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29 Best Savings Account Rates of June 2024 (Up to 5.30%)

The best savings rates available today, chosen from a large pool of providers.

Margarette Burnette
By Margarette Burnette 
Edited by Yuliya Goldshteyn

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The best savings account interest rates today hover around 4.5% and 5%. The highest savings rate on this list is currently 5.30%. To compare, the highest interest rates are significantly better than the national average of 0.45%.

Finding one of the best interest rates today for a savings account can mean the difference between your savings account earning a decent chunk of cash or only a few dollars in a year. For example, with an annual percentage yield (APY) of 5%, a balance of $10,000 would earn about $500 after one year. An APY of 0.40% would earn about $40.

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.

APY research methodology: Each weekday, we review account rates on this page to make sure we have the most up-to-date APYs. The APYs shown are current as of the publication date of this page.

APYs shown are current as of June 13, 2024. All other information is current as of June 1, 2024.

Best savings rates of 5% or more

Here are the institutions on this list with APYs of 5% or more.

BrioDirect, 5.30% APY

Ivy Bank, 5.30% APY

TAB Bank, 5.27% APY

Jenius Bank, 5.25% APY

UFB Direct, 5.25% APY

Upgrade, 5.21% APY

Bread Savings, 5.15% APY

Bread Savings says:

All Bread Savings APYs are accurate as of 01/18/2024. APYs are subject to change at any time without notice. Offers apply to personal accounts only. Fees may reduce earnings. For high-yield savings accounts, a minimum of $100 is required and must be deposited in a single transaction. For high-yield savings accounts, the rate may change after the account is opened.

EverBank, 5.05% APY

Popular Direct, 5.15% APY

BMO Alto, 5.10%

CIBC U.S., 5.01% APY

Salem Five Direct, 5.01% APY

CIT Bank, 5.00% APY

Laurel Road, 5.15% APY

LendingClub, 5.00% APY

One, 5.00% APY

Zynlo, 5.00% APY

🤓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

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Best Savings Account Rates of June 2024 (Up to 5.30%)

ELIGIBLE FOR REWARD

Our pick for

Savings Rates

ELIGIBLE FOR $100 IN REWARDS
NerdWallet rating 

4.5

/5
SoFi Checking and Savings
Learn more

at SoFi Bank, N.A., Member FDIC

APY

4.60%

With $0 min. balance for APY

Bonus

$300

Earn up to $300 with direct deposit. Terms apply.

NerdWallet rating 

4.5

/5
Barclays Online Savings Account
Learn more

at Barclays, Member FDIC

APY

4.35%

With $0 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
Marcus by Goldman Sachs Online Savings Account
Learn more

at Goldman Sachs Bank USA, Member FDIC

APY

4.40%

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 

4.0

/5
BrioDirect High-Yield Savings
APY

5.30%

With $25 min. balance for APY

Bonus

N/A

NerdWallet rating 

4.5

/5
EverBank Performance℠ Savings
Learn more

at EverBank, Member FDIC

APY

5.05%

With $0 min. balance for APY

Bonus

N/A

NerdWallet rating 

4.5

/5
Citizens Access Savings
APY

4.50%

With $0.01 min. balance for APY

Bonus

N/A

NerdWallet rating 

4.0

/5
Affirm Money
APY

4.35%

With $0.01 min. balance for APY

Bonus

N/A

NerdWallet rating 

4.5

/5
BMO Alto Online Savings Account
APY

5.10%

With $0 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 

4.0

/5
ConnectOne Bank Connection Plus Savings
APY

4.60%

With $2,500 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
GO2bank™ Savings Account
APY

4.50%

With $0 min. balance for APY

Bonus

N/A

NerdWallet rating 

4.0

/5
Ivy Bank High-Yield Savings Account
APY

5.30%

With $2,500 min. balance for APY

Bonus

N/A

NerdWallet rating 

4.5

/5
Jenius Savings
APY

5.25%

With $0 min. balance for APY

Bonus

N/A

NerdWallet rating 

4.5

/5
Laurel Road High Yield Savings
APY

5.15%

With $0 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
Live Oak Bank High-Yield Online Savings
APY

4.40%

With $0 min. balance for APY

Bonus

N/A

NerdWallet rating 

5.0

/5
One Savings
APY

5.00%

With $5,000 min. balance for APY

Bonus

N/A

NerdWallet rating 

4.5

/5
Popular Direct Savings
APY

5.15%

With $0.01 min. balance for APY

Bonus

N/A

NerdWallet rating 

4.5

/5
Quontic High Yield Savings
Learn more

at Quontic Bank, Member FDIC

APY

4.50%

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
Sallie Mae Bank High-Yield Savings Account
APY

4.50%

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

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
Zynlo Tomorrow Savings Account
APY

5.00%

With $0.01 min. balance for APY

Bonus

N/A

How to choose the best savings accounts

  • Look for savings accounts that offer strong yields. You want one that is well above the national average rate, which is currently only 0.45%. To compare, some of the best savings accounts interest rates today are above 5%.

  • Find a savings account that will not charge you a monthly fee. Many top savings accounts, particularly those available online, have no monthly maintenance fees or minimum deposit requirements.

  • Check to make sure the account is federally insured. This way, your money is protected if the financial institution fails.

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.”

What to know about savings accounts

A savings account is an account at a bank, credit union or nonbank provider that typically earns interest. The money in a savings account is federally insured. It is typically not used for everyday spending, but is a place where your savings can grow over time.

What to know about the best savings rates

The best savings rates can help your bank balance grow faster over time compared to average-rate savings accounts. NerdWallet regularly evaluates online and brick-and-mortar financial institutions to determine the best bank rates from the best savings accounts.

Benefits of the best savings rates

Money in a high interest rate savings account grows quicker. A deposit of $10,000 would earn about $45 after a year in an account with a 0.45% APY, which is close to the national average rate of 0.45%. But that same deposit would earn about $500 in an account with a 5% APY.

How to choose the highest interest rates

Look for accounts that have the highest APY you can earn. Some accounts require deposit minimums to get the best yields while others might charge monthly fees if the balance falls below a certain amount. If possible, choose an account that minimizes charges as fees cancel out the benefits of high interest rates.

» Find high rates across checking, savings and other accounts in NerdWallet's list of high-interest accounts.

Where can I earn the most interest on my money?

Online banks and nonbank providers (often apps that partner with a bank for FDIC coverage) tend to offer higher interest rates than traditional brick-and-mortar banks. Rates can go up or down at any time, however, and some institutions have been lowering their APYs to reflect market conditions. Keep a close eye on NerdWallet's list of the best online savings account interest rates to monitor these changes.

Why you earn interest on savings accounts

You earn interest from a savings account because the institution is paying you to lend it money. Your funds are used in its loans to other customers. Credit unions have a similar process, but they call interest “dividends.”

Last updated on June 13, 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, 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, Bethpage Federal Credit Union, BMO, BMO Alto, Boeing Employees Credit Union, Bread Savings, BrioDirect, Capital One, Carver Federal Savings 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 (formerly TIAA Bank), Fifth Third Bank, First Foundation, First National Bank, First Tech Federal Credit Union, Flagstar Bank, FNBO Direct, 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, NASA Federal Credit Union, Navy Federal Credit Union, NBKC, One, OneUnited Bank, Pentagon Federal Credit Union, PNC, 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 and Zynlo Bank.

Frequently asked questions