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12 Savings Accounts That Earn 4% or More

These are high-yield savings accounts that earn at least 4% APY without a lot of requirements to earn the high rate.

Margarette Burnette
By Margarette Burnette 
Edited by Yuliya Goldshteyn

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Why you can trust NerdWallet: Our writers and editors follow 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.

Savings accounts that earn more than 4% annual percentage yield are high-yield, meaning they help your money grow faster than an average savings account. The products featured on this page are some of the top options that earn APYs of at least 4%. Those rates are among the highest available and many times more than the national average of 0.45%. These products are also federally insured, and you don’t have to jump through hoops to earn the high rate. Check the bottom of the page for more information about how these savings products work.

🤓Nerdy Tip

Today’s high rates may not last forever. Take advantage of them while you can with a federally insured high-yield savings account.

Savings Accounts That Earn 4% or More

ELIGIBLE FOR REWARD

NerdWallet rating 

4.5

/5
Citizens Access Savings
APY

4.50%

With $0.01 min. balance for APY

Bonus

N/A

NerdWallet rating 

4.5

/5
Upgrade Premier Savings
APY

5.21%

With $1,000 min. balance for APY

Bonus

N/A

NerdWallet rating 

4.5

/5
Bask Interest Savings Account
Learn more

at Bask Bank, Member FDIC

APY

5.10%

With $0 min. balance for APY

Bonus

N/A

NerdWallet rating 

4.5

/5
UFB Secure Savings
Learn more

at UFB Direct, Member FDIC

APY

5.25%

With $0 min. balance for APY

Bonus

N/A

NerdWallet rating 

4.5

/5
CIT Bank Platinum Savings
Learn more

at CIT Bank, Member FDIC

APY

5.00%

With $5,000 min. balance for APY

Bonus

N/A

NerdWallet rating 

4.5

/5
Bread Savings™️ High-Yield Savings Account
Learn more

at Bread Savings, Member FDIC

APY

5.15%

With $100 min. balance for APY

Bonus

N/A

NerdWallet rating 

4.5

/5
CIBC Agility™ Savings
APY

5.01%

With $0.01 min. balance for APY

Bonus

N/A

NerdWallet rating 

5.0

/5
First Foundation Bank Online Savings Account
APY

4.90%

With $0.01 min. balance for APY

Bonus

N/A

NerdWallet rating 

4.5

/5
LendingClub High-Yield Savings
APY

5.00%

With $0 min. balance for APY

Bonus

N/A

NerdWallet rating 

4.5

/5
Salem Five Direct eOne Savings
APY

5.01%

With $0.01 min. balance for APY

Bonus

N/A

NerdWallet rating 

4.5

/5
Synchrony Bank High Yield Savings
Learn more

at Synchrony Bank, Member FDIC

APY

4.75%

With $0 min. balance for APY

Bonus

N/A

NerdWallet rating 

4.5

/5
TAB Bank High-Yield Savings Account
APY

5.27%

With $0 min. balance for APY

Bonus

N/A

More about savings accounts that earn 4% APY or more

Can I earn 4% or more on certificates of deposit?

The best certificate of deposit rates are well above 4%, and many of the top CDs have yields that top even the best savings account rates. But CDs typically require you to lock in your money for the length of the CD term. If you withdraw funds early, you could owe an interest penalty. But there is an exception: no-penalty CDs. These certificates let you withdraw your money anytime after a few days. However, their rates tend to be lower than high-yield CDs, and more in line with online savings accounts. Depending on your needs, a savings account may still be the better option.

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How much interest will I get on $10,000 after a year in a high-interest savings account?

If your money is in a high-yield savings account, your balance will grow faster than an account that earns close to the average rate — without any additional effort on your part. With a 4% APY, a savings balance of $10,000 would earn a bit more than $400 after a year. That’s much better than an account with a 0.35% APY, which would earn about $35.

Where can I get 4% interest on my money?

After the recent Fed rate increases, many banks and credit unions have increased the yields on their savings accounts, and many offer rates of 4% or more. See the list above for some options. Read more about the best places to save money and earn interest.

How do I choose the best high-yield savings account?

Along with high rates, look for accounts that don’t charge monthly fees. Some institutions offer savings accounts with no monthly service charges. Others have a monthly fee, but will waive it if you  meet a balance minimum. Keep in mind that the best accounts might not be at a large, brick-and-mortar bank. 

» Looking for more top savings accounts? See NerdWallet’s best high-yield online savings accounts

Are my savings federally insured?

Generally, yes. High-yield savings accounts at banks and credit unions are federally insured up to $250,000 per depositor, per insured institution, per ownership category. Accounts at banks are backed by the Federal Deposit Insurance Corp., while credit union accounts are backed by the National Credit Union Administration. Nonbank providers can partner with chartered banks for insurance. If the financial institution fails, federal insurance protects your money to keep it safe and accessible. 

» Dig deeper. Read about FDIC and NCUA insurance for deposit accounts.

What’s the difference when NerdWallet notes “Member FDIC” vs. “funds insured by FDIC” on savings accounts?

When we describe a savings account that is offered by a bank, we note “Member FDIC,” since the bank is a member of the Federal Deposit Insurance Corp. and the account is federally insured. If a financial technology company — not a bank — offers a savings account, it typically partners with a bank that is an FDIC member to hold the funds so deposits can be insured. In those cases, we note “funds insured by the FDIC.” Savings accounts at credit unions are federally insured by the National Credit Union Administration, so we note “funds insured by the NCUA.”

Last updated on February 12, 2024

Methodology

We took a close look at over 90 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, Alaska USA Federal Credit Union, 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, Bank of the West, Bank5 Connect, Bank7, Barclays, Bask Bank, BMO, Boeing Employees Credit Union, Bread Savings, BrioDirect, Capital One, Charles Schwab Bank, Chase, Chime, CIBC U.S., CIT Bank, Citibank, Citizens, Citizens Bank, City First Bank, Commerce Bank, Community First Credit Union of Florida, ConnectOne Bank, Connexus Credit Union, Consumers Credit Union, Current, Delta Community Credit Union, Discover Bank, E*TRADE, Fifth Third Bank, First Foundation, First National Bank, First Republic Bank, First Tech Federal Credit Union, Flagstar Bank, FNBO Direct, GO2bank, Golden 1 Credit Union, Hope Credit Union, Huntington Bank, Industrial Bank, Ivy Bank, Ivy Bank, KeyBank, LendingClub Bank, Liberty Bank, Live Oak Bank, M&T Bank, Marcus by Goldman Sachs, Navy Federal Credit Union, NBKC, One, OneUnited Bank, Pentagon Federal Credit Union, PNC, Popular Direct, PurePoint Financial, Quontic Bank, Regions Bank, Revolut, Salem Five Direct, Sallie Mae Bank, Santander Bank, Scarlet, SchoolsFirst Federal Credit Union, Security Service 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, TIAA Bank, Truist Bank, U.S. Bank, UFB Direct, Union Bank, Upgrade, USAA Bank, Varo, Vio Bank, Wells Fargo and Zynlo Bank.