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Online banks are increasing interest rates on savings accounts by raising their rates. UFB Direct, Bread Savings and LendingClub offer savings accounts that pay 2.85% APY, or more.
The best savings accountsAnd Guide to the best high-yield savings accountsIf you are looking for bank accounts that offer unique perks and features, these can be excellent starting points. This list is best for those who prioritize the highest rates.
What are today’s interest rates for savings accounts?
The FDIC monitors the national interest rates of bank accounts that earn interest. The current average interest rate for savings accounts is 0.17 APY.
To keep current with the rate changes at financial institutions, we’ve checked over 12 of them. We have accounts that offer higher interest rates than the average national rate, as online banks tend to offer high-yield accounts.
Right now, the highest-yielding savings accounts offer a 3.01% annual percentage yield. Remember that interest rates can change. Savings accounts can have variable interest rates which means they can fluctuate at any moment.
Federal Reserve The federal funds rate was increasedThis has happened several times in 2018. Therefore, savings interest rates will continue to rise throughout 2022.
The October 10, 2022, date for the highest savings rates is October 10, 2022
Editor’s rating
Register an account with at minimum $100
Editor’s rating
Register an account with at minimum $100
Editor’s rating
Register an account with at minimum $500
Editor’s rating
Editor’s rating
You must have a minimum balance of $0.01
Editor’s rating
Register an account with at minimum $100
Editor’s rating
Personal Capital advisory clients are required to earn 2.70% annual percentage yield.
Editor’s rating
Editor’s rating
Interest rates on savings accounts at the best possible rates
UFB Elite Savings: Up to 3.01% APY
Annual Percentage Yield
Up to 3.01% APY
Minimum Deposit Amount
$0
Annual Percentage Yoield (APY).
Up to 3.01% APY
Minimum Deposit Amount
$0
Deposit Details
Annual Percentage Yield
Up to 3.01% APY
Minimum Deposit Amount
$0
Pros & Cons
Highlights
UFB Elite Savings could be worthwhile if you’d like easy access to your account — the savings account comes with an ATM card. UFB Direct does not offer any online savings accounts. You might also consider other options if you are looking to open a checking or CD account.
Bread Savings: 2.9% APY
Bread Savings, High-Yield Savings account
Annual Percentage Yield
2.90% APY
Minimum Deposit Amount
$100
Bread Savings, High-Yield Savings account
Annual Percentage Yoield (APY).
2.90% APR
Minimum Deposit Amount
$100
Bread Savings’s website
Deposit Details
Annual Percentage Yield
2.90% APY
Minimum Deposit Amount
$100
Pros & Cons
Highlights
The Bread Savings, High-Yield Savings accountAnother solid, high-yield savings account. This could be a good investment if you have at minimum $100.
Bread Savings is a brand you may be familiar with, but you might not have heard of Comenity Direct. Comenity Direct recently had its brand rebranded. Bread Financial, the parent company has expanded to include lending options.
LendingClub High Return Savings Account: 2.85% Annual Percentage Yield
LendingClub High Yield Savings Account
Annual Percentage Yield
2.85% APY
Minimum Deposit Amount
$100
LendingClub High Yield Savings Account
Annual Percentage Yoield (APY).
2.85% APY
Minimum Deposit Amount
$100
Deposit Details
Annual Percentage Yield
2.85% APY
Minimum Deposit Amount
$100
Pros & Cons
Highlights
Additional Reading
The LendingClub High Yield Savings AccountIt might be a good idea to have at least $100 available for opening an account. LendingClub also offers a solid cash-back checking option.
BrioDirect High-Yield Savings account: 2.80% APY
BrioDirect Savings Account with High Yield
Annual Percentage Yield
2.80% APY
Minimum Deposit Amount
$500
BrioDirect Savings Account with High Yield
Annual Percentage Yoield (APY).
2.80% APY
Minimum Deposit Amount
$500
Deposit Details
Annual Percentage Yield
2.80% APY
Minimum Deposit Amount
$500
Pros & Cons
Highlights
The BrioDirect Savings Account with High YieldIf you have at least $500 to open an account, this may appeal to you. Online banks offer high-yield savings accounts with lower minimum opening deposits.
Bask Bank Interest Savings account: 2.75% APR
Bask Bank Interest Savings account
Annual Percentage Yield
2.75% APY
Minimum Deposit Amount
$0
Bask Bank Interest Savings account
Annual Percentage Yoield (APY).
APY: 2.75%
Minimum Deposit Amount
$0
Deposit Details
Annual Percentage Yield
2.75% APY
Minimum Deposit Amount
$0
Pros & Cons
Highlights
Bask Bank may be a good option if your goal is to open an account with 0. You should keep in mind, however, that this online bank does not offer any savings. Two types of savings account. Other financial institutions may be an option if you are also searching for a checking or CD account.
Credit Karma Savings Account: 2.73% APR
Credit Karma Money Saving Account
Annual Percentage Yield
APY: 2.73%
Minimum Deposit Amount
$0
Credit Karma Money Saving Account
Annual Percentage Yoield (APY).
2.73% APY
Minimum Deposit Amount
$0
Credit Karma’s Website
Deposit Details
Annual Percentage Yield
2.73% APY
Minimum Deposit Amount
$0
Pros & Cons
Highlights
The Credit Karma Money Saving AccountThere is no monthly fee or minimum deposit. This could be a good choice if you want to open a savings account that offers a high-interest rate, or if Credit Karma’s Instant Karma feature appeals. Credit Karma’s Instant Karma allows you to receive rewards whenever you use your Credit Karma card.
Credit Karma does not offer a spend or save account. You might also consider other institutions if you are interested in opening a CD or money-market account.
CIT Bank Savings Connect – 2.70% APY
CIT Bank Savings Connect account
Annual Percentage Yield
2.70% Annual Percentage Yield
Minimum Deposit Amount
$100
CIT Bank Savings Connect account
Annual Percentage Yoield (APY).
2.70% APY
Minimum Deposit Amount
$100
Deposit Details
Annual Percentage Yield
2.70% Annual Percentage Yield
Minimum Deposit Amount
$100
Pros & Cons
Highlights
Additional Reading
The CIT Bank Savings Connect accountIt is a straightforward savings account with high interest rates. CIT Bank is a great choice for money market accounts and CDs. CIT Bank offers the following: unique promotional offerThrough its money market account the bank offers many CD options.
Personal Capital Cash Account: 2.60 % to 2.70 % APY
Personal Capital Cash Account
Annual Percentage Yield
APY Rates: From 2.60% to 27%
Minimum Deposit Amount
None
Personal Capital Cash Account
Annual Percentage Yoield (APY).
APY Rates: From 2.60% to 27%
Minimum Deposit Amount
None
Personal Capital’s Website
Deposit Details
Annual Percentage Yield
APY Rates: From 2.60% to 27%
Minimum Deposit Amount
None
Pros & Cons
Highlights
Personal Capital, however, is the mainstay of financial management. an investment platformYou may also be able to earn high interest rates on your cash by opening the Personal Capital Cash Account. An account can be opened by anyone, as long as the person is a US citizen (or a permanent resident) over the age 18 and has no IRA backup withholdings.
Personal Capital advisory clients are required to earn 2.70% APY. You’ll only earn 2.60% APY if you don’t.
TAB Bank High-Yield Savings account: 2.66% APR
TAB Savings Account with High Yield
Annual Percentage Yield
2.66% APY
Minimum Deposit Amount
$0
TAB Savings Account with High Yield
Annual Percentage Yoield (APY).
2.66% APY
Minimum Deposit Amount
$0
Deposit Details
Annual Percentage Yield
2.66% APY
Minimum Deposit Amount
$0
Pros & Cons
Highlights
Additional Reading
TAB Bank is a bank you might consider if your goal is to open additional accounts in addition to your high-yield savings. TAB Bank offers competitive rates for CDs, as well as its other products. High-yield savings account.
TAB Bank does not have an ATM network. However, any ATM you use will be charged a fee.
