Highest Savings Account Rates Today: August 1, 2022

More online banks are raising interest rates on savings accounts. For example, Bask Bank, BrioDirect, and LendingClub all have savings accounts paying more than 2% APY right now.

Our best savings account guide And Best High-Yield Savings Account Guide They can be great starting points in your research, as they often include other useful features in addition to higher rates for customers. But if you prefer finding the highest rates over the top, then this list is for you.

Highest Savings Account Rates: August 1, 2022

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Editor’s Rating

4.25/5

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At least $100. open account with

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4/5

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Open and hold at least $25 in your account

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4.25/5

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Open an account with at least $100 and open a CIT eChecking account

Editor’s Rating

4/5

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Editor’s Rating

4/5

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At least $5,000. open account with

Editor’s Rating

4.25/5

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Set up Direct Deposit to earn 1.80% APY

Editor’s Rating

4.25/5

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At least $100. open account with

Editor’s Rating

4.5/5

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What are the interest rates for savings accounts today?

The FDIC monitors national rates for interest-earning bank accounts. The average interest rate currently earned by a savings account is 0.10% APY.

We are investigating over a dozen financial institutions to keep up with their new rate offerings. Our list includes accounts with much higher interest rates than the national average because online institutions offer high-yield bank accounts.

The most competitive high-yield savings accounts pay 1.75% APY or more right now. Keep in mind that interest-bearing accounts are subject to change. Savings accounts have a variable interest rate, which means that the rate can fluctuate at any time.

the Federal Reserve The federal funds rate has recently increased Several times this year, therefore, savings interest rates are also expected to rise steadily throughout 2022.

Best Savings Account Interest Rates

Annual Percentage Yield (APY)

2.15% APY

Minimum Deposit Amount

$25

Annual Percentage Yield (APY)

2.15% APY

Minimum Deposit Amount

$25

professionals

  • $25 minimum opening deposit
  • no monthly service fee

Shortcoming

  • You must maintain at least $25 per day in your account to earn interest

more information

  • You must maintain at least $25 per day in your account to earn interest
  • Interest is compounded daily and accrued monthly
  • FDIC Insured

briodirect high-yield savings account Pays the highest interest rate on our list. briodirect high-yield savings account Can be attractive if you are able to keep at least $25 in your account per day.

UFB High Yield Savings This can be useful if you want easy access to your account — the savings account comes with an ATM card. meanwhile, Bass Bank Interest Savings Account This can be a good option if you want to open an account with $0.

you can consider this Quantic High Yield Savings Account If you want to open different types of bank accounts. Quantic has several options, including rewards checking accounts, CDs, and money market accounts.

LendingClub High-Yield Savings Account Another great high-yield savings account. This can be a good option if you have at least $100 to get started.

Meanwhile, if you are planning to open a savings and checking account then CIT Bank might be a good fit for you. Connect CIT Bank Savings Account A minimum initial deposit of $100 is required. You will also need to open a CIT Bank checking account to qualify for this savings account.

TAB High-Yield Savings Account There is also a strong high-yield savings account. There is no minimum opening deposit.

Citizen Online Access Savings Account Overall a good high-yield savings account is as long as you have at least $5,000 to open the account.

Finally, if you’re comfortable combining your checking and savings into one account, you might consider opening one. SoFi Checking & Savings, The hybrid bank account comes with a debit card, and you will be able to earn 1.80% APY if you set up a direct deposit.

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