What Is Personal FinanceA high-yield savings account pays a meaningfully higher rate than the near-zero rate most brick-and-mortar banks offer, while keeping your money fully accessible. None of these accounts lock your money in the way a certificate of deposit does.
| Provider | APY | Min. deposit | Fee | Visit site |
|---|---|---|---|---|
| Ally Bank | 3.00% APY | $0 | $0 monthly fee | Visit site |
| Marcus by Goldman Sachs | 3.40% APY | $0 | $0 monthly fee | Visit site |
| SoFi | 3.10% APY with direct deposit (lower without) | $0 | $0 monthly fee | Visit site |
| American Express High Yield Savings | About 3.00% APY | $0 | $0 monthly fee | Visit site |
| Capital One 360 Performance Savings | Around 3.00% to 4.00% APY (sources disagree) | $0 | $0 monthly fee | Visit site |
How to read this table
- The rate is variable. Every provider here changes its APY from time to time, even after you open the account. The number you see today is a snapshot, not a promise.
- No minimum deposit doesn't mean no strategy. These accounts work well for an emergency fund or short-term savings goal, not for money you plan to invest for growth over many years.
- A slightly lower rate at a bank you already trust still makes sense sometimes. Moving money between banks takes a few days to clear. Weigh the rate difference against the hassle for your specific amount.
A data note worth flagging
Discover's old online savings account now redirects to Capital One's site, following Capital One's acquisition of Discover. Several rate aggregators showed conflicting numbers for Capital One 360 Performance Savings in the same week, likely because the official page loads its rate dynamically. Confirm the current number directly on the provider's site before opening an account.
Nothing here recommends one specific bank. None of these links are affiliate links. They go straight to each provider's own site.