If you’ve been watching your savings grow slowly in a traditional account, now’s the time to reconsider. Some of the best high-yield savings accounts in the U.S. are offering up to 5.00% APY as of June 13, 2025 — a rate that significantly outpaces the national average of just 0.41%.
Whether you’re building an emergency fund or just want a smarter place to park your cash, here’s what today’s savings landscape looks like — and which banks are delivering the top rates.
What’s the Top Rate Today?
The highest APY available on a high-yield savings account today is 5.00%, currently offered by Varo Money (with requirements). That’s more than 12 times the national average — and a compelling option if you’re aiming to make your idle money work harder without market risk.
Today’s Best High-Yield Savings Accounts (June 13, 2025)
| Bank | APY | Minimum Balance | Estimated Annual Interest on $25,000 | Details |
| Varo Money | 5.00% | Requirements apply | $1,250 | Up to 5.00% with direct deposit + balance limits |
| EverBank | 4.30% | $0 | $1,075 | No monthly fees, no minimum to earn top rate |
| CIT Bank | 4.00% | $100 | $1,000 | Strong rate, minimum balance required |
| Capital One | 3.60% | $0 | $900 | Widely accessible, well-known national bank |
Rates are current as of June 13, 2025. Check individual institutions for the most updated terms and qualifications.
How These Accounts Compare
While 5.00% APY is the standout figure, not all accounts are created equal. Here’s what to keep in mind:
1. Varo Money: Up to 5.00% APY
To earn the full 5.00% APY, you’ll need to meet monthly requirements, such as setting up direct deposit and maintaining a capped balance. It’s a tiered system, so balances above a threshold may earn a lower rate. Still, if you qualify, Varo leads the market in returns.
2. EverBank: 4.30% APY
A consistently high rate with no minimum balance or maintenance fees. EverBank (formerly TIAA Bank) is a strong choice for savers who want flexibility without compromising on earnings.
3. CIT Bank: 4.00% APY
A reliable player in the high-yield space. While it does require a $100 minimum, its overall structure remains competitive. Great for disciplined savers comfortable with online-only banking.
4. Capital One: 3.60% APY
Known for its simple, user-friendly interface and mobile tools, Capital One is one of the few big names offering a competitive savings rate. No minimums or fees make this a solid option if you prefer to bank with a recognizable name.
How to Choose the Right High-Yield Savings Account
With multiple strong offers available, your choice depends on:
- Your balance size: Some accounts have caps on the amount eligible for the highest APY.
- Access needs: If you need branch access, online-only banks may not be ideal.
- Fees and requirements: Look for no monthly maintenance fees and realistic qualification terms.
- Customer support and mobile tools: Particularly important if you prefer managing finances on the go.
Also, all the accounts listed are FDIC-insured, meaning your deposits (up to $250,000 per account holder, per institution) are protected.
Why These Rates Matter in 2025
With the Federal Reserve holding the federal funds rate steady since December 2024 (currently at 4.25%–4.50%), savings account rates have remained strong. The next FOMC meeting is scheduled for June 17–18, 2025, and while no immediate changes are expected, any shift in rate policy could influence these yields in the months ahead.
High-yield savings accounts provide a safe harbor for savers in uncertain economic times, offering steady growth with zero exposure to market volatility.