If you have $10,000 sitting in a checking account or a low-interest savings account, your money could be working a lot harder. Right now, high-yield savings accounts (HYSAs) are offering some of the best rates we’ve seen in years.
Here’s what you could be earning right now, and why an HYSA might be the smartest place to stash your savings.
HYSAs are still paying big
As of mid-April 2025, some of our favorite HYSAs are offering up to 4.40% APY. That means if you put $10,000 into one of these accounts today, you could earn around $440 in interest over the next year — with no risk and full access to your money.
Most of these accounts are also fee-free and don’t require a huge opening deposit. That means every dollar you add starts earning interest right away.
Our Picks for the Best High-Yield Savings Accounts of 2025
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American Express® High Yield Savings Account Member FDIC. APY 3.70%
Rate info
Member FDIC.
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3.70%
Rate info |
$0 |
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CIT Platinum Savings Member FDIC. APY 4.10% APY for balances of $5,000 or more
Rate info Min. to earn $100 to open account, $5,000+ for max APY
Member FDIC.
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4.10% APY for balances of $5,000 or more
Rate info |
$100 to open account, $5,000+ for max APY |
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Barclays Tiered Savings Member FDIC. APY 4.10%
Rate info
Member FDIC.
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4.10%
Rate info |
$0 |
Why HYSAs are a smart choice
Unlike some other savings options, like certificates of deposit, HYSAs keep your money accessible. You can deposit, withdraw, and move your cash as needed with no penalties and no waiting periods. That flexibility makes them a great fit for:
- Emergency funds
- Vacation savings
- Other large upcoming purchases
And HYSAs offer all the same features as regular accounts from traditional banks. No need to stick with a big-name bank that is only offering a 0.01% APY.
How to make the most of your HYSA earnings
Opening an HYSA is only the first step. With a couple of smart habits, you can grow your savings even faster.
Next, consider setting up automatic transfers from your checking account to your HYSA. It’s an easy way to grow your savings without thinking about it. Even small contributions can add up over time, especially with compound interest. For example, starting at $0 and contributing just $25 a week with an APY of 4.40% would earn you nearly $800 in interest over five years — and more than $3,300 over 10 years.
Then, try to keep your money parked in the account as long as you can. The more time it has to earn interest, the more you’ll benefit from compounding. You can even move some of your current holdings into an HYSA with no linked checking account, reducing the temptation to withdraw and helping you keep your money growing.
Your money deserves better
Moving your money to an HYSA takes just a few minutes — and the payoff can be hundreds of dollars per year.
Whether you’re building an emergency fund or saving up for a big purchase, an HYSA gives you the best of both worlds: strong returns and total control.