Best High-Interest Accounts of July 2025 (up to 5.12%)
Our list of the best high-interest accounts.
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Strict editorial guidelines to ensure fairness and accuracy in our coverage to help you choose the financial accounts that work best for you. See our criteria for evaluating banks and credit unions.
More than 100 financial institutions surveyed by our team of experts.
More than 50 data points considered for each bank, credit union and banking technology firm (or neobank) to be eligible for our roundups. For this roundup of the best high-interest accounts, three or more data points were considered per account.
High-interest deposit accounts beat regular bank accounts when it comes to the best places for your money, helping your balance grow faster. These savings and checking accounts, CDs and other deposit products provide a safe place for your cash while earning a competitive yield.
These accounts usually have online access and many don’t charge a monthly fee. Note that some have transaction or balance requirements to earn the best rates. High-yield checking accounts, for example, might require you to make a certain number of debit card transactions each month. If you can meet the conditions, however, they're worth a look. And while some accounts are offered by banks, others are offered by credit unions or nonbanks (providers that partner with a bank to offer deposit insurance).
NerdWallet did extensive, independent research on dozens of account providers to identify the best options. Read on for more details about NerdWallet’s best high-interest accounts.
+ Summary of best high-interest accounts
Best accounts for CDs
First Internet Bank CDs.
NASA Federal Credit Union Share Certificates.
Popular Direct CDs.
Best accounts for checking
All America Bank Ultimate Rewards Checking.
Climate First Bank Impact Checking.
Consumers Credit Union Free Rewards Checking.
Hope Credit Union Rewards Checking.
Best accounts for savings
Axos ONE Savings.
Newtek Personal High Yield Savings.
Zynlo Tomorrow Savings.
Best High-Interest Accounts of July 2025 (up to 5.12%)
| Bank/institution | NerdWallet rating | Minimum balance | APY | Learn more |
|---|---|---|---|---|
 Consumers Credit Union Free Rewards Checking Learn moreon partner's site at Consumers Credit Union, Federally insured by NCUA | 4.7/5 | $0 Federally insured by NCUA | 5.00% With $0 min. balance for APY | Learn moreon partner's site at Consumers Credit Union, Federally insured by NCUA |
4.7/5 | $1,500 Member FDIC | 4.66% With $1,500 min. balance for APY | Learn moreon partner's site at Axos Bank®, Member FDIC | |
5.0/5 | $1,000 Member FDIC | 1-year APY 4.19% 3-year APY 3.97% 5-year APY 3.97% | ||
5.0/5 | $0 Member FDIC | 4.35% With $0.01 min. balance for APY | ||
4.2/5 | $10,000 Member FDIC | 1-year APY 4.30% 3-year APY 4.15% 5-year APY 4.20% | ||
4.8/5 | $0 Member FDIC | 4.10% With $0 min. balance for APY | ||
4.7/5 | $0 Federally insured by NCUA | 5.12% With $0 min. balance for APY | ||
4.6/5 | $0 Member FDIC | 4.01% With $0 min. balance for APY | ||
5.0/5 | $1,000 Federally insured by NCUA | 1-year APY 4.10% 3-year APY 4.05% 5-year APY 4.10% | ||
5.0/5 | $0 Deposits are FDIC Insured | 4.35% With $0.01 min. balance for APY |
Our pick for
Checking
APY
5.00%
With $0 min. balance for APY
Bonus
N/A
Monthly fee
$0
Overdraft star rating
3.3/5
Our Take
You can earn 3.00% APY on balances up to $10,000 in this high-yield checking account at Consumers Credit Union if you also make 12 monthly debit card purchases, have monthly electronic transactions of at least $500 (this could include direct deposits, mobile check deposits or ACH bank transfers) and receive e-statements.
You can earn even more if you use a Consumers Credit Union credit card, too. Meet the requirements above and also make $500 in credit card purchases, and you earn 4.00% APY on balances up to $10,000. Make an additional $500 in credit card purchases, and the APY on balances up to $10,000 is 5.00%.
If you meet monthly requirements but have more than $10,000 in your account, the excess earns 0.10% APY or 0.20% APY, depending on the amount. If you don’t meet monthly requirements, your money earns 0.01% APY on all balances.
APY
4.10%
With $0 min. balance for APY
Bonus
N/A
Monthly fee
$0
Overdraft star rating
2.5/5
Our Take
The Ultimate Rewards Checking account from All America Bank offers a competitive 4.10% APY on balances up to $15,000 each month and 0.50% APY for balances over that amount. Other perks of this high-yield checking account include up to $25 in foreign ATM fee refunds each month, no minimum balance requirement and no monthly fee. Opening the account online requires a $500 minimum deposit.
The rewards are solid, but here's the catch: To take advantage of the high rate, you’ll need to receive electronic statements and make at least 10 debit card transactions each month. Otherwise, the APY is 0.25% and paper statements cost $3 per month. Note that 10 online bill pay transactions are included for free each month, and each additional transaction costs $0.50.
APY
5.12%
With $0 min. balance for APY
Bonus
N/A
Monthly fee
$0
Overdraft star rating
3.1/5
Our Take
Hope Credit Union’s checking account pays 5.12% APY on balances up to $10,000 each month that you meet a few requirements: Have a direct deposit to or an automatic payment out of your account, make at least 12 debit card transactions, opt into e-statements and log into your account online or on the mobile app at least once. If you don’t meet the requirements, you’ll earn 0.10% APY on your balance. It also offers up to $20 in ATM fee reimbursements. To join Hope Credit Union, you can pay a $10 membership fee, $5 of which goes to an affiliated nonprofit.
APY
4.01%
With $0 min. balance for APY
Bonus
N/A
Monthly fee
$0
Overdraft star rating
1.9/5
Our Take
Climate First Bank’s Impact Checking has no monthly fee and offers a super competitive interest rate on any balance, but you’ll need to meet one requirement to earn its high APY: Within the first 90 days after opening the account, you must set up a monthly recurring direct deposit of at least $500. To open the account, you’ll need to make a minimum deposit of $50. Even with those two steps, the interest rate would be well worth the effort; other checking accounts have stiff requirements to avoid monthly fees and don’t pay interest.
Our pick for
Savings
APY
4.66%
With $1,500 min. balance for APY
Bonus
N/A
Our Take
The Axos ONE account is a combined checking and savings account that pays competitive interest rates — as long as you meet a couple requirements. There are no monthly fees and no minimum deposit requirement to open, but to earn the savings account’s 4.66% APY, you’ll need to receive at least $1,500 in direct deposits by the 25th each month plus maintain a minimum $1,500 average daily balance, or receive at least $5,000 in qualifying deposits (external transfers or checks) by the 25th each month plus maintain a minimum $5,000 average daily balance. Without meeting the requirements, the savings account earns only 1.00%.
APY
4.35%
With $0.01 min. balance for APY
Bonus
N/A
Our Take
There’s no minimum deposit requirement to open the Newtek Personal High Yield Savings account, and you’ll need just a penny to start earning interest. You’ll want to sock away more, though, because the account’s interest rate is highly competitive at 4.35% APY. There are no monthly fees for this account, which earned five stars in our rating. Note that the account is limited to six withdrawals per statement cycle.
APY
4.35%
With $0.01 min. balance for APY
Bonus
N/A
Our Take
The Zynlo Tomorrow Savings account has no deposit requirement to open, and you need just a penny to start earning its excellent 4.35% APY. There is no monthly fee or minimum balance requirement for this account, which earned five stars in our rating. Zynlo is FDIC-insured and is a division of PeoplesBank.
Our pick for
CDs
Minimum deposit
$1,000
Member FDIC
APY
1-year APY 4.19%
3-year APY 3.97%
5-year APY 3.97%
Our Take
Online-only First Internet Bank offers high rates on its CD accounts, with terms as short as three months to as long as five years. You’ll need at least $1,000 to open an account; other online banks don’t require a minimum opening deposit, which allows you to lock in an interest rate on whatever amount you can put away.
Minimum deposit
$10,000
Member FDIC
APY
1-year APY 4.30%
3-year APY 4.15%
5-year APY 4.20%
Our Take
Popular Direct offers some of the most competitive CD rates available. Term lengths range from three months to five years, with interest compounded daily. The required minimum deposit of $10,000 is quite steep, though; some banks only require a deposit of $500. But the interest rates could be well worth it if you won’t soon need access to a chunk of cash.
Minimum deposit
$1,000
Federally insured by NCUA
APY
1-year APY 4.10%
3-year APY 4.05%
5-year APY 4.10%
Our Take
Anyone can become a member of NASA Federal Credit Union, and its excellent share certificate rates could make it worthwhile to join. You’ll need to deposit at least $1,000 to open an account, which is comparable to the minimum requirement at other credit unions. Terms from six months to five years are available.
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Nerdy Tip
The Fed hasn’t changed its benchmark interest rate this year. This means that excellent interest rates are still available on savings accounts and CDs.
Why choose a high-interest account?
Your money can grow faster than in a standard account. This is especially ideal for building a cash cushion, say, for an emergency fund or holiday savings goal. The national average for savings accounts is 0.38%. If you put your money in a high-yield account that earns around 5%, it's earning much more than the national average, with little additional effort on your part. The same holds for CDs.
What to look for in a high-interest account
Search for accounts that have competitive rates and low fees. You don’t want to pay a monthly maintenance charge, because that would likely cost you more than what you would earn, even with a strong interest rate. You may also want to look for extra perks, such as checking accounts that come with ATM fee refunds (in case you’re charged by ATM owners for using out-of-network ATMs), and savings accounts with tools and calculators that make automatic savings deposits easy. Along with stronger yields, the high-interest accounts tend to offer more perks than standard bank accounts.
» Ready to explore more options? Check out our lists of the best high-interest online savings accounts and best checking accounts for this month.
How often do high interest account rates change?
It depends on the type of account. Savings accounts typically have variable rates that can theoretically change at any time. CDs, on the other hand, typically offer fixed rates for a certain term length. The institutions on the list have consistently had some of the best interest rates, whether variable or fixed.
To find out how to get the best return for your money, check out NerdWallet’s lists of the best savings rates and best CD rates on a regular basis.
Money market accounts and cash management accounts are banking alternatives that also have variable rates, and sometimes those rates are competitive with checking, savings and CDs. Read our primers on money market accounts and cash management accounts to learn more about those products.
» Want to learn more? Read NerdWallet’s picks for the best money market account and best cash management account options.
Frequently asked questions about high-interest bank accounts
What is a high-interest account?
High-interest accounts are deposit accounts that earn an annual percentage yield, or APY, that is much higher than the national average. For example, the national average for savings accounts is 0.42%, and the best high-interest savings accounts have yields that are currently many times that amount.
Are high-interest bank accounts safe?
High-interest bank accounts are generally safe because most are federally insured up to $250,000 per depositor, through the Federal Deposit Insurance Corp. for banks and the National Credit Union Administration for credit unions. With an insured account, if a bank or credit union fails and goes out of business, you would still be able to access your money, up to the insured amount. All the accounts on this list are insured.
Do all high-interest accounts have high minimum deposit requirements?
No. Some accounts have opening deposit minimums, but many do not. You will want to look at the account’s individual requirements before applying to open one. It’s worth noting, however, that interest is calculated as a percentage of the bank balance, so the balance needs to be above zero to earn a return. Use NerdWallet’s savings calculator to figure your potential earnings.
What’s the difference between a high-interest account and an investment account?
High-interest deposit accounts are federally insured accounts offered by banks and credit unions (and sometimes nonbank providers). They are safe places to put your money that earn an established rate of return. However, that return is often less than you might earn over time if you put your money in a riskier investment vehicle, such as stocks and bonds. With investments, you can earn a better yield over the long term, but there is also a risk that your account could lose value.
Last updated on July 1, 2025
Methodology
We took a close look at over 100 financial institutions and financial service providers, including the largest U.S. banks based on assets, internet search traffic and other factors; the nation’s largest credit unions, based on assets and membership; and other notable and/or emerging players in the industry. We rated them on criteria including annual percentage yields, minimum balances, fees, digital experience and more.
Financial institutions and providers surveyed are: Affirm, All America Bank, Alliant Credit Union, Ally Bank, Amalgamated Bank, America First Credit Union, American Express National Bank, Andrews Federal Credit Union, Associated Bank, Axos Bank, Bank of America, Bank5 Connect, Barclays, Bask Bank, BMO, BMO Alto, Boeing Employees Credit Union, Bread Savings®, BrioDirect, Capital One, Carver Federal Savings Bank, CFG Bank, Charles Schwab Bank, Chase, Chime, CIBC U.S., CIT Bank, Citibank, Citizens, Citizens Bank, City First Bank, Climate First Bank, Commerce Bank, Community First Credit Union of Florida, ConnectOne Bank, Connexus Credit Union, Consumers Credit Union, Current, Customers Bank, Delta Community Credit Union, Discover® Bank, E*TRADE, EverBank, Fifth Third Bank, First Foundation, First Internet Bank, First National Bank, First Tech Federal Credit Union, Flagstar Bank, FNBO Direct, Forbright Bank, FourLeaf Federal Credit Union, Global Credit Union, GO2bank, Golden 1 Credit Union, Greenwood, Hope Credit Union, Huntington Bank, Industrial Bank, Ivy Bank, Jenius Bank, KeyBank, Lake Michigan Credit Union, Laurel Road Bank, LendingClub Bank, Liberty Bank, Live Oak Bank, M&T Bank, Marcus by Goldman Sachs, My Banking Direct, NASA Federal Credit Union, Navy Federal Credit Union, NBKC, Newtek Bank, OMB Bank, One, OneUnited Bank, Pentagon Federal Credit Union, PNC, Poppy Bank, Popular Direct, Quontic Bank, Regions Bank, Revolut, Salem Five Direct, Sallie Mae Bank, Santander Bank, SchoolsFirst Federal Credit Union, Security Service Federal Credit Union, Securityplus Federal Credit Union, Self-Help Credit Union, Service Credit Union, SoFi, State Employees’ Credit Union of North Carolina, Suncoast Credit Union, Synchrony Bank, TAB Bank, TD Bank, Truist Bank, U.S. Bank, UFB Direct, Upgrade, USAA Bank, Varo, Vio Bank, Wells Fargo, Western Alliance Bank and Zynlo Bank.
NerdWallet's Best High-Interest Accounts of July 2025 (up to 5.12%)
- First Internet Bank CD: Best for CDs
- Consumers Credit Union Free Rewards Checking: Best for Checking
- Newtek Bank Personal High-Yield Savings: Best for Savings
- Axos ONE® Savings: Best for Savings
- Popular Direct CD: Best for CDs
- All America Bank Ultimate Rewards Checking: Best for Checking
- HOPE Rewards Checking: Best for Checking
- Climate First Bank Impact Checking: Best for Checking
- NASA Federal Credit Union Share Certificate: Best for CDs
- Zynlo Tomorrow Savings Account: Best for Savings