High Yield Savings reviews from Reddit
Summary
We analyzed 230 Reddit reviews across 12 subreddits and 22 posts to rank the best High Yield Savings brands recommended by redditors, including communities like r/HighYieldSavings, r/Banking, r/personalfinance, r/DACA, r/whitecoatinvestor. Top-rated brands include Wealthfront (4.7/5), Marcus by Goldman Sachs (4.6/5), American Express (4.3/5).
Stats
Reviews230
Subreddits12
Posts22
Brands43
Products33
230 reviews from
and
By Brand
/By Product
#1
Wealthfront
4.7
(50)
"I've been using Wealthfront for 6 years now (both their HYSA/cash account and a robo-managed investment account) and have no complaints and many compliments."
"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."
"Wealthfront 100%"
"I second Wealthfront. I just opened mine a few weeks ago after going through the same digging around you are doing now."
"I use Wealthfront and am very happy. A 4% interest rate and connects seamlessly to all my external accounts."
"Wealthfront and Betterment are both offering 4.5% boost right now. I recommend both."
"Wealthfront is an excellent choice! I’ve been with them for two years."
"I second Wealthfront. DM me if you need a referral code."
"I would suggest Wealthfront, the checking features are amazing. You can take out your money in 5 minutes via instant transfers."
"I’ve been using Wealthfront’s Cash Account for a while now—base APY is 4.0% (pretty great already), but with a referral link you and I both get a 0.5% boost for 3 months, bumping it up to 4.5% APY."
#2
Marcus by Goldman Sachs
4.6
(39)
"Hey I chose Marcus by Goldman Sachs recently mostly bc of the good rate and easy to use app."
"Use Marcus as well. Currently 3.75% with a 0.25% bonus for 3 months. Have used for about 3 years now and super easy."
"Use Marcus as well. Currently 3.75% with a 0.25% bonus for 3 months. Have used for about 3 years now and super easy."
"Just signed up for Marcus."
"Marcus Goldman Sachs HYSA with a pretty steady 3.75 APY and no fees."
"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."
"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."
"Can't talk much about SoFi as 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."
#3
American Express
4.3
(17)
"I just set up HYSA with American Express. It was extremely easy. No minimums."
"$100k in AMEX HYSA makes it easy to grab and I trust them."
"Emergency fund stays in the AMEX HYSA."
"I use AMEX since I already have a credit card through them. No complaints and I can do same day withdrawals to my Chase account with no fees which is convenient."
"The two that I can recommend are Capital One and AmEx."
"American Express is a great match for what you’re looking for."
"I'm getting 3.7% from American Express, and there is no min or max to get that rate or any other requirements."
"Spouse uses Amex."
"I care more about the user interface/ease of use, and have stuck with AMEX, even though they're down around 4.3 now."
"I tend to just keep my HYSA with AMEX since that’s who I have all my cards with and I like their customer service."
#4
SoFi
4.1
(16)
"SoFi has been great to me. Taken advantage of bonuses they give. App is so easy to use."
"If you're looking for the best high-yield savings accounts with no withdrawal penalties and the option for multiple people to contribute, check out online banks like SoFi, Ally, or Marcus by Goldman Sachs."
"SOFI presently 3.8% APY"
"I use SoFi and earn 4.3%. I believe their only requirement is monthly direct deposit over $300."
"I’ve used Ally and SoFi with no issues. Just yesterday transferred money to my local bank that’s available within less than 24hrs."
"I just went w sofi. 3.8% w/ no account fees/ minimums & ability to transfer at will. My financial advisor buddy recommended them."
"I use SoFi HYSA. Recently dropped from >4% to 3.8%. Transfers to my brick and mortar checking account happen in 1-3 days. No issues so far."
"Personally, I like and use SOFI for banking."
"Sofi HYSA. 3.8% + $325 cash bonus. No fees/minimums and FDIC insured."
"I've been using SoFi for this."
#5
Capital One
4.1
(16)
"Capital one performance is the best one right now."
"The two that I can recommend are Capital One and AmEx."
"I personally use Capital One. Both checking and savings accounts are 100% free, and at the moment the savings account offers 3.6% APY."
"Cap One performance savings, at 3.6% right now. Happy with them"
"I’ve been with Cap One since they were ING Direct. No complaints."
"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."
"A few good ones I can recommend are AmEx, Capital One, Discover, and Marcus."
"I like capital one. You can also add or take out cash at any walgreens for no fee."
"Capital One is around 3.7% APY with no fees or minimum balance. It is a bit low, but it’s pretty secure and stable."
"Capital One is still one of higher ones at 3.70%, and I've personally found CapOne to be a good bank to work with."
#6
Ally
4.1
(11)
"If you're looking for the best high-yield savings accounts with no withdrawal penalties and the option for multiple people to contribute, check out online banks like SoFi, Ally, or Marcus by Goldman Sachs."
"Ally is the HYSA that I used."
"A place like Ally has a HYSA (high yield savings account)- I believe they are offering 3.6% right now."
"I’ve used Ally and SoFi with no issues. Just yesterday transferred money to my local bank that’s available within less than 24hrs."
"I use Ally and Betterment. Ally usually has competitive CD rates as well."
"Ally and Discover are two options for you to consider."
"Discover, ally, and Marcus are good as well."
"Ally, 4.25% or something"
"I am pulling the trigger on AllyBank. It might not be the highest APR currently, but I've had 2 very reputable financial advisors point to them."
"Rates change a lot though especially now with Ally at 3.6% lately, so just look around HYSA aggregator sites to see what’s actually paying well right now."
#7
CIT Bank
4.0
(9)
"CIT Bank (5.05% APY) is a good places to park money. I had no issues opening an account there."
"I like CIT bank, they offer over 4% now and I haven’t really had issues with them"
"CIT Bank is rated high on nerd wallet"
"I just stuck with Cit Bank at 4.3%."
"I am currently using CIT Bank. 4.3% rn"
"I use CIT bank. very good, if you have over $5,000 you will get 4.56%"
"CIT BANK currently 4.21% (4.35% last statement). I think all rates are dropping month to month."
"Don’t know if it’s best now, but CIT Bank 4.5%. Easy to open an account and very easy to move money."
"I use CIT bank"
#8
Fidelity
4.3
(7)
"Open up a fidelity cash management account (CMA). Once you open it, you can set your sweep/core position to one of two money market fund options."
"Look at getting a CMA at Fidelity. They have a really sub r/fidelityinvestments . SPAXX, one of the core positions, is about 4.0%."
"The short-term fractional CDs on Fidelity serve the purpose of a HYSA pretty well and don't leave you with an excessive amount of accounts."
"If you are not particular about it being a "savings account", Fidelity or Betterment / Wealthfront are all solid options."
"Fidelity money market or anything similar will get you a similar rate 3.5% and above."
"Fidelity is a one stop shop for brokerage, checking, 2% credit card, and currently 4% interest on cash balance."
"You can just keep your cash in their Government Money Money Fund which currently pays 3.98%."
#9
Discover
4.0
(7)
"I have one through Discover that's given me no issues so far. The interest rate is 3.75%."
"Ally and Discover are two options for you to consider."
"I've used Discover for years and I'm happy with them."
"Discover, ally, and Marcus are good as well."
"A few good ones I can recommend are AmEx, Capital One, Discover, and Marcus."
"Discover has everything but the 2fa."
"Discover didn’t give me any issues to open an account. it’s so simple you can do it on their phone app. their savings account interest rate is ~4% which is way better than other banks i’ve had"
#10
Axos Bank
4.4
(5)
"Axos ONE – 4.66% APY. Requires $1,500 minimum balance to earn APY."
"Axos Bank at 4.86%"
"I have UFB Direct (an Axos bank) but currently getting 4.01%. Might as well move it over for 4.66%."
"Just saw axios bank has 4.66%…might have to move it all there lol."
"I use UFB direct. I like it because it has all the functionality I need in a bank and is on the higher end of interest payouts."
#11
Openbank
4.0
(5)
"Openbank High Yield – 4.40% APY. Requires $500 minimum balance."
"Openbank by Santander gives you 4.40%. I don’t have a referral link :("
"Openbank is at 4.40% right now. So far I have enjoyed it."
"Openbank is worth a look"
"Openbank 4.4%"
#12
LendingClub
4.0
(3)
"Lending bank, as long as u deposit $250 a month u get 4.4%"
"Lending Club. 4.4%. You need to transfer $250 every month IN the account."
"LendingClub is now the best at 4.5% but requires $250 monthly into the savings or you get the standard 3.5%."
#13
Credit Unions
4.0
(3)
"Go to DR of Credit. They have a thread that shows the best HYSA."
"Check credit unions with fewer hoops. E-statements and one external transfer a month works to get 4%."
"Local credit union is paying 4.5% so don't forget to check on local options too."
#14
EverBank
4.0
(3)
"Everbank (formerly TIAA) Performance Savings. 4.3% APY. I opened it with $2k."
"I use everbank. My apy is 4.3 on my savings acct"
"EverBank has one of the highest currently"
#15
PayPal
4.0
(3)
"PayPal is also rarely mentioned. It is currently at 4% APY"
"PayPal saving account is giving me 4% and took like 2 min to apply and get approved."
"PayPal savings(Synchrony Bank) is at 4%."
#16
Roger.Bank
5.0
(2)
"Https://roger.bank/savings 4.65% Savings and they have a 2% checking. About to have a 5% Rate if you're military."
"I use Roger.Bank for 4.55% with no hoops to jump through."
#17
Betterment
4.5
(2)
"Wealthfront and Betterment are both offering 4.5% boost right now. I recommend both."
"I use Ally and Betterment. And I like the Betterment robo-advisor."
#18
High Yield Savings Account
4.5
(2)
"Commerzbank bank pays 2.75% and by far the best option."
"2.67% with Bunq for the time being with weekly payout. OK for a short term option."
#19
Bask Bank
4.0
(2)
"I’m sitting at 4.2% with bask 4.11 interest"
"I have Bask Bank @4.35%. So far so good!"
#20
Jenius Bank
4.0
(2)
"Jenius Bank is good, no direct deposit needed. 4.2% interest."
"Jenius Bank 4.5%, no codes or referrals needed."
#21
Vio Bank
4.0
(2)
"Vio Bank’s Cornerstone Money Market Savings Account is at 5.30% APY right now."
"I use VioBank, which is currently 4.33% and is FDIC insured. The rate is good but I might switch because the website and app design is archaic and it takes a long time to credit my deposits."
#22
Apple
4.0
(2)
"Apple offers you a savings account. It is sitting at 3.75% APY right now."
"Apple offers a HYS (through Goldman Sachs bank) to their Apple Card customers. Pretty solid, 4.5%, no fees, no min balance, can withdraw anytime."
#23
Chase
3.5
(2)
"I have a private client acc with Chase and never had any issues with them. I have 250k with them at 4.8%."
"Chase has a 3.6% high yield savings. FDIC insured, no minimum."
#24
T-Bills
5.0
(1)
"T-bills, since you'll often get rates comparable with HYSA but you only pay federal taxes."
#25
Booster Savvy
5.0
(1)
"Booster Savvy - 3.75% and you can spend using a Debit Mastercard"
#26
UFBDirect
5.0
(1)
"UFBDirect.com 5.25% APY. Easy to open. No issues here."
#27
SGOV
5.0
(1)
"SGOV, 5% yield. Can do in a regular big name brokerage."
#28
Vanguard
4.0
(1)
"I prefer money market accounts. I use VUSXX since I’m in a high-tax state"
#29
Barclays
4.0
(1)
"Barclays Tiered Savings Account – 4.10% APY. No minimum balance."
#30
Schwab
4.0
(1)
"Schwab and Fidelity are great options. Schwab's SWVXX mutual fund is their premiere money market fund for smaller investors."
#31
Western Alliance
4.0
(1)
"I use Western Alliance"
#32
Synchrony Bank
4.0
(1)
"I just signed up with Synchrony Bank. Was super easy. Same bank that has CareCredit. Currently a 4% rate."
#33
E*TRADE
4.0
(1)
"Etrade is great. Easy to transfer. It’s at 4.00% right now. Better than other brokerages like vanguard who is at 3.65%"
#34
CIT
4.0
(1)
"CIT is a good bank as well. 4.30 on 5k or more."
#35
Goldman Sachs
4.0
(1)
"Goldman Sachs Marcus, 3.9% for savings right now. You can easily transfer in and out of the bank without issue."
#36
Upgrade
4.0
(1)
"Upgrade has a 4.04% that requires no direct deposit, but you’ll need to have at least $1,000 to earn it."
#37
OpenBank
4.0
(1)
"I’ve got OpenBank HYSA. I’m pleased with it."
#38
Raisin
4.0
(1)
"Try Raisin.com for some great rate options."
#39
Synchrony
4.0
(1)
"Two to check out are Synchrony at 4% and OpenBank (Santander) at 4.4%. Good luck!"
#40
MyBankingDirect
4.0
(1)
"Mybankingdirect offers 4.4% currently."
#41
Credit Karma
4.0
(1)
"I put my money in credit karma saving account. I believe it's around 5.10%"
#42
Citi
4.0
(1)
"No problem using Citi Bank 4.45%. Also have their credit card."
#43
Santander
1.0
(1)
"Santander very bad."
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