High-yield savings accounts offer APYs of 4.00% to 5.00%, surpassing traditional savings rates.

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By Dipak Jaiswal             06 Aug 2023

Online banks provide better rates due to lower overhead costs compared to in-person branches.

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CIT Bank offers a 5.05% APY with a $5,000 balance requirement and no monthly fees.

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TAB Bank's high-yield savings account earns 5.02% APY with no minimum deposit requirement.

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Bread Savings, Bask Bank, Dollar Savings Direct, and Laurel Road all offer 5.00% APY accounts.

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These accounts have no monthly fees and may have lower minimum deposit requirements.

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Online-only banks or divisions of smaller banks often provide these high-yield savings options.

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High-yield savings accounts are a low-risk way to earn better interest while keeping funds FDIC-insured.

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