When the economy looks uncertain, you want to protect your money while still earning some interest. Traditional savings accounts are great for keeping your money safe, but they don’t offer enough bang for your buck.
That’s where high-yield savings accounts (HYSAs) come in. They give you a safe place to park your money, earn solid interest, and keep access to it at any time.
Learn why they’re the best place to keep your money when you’re worried about an economic downturn.
Safety first: FDIC insurance protects your cash
Just like traditional bank accounts, HYSAs are FDIC insured up to $250,000 per depositor, per bank. That means up to $250,000 of your money is protected, even if your bank fails. You won’t have to worry about market swings or losing your savings overnight.
Our Picks for the Best High-Yield Savings Accounts of 2025
Barclays Tiered Savings
Member FDIC.
APY
See Terms
Rate info
Balances less than $250,000 earn See Terms, and balances greater than $250,000 earn See Terms.
Member FDIC.
See Terms
Rate info
Balances less than $250,000 earn See Terms, and balances greater than $250,000 earn See Terms.
$0
SoFi Checking and Savings
Member FDIC.
APY
up to 3.80%
Rate info
SoFi members who enroll in SoFi Plus with Eligible Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or SoFi members with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. If you have satisfied Eligible Direct Deposit requirements for our highest APY but do not see 3.80% APY on your APY Details page the day after your Eligible Direct Deposit arrives, please contact us at 855-456-7634. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. See the SoFi Plus Terms and Conditions at https://www.sofi.com/terms-of-use/#plus.
Member FDIC.
up to 3.80%
Rate info
SoFi members who enroll in SoFi Plus with Eligible Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or SoFi members with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. If you have satisfied Eligible Direct Deposit requirements for our highest APY but do not see 3.80% APY on your APY Details page the day after your Eligible Direct Deposit arrives, please contact us at 855-456-7634. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. See the SoFi Plus Terms and Conditions at https://www.sofi.com/terms-of-use/#plus.
$0
Capital One 360 Performance Savings
Member FDIC.
APY
3.60%
Rate info
See Capital One website for most up-to-date rates. Advertised Annual Percentage Yield (APY) is variable and accurate as of April 8, 2025. Rates are subject to change at any time before or after account opening.
Member FDIC.
3.60%
Rate info
See Capital One website for most up-to-date rates. Advertised Annual Percentage Yield (APY) is variable and accurate as of April 8, 2025. Rates are subject to change at any time before or after account opening.
$0
So if safety is your top concern, a high-yield savings account is just as effective as a traditional bank account — with some additional perks.
Higher returns than traditional accounts
Traditional savings accounts pay next to nothing — the national average savings account APY is just 0.41%, according to the FDIC.
Easy access without penalties
HYSAs let you move money in and out whenever you want — no waiting periods and no early withdrawal fees. That makes them ideal for emergency funds or money you might need in the near future.
In a recession, cash flow matters — you don’t want your money tied up in investments if you lose your job or have unexpected bills. With an HYSA, your money stays liquid, offering peace of mind.
A smart move in any economy
Recession or no, putting your money in an HYSA still makes sense. You’ll earn more interest and avoid fees, all at zero risk to you. And you’ll always have money on hand for what comes next — good or bad.
Don’t wait until a downturn hits. Learn more about our favorite high-yield savings accounts available today.
