Best high yield savings account on Reddit

441 reviews from r/Bogleheads, r/personalfinance, r/HighYieldSavings and 23 more subreddits

441 reviews from

and

By Brand

By Product

Wealthfront

4.6

(70)

"By far Wealthfront! Their app is so easy to use and you earn 4.75% with a referral!"

"Here's an affiliate code for 4.75% APY."

"As of 12/9, is 4.75% through Wealthfront the best anyone is getting that is FDIC?"

"It’s weird Wealthfront has effectively given me 8.8% returns the past 6 months."

"I use Wealthfront. I also went thru the Sofi vs Wealthfront debate and ended up going Wealthfront for the interest rate."

"Wealthfront"

"Wealthfront 5%."

"Wealthfront 4.5% or 5% for 6 months with referral."

"I’ve tried a few others but Wealthfront has been the best so far. It’s currently at 4.50%."

"Wealthfront is honestly the best!! It gives the best interest rate amongst all of these."

Marcus

4.5

(70)

"I've been using Marcus by Goldman Sachs for 5 years now and I'm really liking it! It has a high APY (5%)."

"It's Goldman Sachs, can't go wrong with this choice."

"Here is my referral link for Marcus."

"Its pretty straightforward you earn interest at the first day of the month."

"Never had an issue with it and the yields are great."

"I’m inviting you to receive a cash bonus when you open a Marcus high-yield Online Savings Account."

"I've been using Marcus and loving it. Still have 5 spots left!"

"Here's my Marcus referral link for a 1% boost to 5.4%."

"With the referral code, you’ll get 5.40% APY as of May 31, 2024."

"I've had an excellent experience with MARCUS so far."

Ally

4.2

(34)

"I’ve been very happy with Ally’s HYSA for the last 5 years."

"Ally let me wire 90k no problem."

"I use Ally and I love it."

"Ally just announced their savings account is going to 3.00% starting tomorrow."

"Ally hands down."

"Ally just raised rates again, over 2% now."

"I have Ally for all my banking needs. They have the high yield savings account as mentioned above."

"I’ve been happy with Ally."

"I like Ally."

"Ally is a good bank. Has early deposit support too."

Capital One

3.8

(33)

"I think capital one hys is up to 5.5% and the rate increases the longer you have the account."

"Capital One offers a 3.80% APY as of now, with no minimums and no monthly fees."

"I’d recommend capital one bank, AMEX bank, discover bank."

"Capital One and Ally Bank HYSAs both offer around 4.00% APY, they don't have minimum balances or monthly fees."

"Popular HYSAs like Capital One, Marcus, and Discover usually don’t have fees or minimum balance requirements."

"Look for HYSAs with rates around 4-5% APY."

"Capital One is what I use. It is only 4.25% but I have no issues with it."

"Currently have mine in CapitalOne 360 Performance at 4.35%."

"Just moved to Cap1 since the rest of my money is there."

"Capital One."

SoFi

4.0

(28)

"Recently got one with SoFi and love it! No fees or minimums. Easy to use and good support."

"I have heard great things over the last year."

"SoFi is pretty good and highly rated"

"Just do sofi or capitalone"

"Offers 4.60%."

"I use SoFi they have 4.6% and if you use my link you get a $300 bonus for signing up and depositing money!"

"They have 4.6% and if you use my link you get a $300 bonus for signing up."

"You’ll earn up to 4.20% APY and pay no account fees."

"Has straight up 4% interest with no weird special requirements."

"Personally, I use SoFi and have been pretty satisfied."

Discover

3.9

(20)

"About 4.25% interest."

"Discover has been good to me. I set up automatic cash back to go into savings."

"You can definitely open an HYSA. We tend to recommend Discover."

"I have discover and Amex, I like them both."

"Discover 4.21%."

"Discover usually has a higher APR sooner than amex."

"Discover bank has been good for me. They have about 4.35% APY right now."

"I like my discover, no minimum at 4.35%."

"Discover."

"I use DiscoverBank for my HYSA need."

Ally Bank

4.0

(14)

"They’ve got solid high-yield savings without direct deposit requirements."

"Easy website, easy set up, including joint account and beneficiaries."

"They currently have a pretty good APY of 3.85% in their savings account."

"I use ally bank."

"Ally Bank has a 0.46% APY, which is quite competitive."

"Now I’m using Ally Bank."

"Probably not the highest rate but it’s fine for me."

"I've had great experiences with both Ally and LendingClub."

"I've heard about Ally"

"Ally, Discover, Alliant, and Capital One offer both savings and checking accounts."

American Express

4.0

(10)

"I recommend American Express Savings Bank. The web site is well-designed and reliable, and their digital communication is unmatched."

"AMEX is fine."

"I use American Express. I trust the name and it lets me sleep at night."

"I use an AMEX HYSA. Currently at 3.0%."

"I've used both Amex and Wealthfront's High Yield Cash account and both are good products."

"American Express has done me well. Sitting at 3% right now."

"American Express is currently paying 3%. Not the best rate out there, by they have excellent customer service."

"I've been satisfied with AMEX high yield savings."

"I would recommend American Express high yield savings. Quick transfers and overall solid."

"American Express is currently paying 3%."

CIT Bank

4.6

(8)

"Super easy to open an account and APY is 4.25 -4.5, no issue with transferring money."

"CIT Bank - 5.05%. 10 min to open an account online."

"CIT bank pays about 5% after the first $5k. Been using them for about 2 years with 0 issue."

"If you want to get 0.70% higher (5.05%) APY on your deposit, then I recommend CIT Bank Platinum savings."

"CIT Bank (Platinum Savings) | 5.05%."

"MBD is a little slow on transfers but is at 5%."

"I used CIT, but I switched to just putting money in USFR on etrade account."

"CIT Bank 5.05APY with $5k min."

#10

Fidelity

4.1

(9)

"You can do better than most HYSA with a Fidelity Cash Management account, buy SPRXX, 4.34% (or FDLXX 4%) with no fees, no wire fees, no NSF fees, no ATM fees, fully liquid and no games."

"Currently getting 4.96%."

"Use fidelity. You’ll get money market returns along with bill pay, check writing, and other features."

"Just use Fidelity for everything."

"Most people like Fidelity with its core position."

"Fidelity and Vanguard both have money market funds that currently yield 4.5%."

"I'm using the Money Market at Fidelity, I think it's 4.5 or 4.6% right now."

"Cash is automatically held in SPAXX, a government money market fund yielding 4.5%."

"My brokerage cash fund is making good money these days - over 3."

#11

Vanguard

4.7

(7)

"VUSXX currently has a yield around 4.85%."

"Open a brokerage at Vanguard."

"Using a money market fund at a brokerage is also an excellent option. For example, Vanguard's default settlement fund, VMFXX, is currently at 5.18%."

"Why not use vanguards mmkt acct? 5+% currently."

"I find that the VUSXX fund in a Vanguard is the best HYSA possible!"

"Vanguards money markets are paying as high as 3.64 (7 day yield) and will move higher if rates rise."

#12

Marcus by Goldman Sachs

4.4

(7)

"The experience has been great so far the app is easy to navigate."

"Marcus by Goldman Sachs has been excellent for me in maintaining liquid and secure funds."

"I use Marcus by Goldman Sachs and get 5.5%."

"Marcus by Goldman Sachs gets 5.4% if someone refers you."

"Marcus by Goldman Sachs is offering 4% APR for 3 months."

"Marcus by Goldman Sachs is at 1.20%."

"Marcus by Goldman Sachs offers the highest APY for a FDIC insured savings account I’ve seen. 0.60% APY."

#13

Bask Bank

3.9

(8)

"Bask bank is consistently raising their rates, currently 5.10% APY."

"I’m using Bask Bank. 3.85% apy"

"Bask Bank is higher than most."

"Current savings APY is 3.60%."

"My Bask is at 2.75 right now."

"They are currently at 1.61%."

"I'm using Bask Bank for my Emergency Fund. Money just sits there."

#14

UFB

4.5

(6)

"5.25% can go up to 5.40%."

"UBF Direct is offering a 5.25% APY as of 02/11/2024."

"UFB Direct savings currently at 5.25%."

"Currently 4.85%. Just went down from 5.15%."

"So far so good."

"UFB Direct offers 5.25% APY but they have withdrawal limits."

#15

M1

4.6

(5)

"M1 is launching a 4.5% savings account at the start of 2023."

"M1 is coming out with a savings account with 4.5% apr."

"M1 just announced a 4.5% HYSA"

"M1 offers High-Yield Cash Accounts! These brokerage accounts earn 5.00% APY."

"I would recommend M1 finance."

#16

LendingClub

4.2

(5)

"Offers a 5% APY and has no monthly fees."

"5.30% APY"

"I use Lending Club. 4.65 HYSA, 5.55 CD's right now."

"LendingClub has a HYSA with a yield of 4.0%."

"Lending club is doing 3.25."

#17

Wealthsimple

4.2

(5)

"I use WS Cash @ 4.5% for my emergency fund."

"Starts at 2.75% if you don’t need a tax sheltered account"

"I am loving Wealthsimple right now, once I'm done with my CIBC welcome bonus promo I'm switching over my TFSA to Wealthsimple too to get the higher interest rate."

"Best everyday rate would be wealthsimple at 4% or motive financial at 4.1%."

"Wealthsimple for 4%."

#18

Vio Bank

4.0

3.0

(4)

4.0

(2)

"I just deposited cash into an RBC account giving 4% as long as I left it for 30 days."

"I think rbf2010 through RBC Di is paying 4.5% now."

#44

Betterment

4.0

(2)

"I use Betterment, currrntly 3.2%."

#45

NYCB

4.0

(2)

"My NYCB High Yield account just increased to 4.05%."

"Using NYCB. 3.55% APY."

#46

3.0

(1)

"CI Financial has a regular rate of 3.5%."

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