for my HYSA? Online banks often offer higher APYs due to lower overhead costs.
- Can I lose money in a high-yield savings account? Ensure FDIC insurance. Inflation can erode purchasing power if it outpaces the APY.
