The best high-yield savings account rate from a nationally available institution is 5.50% APY available from Pibank. That's nearly 12 times the FDIC's national average for savings accounts of 0.46% APY. It's also just one of 15 or more top rates you can find in our daily ranking of the best savings accounts.
Who can benefit from a high-yield savings account?
Anyone with surplus savings in the bank can benefit from a high-yield savings account. If you have more money in the bank than you need to hold in your checking account, high-yield savings accounts offer a way to sock some of those funds away to earn an especially high annual percentage yield (APY).
How do I choose the best savings account?
Savers looking for the best savings accounts should follow two principles: Don’t be turned off by a bank with a high yield just because you’ve never heard their name before—but do your due diligence before signing up for an account. Many online-only banks are divisions or subsidiaries of larger institutions, often traditional banks.
