Best High Yield Savings Account Rates to Grow Your Money 5.25% APY

Posted on Aug 25th 2023

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Best High Yield Savings Account Rates to Grow Your Money 5.25% APY

By Emma Johnson

Banks are offering great returns (relatively) right now. If you have money just sitting in your Checking account, let it grow here.

If you are afraid interest rates may fall or that the stock market may go down, it might be a good time to lock down with a CD.

Don't forget FDIC insures up to $250,000

Savings Accounts ( Can Pull Out Money Anytime )

UFB Direct - 5.25% APY ( no minimum )
Popular Direct - 5.2% APY ( min of $100 )
CFG Bank - 5.2% APY ( min of $1000 )
Dollar Savings Direct - 5.0% APY ( No minimum )
Bask Bank - 5.0% ( No minimum )
CIT Bank - 4.65% ( min of $100 )
SoFi Bank - 4.5% (Must setup direct deposit)
Synchrony - 4.5% APY ( No minimum )
Barclays - 4.35% APY ( No minimum )
Discover - 4.3% APY ( No minimum )
Bank of America - 0.04% ( don't consider )

Certificate of Deposit CD - ( Money is locked in for a period )
If you don't mind keeping your money in the bank for a certain time, CD (Certificate of Deposit) would give you a slightly better rate and rates will not change for that time period.

6 Months - TotalDirectBank - 5.56% ( min of $25k )
6 Months - Popular Direct - 5.35% ( min $10k )
6 Months - Merrick Bank - 5.35% ( min $25k )
9 Months - NASA FCU 5.55% ( min of $10k - need membership )
9 Months - Merrick Bank - 5.4% ( min $25k )
9 Months - Live Oak Bank CD - 5.1% ( min $2.5k )
1 Year - Connexus - 5.75% ( min $100k, $5 Membership )
1 Year - Popular Direct - 5.5% ( min $10k )
1 Year - Merrick Bank CD - 5.5% ( min of $25k )
1 Year - Vanguard Brokered CD - 5.35% ( min $1k )
1 Year - Fidelity Brokered CD - 5.35% ( min $1k )
1 Year - Live Oak Bank CD - 5.2% ( min $2.5k )
1.5 Years - Vanguard Brokered CD - 5.3% ( min $1k )
1.5 Years - Popular Direct - 5.3% ( min $10k )
1.5 Years - Merrick Bank CD - 5.25% ( min of $25k )
1.5 Years - Live Oak Bank CD - 2.0% ( min $2.5k )
2 Years - Merrick Bank CD - 5.15% ( min of $25k )
2 Years - Fidelity Brokered CD - 5.1% ( min $1k )
2 Years - Vanguard Brokered CD - 5.1% ( min $1k )
3 Years - USS FCU - 5.13% ( min $1k, $65 membership )
3 Years - Vanguard Brokered CD - 4.9% ( min $1k )
3 Years - Fidelity Brokered CD - 4.9% ( min $1k )
3 Years - iGoBanking - 4.75% ( min of $1k )
3 Years - Popular Direct - 4.75% ( min $10k )
3 Years - Merrick Bank CD - 4.5% ( min of $25k )
4 Years - iGoBanking - 4.75% ( min of $1k )
4 Years - Vanguard Brokered CD - 4.7% ( min $1k )
4 Years - Popular Direct - 4.3% ( min $10k )
4 Years - Merrick Bank CD - 4.3% ( min of $25k )
5 Years - Fidelity Brokered CD - 4.7% ( min $1k )
5 Years - Vanguard Brokered CD - 4.7% ( min $1k )
5 Years - Popular Direct - 4.6% ( min $10k )
5 Years - Merrick Bank CD - 4.2% ( min of $25k )

Foreign Currency CDs
With the government printing a lot of money, fear of inflation is roaming around. You can put money in foreign currency CDs to protect yourself

TiaaBank Foreign CDs ( min $10000, protected by FDIC ). You can also buy ETFs for the currency you are interested in FXY FXA FXE etc
Commodities (gold/silver) are also known to be safe havens. You can also buy ETFs like GLD SLV PSLV on your favorite trading platform
CoinBase - Crypto Currencies were also known to be a hedge against inflation, but it's too volatile to be for you to have good sleep

Comment on this deal

whttgr - 1 week ago

Guest said
Bitcoin is up as a % higher than real estate Dow Jones Nasdaq s&p us treasuries and junk bonds. Bitcoin is now flirting with $9k and possibly headed for $25k.

If only I had bought in big at 9k...

Guest #0849 - 2 years ago

Thanks for these updates!

Guest #0848 - 5 years ago

Bitcoin is up as a % higher than real estate Dow Jones Nasdaq s&p us treasuries and junk bonds. Bitcoin is now flirting with $9k and possibly headed for $25k.

Guest #0847 - 5 years ago

To the moron who posted this...'Crypto Currencies' and 'How to Make Your Money Grow Safely' do not go together.

A food and his money are soon parted.

Please friends, stick with something safe.

Guest #0846 - 5 years ago

You also missed American Express bank is offering 2.9

Guest #0845 - 5 years ago

We're all in sad shape if we're taking our financial advice from a deal website and the comment section.

Guest #0844 - 5 years ago

Citizens Bank is 2.25% w/ $5K minimum and it took me about 5 min to signup. 'No Fees for Anything'

Guest #0843 - 5 years ago

Buy low sell high! You're welcome

Guest #0842 - 5 years ago

Thanks for this. Keep this updated!

Guest #0841 - 6 years ago

Don't go any longer than 12-14 months now.

Guest #0840 - 6 years ago

I’ve had a CIT account for over a year and recommend them too. They have solid customer service & good rates.

Guest #0839 - 6 years ago

While not great, these CD's do offer you 10-20 times what many of the largest banks offer. Bank of America is pathetic.

Spoofee - 6 years ago

Spoofee.com!

High risk, high reward.
Savings - CDs is no risk, but gives you 2-3% reward

Guest #0837 - 6 years ago

Take all your money out of the bank and go to Vegas. Go to the roulette table and put it all on red. Pays 100% back on your money. When you win, pick up your money and head for the airport and go home immediately..

Guest #0836 - 6 years ago

ge credit union even better

striider - 1 decade ago

The REAL answer

Pay off your highest interest rate loans FIRST, then rebuild your cushion (6months minimum) in one of these interest bearing accounts.

jgombos - 1 decade ago

striider said
This site seems pretty accurate and updated regularly

http://www.ratecatcher.com/

Check out www.bankrate.com - it's quite a bit more comprehensive for comparisons of different financial products.

Folks who fear that the US dollar will tank should consider buying a foreign-denominated CD. Check out http://www.everbank.com/001Currency.aspx The way it works is you buy a CD of another currency with USD. The CD is held in the currency of your choice, and grows in that currency. When you cash out, it's converted back to USD automatically.

striider - 1 decade ago

MadonnaP said
My money is in a very safe hiding place.

When the USA comes tumbling down... I want immediate access to my money in the form of cash morning, noon or night!

Yeah- might as well spend all your money on ammunition, as your money in your mattress will be worthless....except AS a mattress.

This site seems pretty accurate and updated regularly

http://www.ratecatcher.com/

mineralblue - 1 decade ago

Just checked Wilshire Bank... their rate is now 1.75% according to the website.

mineralblue - 1 decade ago

Just contacted Tennessee Commerce Bank - if you didn't get an account yet, they are no longer opening any more 2.3% savings accounts FYI

matt0424 - 1 decade ago

not good....
i would not trust them with 5k.....
stay away.....

eace:

Rockstar - 1 decade ago

Remember Me?

Seltzer said
Hey, just got this flier and thought I would share. Church Development Fund (CDF) is offering 5.15% APY for a 15 month CD or 5.5% APY for 22 month CD, both with a $5k minimum and offer only until July 31. But, it's better than most right now and certainly better than a bank.

Just thought I'd share.

Go to https://cdfonline.org/choose/ for full details

From the website:
"The purchase of CDF securities is subject to risks, which are described in CDF’s Offering Circular. This is neither an offer to sell nor a solicitation of an offer to buy Church Development Fund securities. Such an offer is made only by an Offering Circular and only in those states where the Church Development Fund securities may lawfully be offered or sold. CDF securities are not F.D.I.C. or S.I.P.C. insured nor are they bank deposits."

I live about 20 minutes from this organization, so if I stop by I will let you guys know what' sup. It's just not insured, very sketchy.

Rockstar - 1 decade ago

Remember Me?

Anyone heard of Patelco or had any good/bad experiences with them? I might as well give them $1000 if they're legit.

Seltzer - 1 decade ago

5.15% APY for 15 month CD or 5.5% APY for 22 month $5k minimum until July 31

Hey, just got this flier and thought I would share. Church Development Fund (CDF) is offering 5.15% APY for a 15 month CD or 5.5% APY for 22 month CD, both with a $5k minimum and offer only until July 31. But, it's better than most right now and certainly better than a bank.

Just thought I'd share.

Go to https://cdfonline.org/choose/ for full details

MadonnaP - 1 decade ago

.

My money is in a very safe hiding place.

When the USA comes tumbling down... I want immediate access to my money in the form of cash morning, noon or night!

Liss - 1 decade ago

Moo

If anyone lives in the Central Florida area, this is the best deal around for sure! You get 4.32% on your CHECKING account! You also get all ATM fees refunded.

To qualify, all you need to is:
1) Use e-statements
2) Have at least one direct deposit OR debit
3) Use your debit card (can be used as debit or Visa) 12 times per month.

If you don't do those, you still get 0.25% and free checking!

https://www.fbcrewards.com/index.html

thoreau - 1 decade ago

FDIC insurance has been expanded until Dec 2013
Double checked this on the FDIC website
http://www.fdic.gov/help/faq.html

thegoodword - 1 decade ago

update

ypc77 said
GMAC Bank - http://www.gmacbank.com
Currently, 2.75% for Online Savings Account & 2.25% for Money Market Savings Account
Best of all, it's FDIC Insured.

GMAC is now Ally Bank. They are not always the highest, but they are consistently the highest APR over the year, while other banks change their interest rate often.

As of 06/26/2009

2.00% Variable APY for savings account.

matt0424 - 1 decade ago

i just checked it and it is only 2.21% now. no longer 2.35%

cdg110 - 1 decade ago

Irwin Union Bank, FDIC. 11 Month $20000 CD pays 2.35 % APR and a free 22" LCD TV. Also can get the TV promotion if you open a $5000 checking account for 11 months.
IrwinUnion.com, look for the HD Summer promotion.

smidge1 - 1 decade ago

proud grandma of parker

mattress what mattress, tee hee. i sleep with the cows.

kmcheng - 1 decade ago

stuff the money in your mattress may be better, lol
but remember not to throw it out, or you will be finding it like crazy like the family in Israel's case

elgrangus - 1 decade ago

Broadway Bank went down to 3.5%
Where do you see these rates spoofee?

ypc77 - 1 decade ago

GMAC Bank - http://www.gmacbank.com
Currently, 2.75% for Online Savings Account & 2.25% for Money Market Savings Account
Best of all, it's FDIC Insured.

elgrangus - 1 decade ago

jopoe said
here is where I put my 6-month raining fund. works out really good for the last 8 months.
http://www.aafcu.com/ContactAAFCU/Promotions/MaxChecking.aspx

Does not appear to be FDIC Insured.

shadow0000 - 1 decade ago

Well i put it in a safety place so that no one can stole it.... Just kidding!!! Oh well thank you for your offer for making grow my money in a low interest...

SuperTightWad - 1 decade ago

Ahh, the beauty of the fractional reserve ratio, yet we still don't see anything close to the 9X + 9X*core + 9X*markup%. Even with the monstrous overhead, it seems 50% interest would be fair? Except for the insane inflation that would cause, and the good faith and credit (the basis of our monetary policy) that would destroy. It really is better they use that money to purchase the rest of the world first...

thoreau - 1 decade ago

jopoe said
here is where I put my 6-month raining fund. works out really good for the last 8 months.
http://www.aafcu.com/ContactAAFCU/Promotions/MaxChecking.aspx

Too many requirements, I'm self-employed so I don't have anything to direct deposit. Also no way I'd use my debit card often enough without slipping up regularly.

Thanks Though

Mortiki - 1 decade ago

craptastic, thanks anyway, i'll just stuff it in my mattress

jopoe - 1 decade ago

thoreau said
Anyone have experience with this Broadway Federal, or know of any gotchas with that rate? As sad as it is, that seems like a too good to last kind of rate.

here is where I put my 6-month raining fund. works out really good for the last 8 months.
http://www.aafcu.com/ContactAAFCU/Promotions/MaxChecking.aspx