Best High-Yield Savings Accounts for June 2025: Up to 5% APY
If you’re looking for the best high-yield savings accounts that can grow your savings. These are perfect to give you up to 5% annual percentage yield. Today’s best rates differ from last month’s, so we are giving you fresh updates on these rates.
Best High-Yield Savings Accounts for June 2025
High-yield savings accounts offer a much higher return on your savings compared to regular savings accounts.
Today’s best high-yield savings account rates are Varo Bank with rates of 5%, Fitness Bank at 5%, Axos Bank Savings offering 4.66%, PiBank at 4.60%, and Lending Club with 4.40%
All ranking rates for these high-yield savings accounts are updated daily. Last update on June 20th, 2025
What is a high-yield savings account?
A high-yield savings account (HYSA) is a type of federally insured savings account that offers a higher return on your savings compared to traditional savings accounts. They can earn up to 5% annual percentage yield (APY) with daily compound interest compared to the average rate of 0.38%.
Best High-Yield Savings Accounts
Here are the top High-yield savings accounts for the month, ranked in order of highest paying rates.
1. Varo Bank
Varo Bank 5% AYP Get your money working harder for you. Get a 5% APY on $5.000 and 2.5% on lower amounts. This savings account is good for people with high savings goals. To qualify for more growth, it’s recommended that you maintain $1,000 on average per month. |
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2. Adelfi
Adelfi 5% APY There is a minimum opening fee of $25 No monthly maintenance fees. You get 6 free monthly withdrawals from ATMs. For a limited time, members can earn 5% APY on their savings. You can access your account on the go from anywhere, as Adelfi is a digital platform |
3. FitnessBank
FitnessBank 5% APY on Savings, 5.25% on Checking  You need a minimum opening balance of $100 No monthly fees No ATM card is issued to account holders They offer apps like Fitbit and Apple to track steps that you can earn and redeem points No physical location, banking is available only online Perfect for individuals who work out a lot, as it tracks steps and rewards its users with higher rates based on the number of steps accumulated. |
4. Axos
Axos Bank 4.66% APY  No monthly maintenance fee No minimum balance requirement to open an account To qualify for 4.66% APY, your monthly direct deposit must be at least $1500 in the Axos ONE savings Overall, this is one of the best high-yield savings accounts because it’s perfect for medium and average savers. |
5. PiBank
PiBank 4.60% APY  FDIC-approved bank No monthly fees No minimum opening fees Easy sign-up process, available anywhere on the mobile app They offer priority customer support A trusted brand of Intercredit Bank, a Miami-based financial Institution |
6. LendingClub
LendingClub Level Up Savings 4.40% APY  There is no minimum balance or monthly fee. The total direct deposit amount of $250 monthly gets you a 4-40% annual percentage yield. This is the best High-yield savings account for people who are looking for high rates with a lower monthly income. |
7. EverBank
EverBank 4.30% APY There is no minimum opening requirement No monthly maintenance fee EverBank is FDIC-insured and approved Interests are compounded daily This High-yield savings account earns you 4.30% APY |
8. Forbright
Forbright Bank growth savings 4.25% APY Forbright Bank is among the best high-yield savings account that grows your money annually. There are no monthly fees, no minimum deposit amount, and no hidden fees. Interest is compounded daily. Their savings calculator makes it easy for you to understand how much interest you will earn over a set years. |
9. CitiBank
Citibank Platinum Savings 4.00% APY  Citibank undoubtedly offers one of the best high-yield savings accounts. They have a 4% APY rate on balances of $5,000 and more; balances below that attract a rate of 0.25%. There is a $100 opening deposit required. Citibank is trusted by Americans and is a part of the First Citizens Bank with a long-standing reputation of over 125 years. |
10. Synchrony
Synchrony Bank high yield savings 3.80% APY  Synchrony offers a 3.80% APY and is considered among the best high-yield savings accounts. There is no minimum opening balance. No monthly fees. Compared to the APY rates of Chase and Bank of America, Synchrony gives a much higher rate. |
11. Discover Online Saving
Discover® Online Savings 3.60% APY Grow your money with a Discover high-yield savings account with a 3.6% annual percentage yield rate. There is a $0 monthly fee. No minimum deposit is required. |
12. Capital One
Capital One 360 Performance Savings™ 3.60% APY This high-yield savings account by Capital One offers no monthly fees. You can bank on the go from anywhere. There is no minimum opening balance. They have good customer service support that helps with your account 24/7 |
Best high-yield savings accounts
We’ve ranked the best high-yield savings accounts from the highest APY to the lowest. There are also monthly fees for each, and links to their websites. This list gives you
| Financial Institution | APY | Minimum to Open | Website |
| Varo Bank | 5.00% | Any amount | Varo Bank |
| AdelFi | 5.00% | $25 | AdelFi |
| Fitness Bank | 5.00% | $100 | Fitness Bank |
| Axos Bank | 4.66% | No minimum | Axos |
| LendingClub | 4.40%* | No minimum | LendingClub |
| Newtek Bank | 4.35% | No minimum | Newtek |
| Zynlo Bank | 4.35% | $10 | Zynlo |
| BrioDirect | 4.30% | $5,000 | BrioDirect |
| My Banking Direct | 4.30% | $500 | My Banking Direct |
| Santander Bank | 4.30% | $500 | Santander |
| Bread Savings | 4.30% | $100 | Bread Savings |
| EverBank | 4.30% | No minimum | EverBank |
| Western Alliance | 4.30% | $500 | Western Alliance |
| TAB Bank | 4.26% | No minimum | TAB Bank |
| Forbright Bank | 4.25% | No minimum | Forbright |
| Bask Bank | 4.20% | No minimum | Bask Bank |
| Jenius Bank | 4.20% | No minimum | Jenius Bank |
| Popular Direct | 4.05% | $100 | Popular Direct |
| Upgrade | 4.02% | No minimum | Upgrade |
| Salem Five Direct | 4.01% | $10 | Salem Five |
| UFB Direct | 4.01% | No minimum | UFB Direct |
| CIT Bank | 4.00% | $100 | CIT Bank |
| E*TRADE | 4.00% | No minimum | E*TRADE |
| Barclays | 3.90% | No minimum | Barclays |
| Quontic Bank | 3.85% | $100 | Quontic |
| SoFi | 3.80% | No minimum | SoFi |
| Synchrony Bank | 3.80% | No minimum | Synchrony |
| Citizens | 3.70% | $0.01 | Citizens Bank |
| Marcus by Goldman Sachs | 3.65% | No minimum | Marcus |
| Capital One 360 | 3.60% | No minimum | Capital One |
| Discover® Bank | 3.60% | No minimum | Discover |
| American Express | 3.60% | No minimum | Amex Savings |
| Citibank | 3.60% | No minimum | Citibank |
| BMO Alto | 3.60% | No minimum | BMO Alto |
FAQ: Best High-Yield Savings Accounts
Are High-Yield Savings Accounts Safe?
Yes, HYSA is federally insured by the FDIC and secures up to $250,000 in savings.
Most of these bank accounts are insured by the FDIC, and credit union accounts are covered by the NCUA. In simple terms, the government steps in to make sure your money stays safe and you can still get to it.
Do I have to pay taxes on my high-yield savings account?
Yes, the interest you earn on your savings account is usually taxable. Each State has different tax laws and exempt. At the beginning of the year, your banking institution will send you a form, the 1099-INT, which will report if you earn over $10 in interest for the previous year.
How often can I take money out of a high-yield savings account?
Financial institutions usually implement a monthly withdrawal limit of up to six. Withdrawing money via ATM more than the amount allotted by the bank’s policy, then you will pay withdrawal fees. This will be reflected on your savings account’s monthly statement.
How to open a High-Yield Savings Account?
Most high-yield savings accounts can be opened through the financial institution’s online portal. You will need a valid ID, your Social Security Number, Name, and address.
After you have chosen the best financial entity, filled out their online application, and uploaded your documents, you will be required to fund your account. Depending on the institution you choose, you may need to meet their direct deposit monthly balance to qualify for their APY.
How much will $5,000 make in a high-yield savings account?
If you are getting a 5% APY rate on $5000, it means you will earn about $200 on your money after a year. Here is an example of only the initial deposit amount. If you add monthly contributions, you expect to earn money as your money compounds interest.
How do I choose the best high-interest savings accounts?
Choosing the best High-yield savings accounts is one with high interest rates but zero dollars in monthly fees. We’ve listed a couple of institutions having no monthly maintenance or service fees. These are the advantages of having a high-yield savings account.
High-yield savings account terminology
HYSA: This acronym stands for “High-Yield Savings Account,” A type of federal savings account with higher compound interest rates than traditional savings accounts.
APY: This acronym stands for “ Annual Percentage Yield” and refers to the amount of compound interest on a savings account at the end of the year.
FDIC: Federal Deposit Insurance Corporation is a US-based government agency that protects savings deposits, examines, and supervises financial institutions offering insurance to protect account holders banking with the institution.
Best High-Yield Savings Accounts Wrap Up
We have rounded up a list of the best high-yield savings accounts for this month. Take full advantage of these offers so that by the end of the calendar year, your bank account will grow.
Remember that some of these are only limited-time offers, and you could receive up to 5% APY on a few of them. Most HYSA offers an average of 4% APY, which is still better than a regular savings account.
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