High Yield Savings Account reviews from Reddit

Summary

We analyzed 582 Reddit reviews across 32 subreddits and 85 posts to rank the best High Yield Savings Account brands recommended by redditors, including communities like r/HighYieldSavings, r/Bogleheads, r/Banking, r/personalfinance, r/Fire. Top-rated brands include Wealthfront (4.7/5), Marcus (4.4/5), Ally (4.2/5).

Stats

Reviews582

Subreddits32

Posts85

Brands81

Products26

Top communities

r/HighYieldSavings109 r/Bogleheads99 r/Banking91 r/personalfinance71 r/Fire45

582 reviews from

and

By Brand

By Product

Wealthfront

4.7

(95)

"Wealthfront. 5% starts tomorrow I believe."

"Just opened my Wealthfront account! Here's my link so we can both get a 0.50% APY boost."

"Code for anyone looking to open a Weathfront cash account and earn a 3 month 0.50% APY boost. This code is for April 2025. Earn a total of 4.5% APY."

"Wealthfront is great, but please shop around: https://yieldfinder.app/"

"Wealthfront has a cash account with 4.00% HYSA and if you use the referral code you get an extra .50%. Total of 4.50%. I have been using them for over 5 years now."

"I have Wealthfront and have been happy with them. 4.00% APY right now and with a referral link you’ll get a 0.50% boost for 3 months making it 4.5% right now."

"I just switched from ally to Wealthfront. I have a referral link to extend the offer for 4.5%"

"I use Wealthfront and I love it! Friendly user face and easy to get help. You can earn 4.00% APY, or 4.50% for the first three months with a referral link"

"With Wealthfront you can earn 4.00% APY, or 4.50% for the first three months with my referral link."

"Honestly I love Wealthfront so far, I’ve been using it for about 6 months. I get 4% APY."

Marcus

4.4

(73)

"I have been a marcus customer for the last 5 years. No issues and great customer service."

"Earn ~4.9% APY total."

"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'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%."

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

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

Ally

4.2

(43)

"The 3 best for ease of use, nice app & website, wide ATM access."

"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."

"Ally, 4.25% or something."

Capital One

3.8

(44)

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

"Captiol One was the easiest for me to use. No minimums or DD required and they had a $250 bonus for depositing 10k when I opened mine. It’s at 4.3% though."

"The two that I can recommend are Capital One and AmEx. Smaller banks have higher rates. Some offer 4.50% APY."

"Capital One is around 3.7% APY with no fees or minimum balance."

"Capital One is still one of higher ones at 3.70%."

"I have CapitalOne at 3.70% APY and I also just added Forbright Bank at 4.25% APY."

"Cap Ones been great for me."

"Capital One for HYSA. It tends to be pretty competitive."

"Interest rates around 4-5% APY are competitive, and banks like Capital One or Ally typically offer those."

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

Marcus by Goldman Sachs

4.6

(35)

"Just signed up for Marcus. Thanks everyone for the suggestions."

"I recently also got a Marcus Goldman Sachs HYSA with a pretty steady 3.75 APY and no fees. So far, so good!"

"Echoing Marcus! I’ve had my money with them for a couple of years and it’s been very easy plus great UI."

"Marcus by Goldman Sachs I’ve been using for like 4 years now. Super competitive APY, no fees or minimums, fdic insured, and you get a boost bonus with link."

"I did about a month of research and eventually settled on Marcus, but I'm debating Wealthfront as well for a second account."

"Highly recommend Marcus backed by Goldman Sachs and FDIC insured, competitive rates, easy money transfers/withdrawals."

"I have a Marcus HYSA and it’s been excellent. The app is efficient, user friendly and transferring money is a breeze."

"I've been a Marcus/Goldman Sachs customer for almost 3 years now. No complaints. For money transferring, no issues there too for me yet."

"Every HYSA has an interest rate that you earn. If you sign up with this referral code your interest rate gets boosted by 0.25% for 3 months."

"Marcus is great."

SoFi

4.1

(37)

"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 has interest rates around 4.6% and a unique "vault" system for managing savings goals."

"Supercharge your savings with up to 4.60% APY-10x the national average."

"I think SoFi is an amazing bank."

"SOFI isn’t a credit union but they have 4.6% interest on their savings if you use them for direct deposit."

"I use SoFi online, they have 4.3% on high yield savings with any amount of direct deposit."

"I still like Sofi tho. I like the all point ATMs tho and vaults."

"I just opened a SoFi account."

"SoFi is pretty good and highly rated"

Discover

3.9

(21)

"Discover currently offers 4% APY HYSA. I can transfer between Discover and my other banks via ETF."

"Discover has everything but the 2fa."

"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%."

CIT Bank

4.4

(18)

"I think this is the best option because it gives 4.35% APY on amounts above $5000."

"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."

"CIT Bank (5.05% APY) is a good places to park money. I had no issues opening an account there."

"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%."

"CIT Bank is rated high on nerd wallet."

"No issues with them. Very cut and dry interface that is simple. Customer service is good, but only available via phone."

"I just stuck with Cit Bank at 4.3%."

High Yield Savings Account

3.9

(19)

"Check doctor of credit for list."

"Has a high yield savings account at over 4%."

"It started at 5%."

"Is at 4% right now."

"Is at 4.00%."

"@ 4.35%."

"Has 4.25%."

"Is the answer."

"I liked the high return rate and ease of use."

"Which is 4.35%."

#10

Ally Bank

4.0

(15)

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

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

"Ally bank is usually a solid pick."

"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"

#11

American Express

3.9

(14)

"American Express is a great match for what you’re looking for."

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

"American Express has a HYSA with a rate around 4.3% and good customer service overall"

"Amex and Marcus. I’ve had them for a couple of years now and no issues."

"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."

#12

Fidelity

4.0

(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."

"Settled with a “CMA” account in fidelity where all the money is parked as liquid treasury bonds. Earning 3.99%."

"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."

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

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

"Does anyone keep money in fidelity money market?"

#13

Bask Bank

4.0

(8)

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

"I’m using Bask Bank. 3.85% apy"

"I’m getting 4.39 from Bask Bank."

"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%."

#14

Vanguard

4.7

(6)

"VUSXX currently has a yield around 4.85%."

"Open a brokerage at Vanguard."

"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."

#15

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."

#16

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."

#17

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."

#18

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%."

#19

Raisin

3.8

(5)

"Thanks for the Raisin recommendation. I've never heard about them, and the list there is quite good."

"Raisin has HYSAs at 4.5%+ APY."

"Raisin has HYSAs at 4.5%+ APY and up to $200 cash bonus."

"Raisin has a few banks you can deposit into with 4.5%+ APYs."

"Download raisin check there done. If you don't want trade accept lower than 3%"

#20

5.0

(3)

"Tangerine is offering 6% until April."

"Tangerine offered me 6% on new deposits."

"Tangerine is 5% now."

#24

UFB Direct

4.7

(3)

"UFB direct had them when rate was 4.81 now it’s 5.06 and all I had to do was message them for them to increase my rate"

"UFB Direct has been great so far. Easily connected to my bank and transferred money in. 5.02% HYSA."

"UPF is close to 4%."

#25

VioBank

4.3

(3)

"5.30%."

"Viobank. 3.52% savings account"

"Vio Bank has consistently offered a top 5 APY for last couple years. Currently 3.52%."

#26

Citi

3.0

(4)

"No problem using Citi Bank 4.45%."

"Citi accelerate savings is 3.1+ right now."

"Citi’s website is a disaster."

"Citi’s website is a disaster, and their transfer limits are low."

#27

Goldman Sachs

4.0

(3)

"Marcus by Goldman is great! They have competitive rates, FDIC I insured, easy to move money and their app works great."

"Marcus is good. I think highest yield right now is the capital one savings account tho."

"They're all *pretty much the same*... Capital One 360, Discover, Marcus, Ally are the common ones."

#28

4.0

(3)

"Synchrony bank has a HYSA also that’s great"

"Synchrony is at 2.25%. They've been no problem and tend to have one of the higher yields."

#33

PayPal

4.0

4.0

(2)

"I also like it."

"I'm getting 4%. It used to be 5%."

#52

3.0

(1)

"Forbright does offer a higher APY% but they are so new and it was hard to finding much information on them"

#81

Everwise

3.0

(1)

"Everwise had CD rates that were higher than my Ally HYSA rates."

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