Updated: 2/7/2024
So, here’s the thing: there’s always this ongoing debate about what to do with your hard-earned money. Should you stash it away in a savings account or take a leap of faith and invest it in the unpredictable world of the stock market? Now, historically speaking, the stock market tends to give a better return on your investment with an average annual return of 8-10%. Meanwhile, your average savings account in the US barely manages to offer a measly 0.42% APY. Talk about a massive difference, especially when you take compounding interest into consideration!
Now, we get it. The stock market can be a tad bit intimidating, and some folks prefer to opt for the security of a savings account. With that in mind, we have curated a comprehensive list of the top-performing savings accounts available.
Here is the list of excellent High-Yield Savings Accounts.
| Popular Direct APY 5.20% Min. balance for APY $100 |
| DollarSavingsDirect APY 5.00% Min. balance for APY $1 |
| BMO Alto Online Savings Account APY 5.10% Min. balance for APY $0 |
| Citizens Access Savings APY 4.50% Min. balance for APY $0.01 |
| Synchrony Bank APY 4.75% Min. balance for APY $0 |
| Sofi APY 4.60% Min. balance for APY $0 |
| Capital One APY 4.35% Min. balance for APY $0 |
| Goldman Sachs Bank USA APY 4.50% Min. balance for APY $0 |
| American Express APY 4.35% Min. balance for APY $0 |
