High-yield savings accounts (HYSAs) in 2025 offer competitive interest rates, averaging around 5.00% APY, making them a great choice for growing your money securely. Here’s a quick look at the top 5 accounts:
- Varo Bank: 5.00% APY on balances up to $5,000 (no fees, no minimum deposit).
- Fitness Bank: 5.00% APY tied to your daily step count (minimum $100 balance).
- Axos Bank: 4.66% APY with a $250 minimum deposit.
- Pibank: 4.60% APY with no fees and no minimum balance.
- BrioDirect: 4.45% APY with a $5,000 opening deposit.
Quick Comparison
| Feature | Varo Bank | Fitness Bank | Axos Bank | Pibank | BrioDirect |
|---|---|---|---|---|---|
| APY | 5.00% | 5.00% | 4.66% | 4.60% | 4.45% |
| Min. Opening Deposit | $0 | $100 | $250 | $100 | $5,000 |
| Min. Balance for APY | $0 | $100 | $250 | $25 | $25 |
| Monthly Fees | $0 | $10 (waived) | $0 | $0 | $0 |
| FDIC Insured | Yes | Yes | Yes | Yes | Yes |
Key Takeaways:
- Highest APY: Varo Bank and Fitness Bank lead with 5.00%.
- Best for Low Balances: Varo Bank has no minimum deposit or balance.
- Best for Active Savers: Fitness Bank rewards physical activity with top rates.
- Best for Larger Deposits: BrioDirect offers great returns for balances over $5,000.
Choose the account that fits your savings goals and habits. Whether you’re starting small or saving big, these accounts are excellent options for earning more on your money.
5 BEST High Yield Savings Accounts of 2025
1. Varo Bank (5.00% APY)
Varo Bank offers an impressive 5.00% APY on balances up to $5,000. Any amount above that earns 2.50% APY.
"THE VARO SAVINGS ACCOUNT OFFERS ONE OF THE HIGHEST APYS WE’VE SEEN." – Motley Fool
To qualify for the 5.00% APY, you need to meet these two conditions:
- Receive direct deposits totaling $1,000 or more each month.
- Keep positive balances in both your Varo Bank Account and Savings Account at the end of the month.
Key Features
- No monthly fees or minimum balance requirements.
- Includes tools like automatic round-ups and the "Save Your Pay" feature to help you grow your savings.
Easy Access
- Open an account in just two minutes with no hard credit check.
- The mobile app is highly rated: 4.9 stars on the App Store (216,000+ reviews) and 4.7 stars on Google Play (230,000+ reviews).
Additional Perks
- FDIC-insured deposits up to $250,000.
- Get your paycheck up to two days early with direct deposit.
- Fee-free cash deposits at CVS locations.
- Access to 55,000+ fee-free Allpoint® ATMs.
Note: Qualifying direct deposits include electronic deposits of paychecks, pensions, or government benefits. Payments like tax refunds, stimulus checks, or person-to-person transfers won’t count toward this requirement.
With its competitive APY and user-friendly features, Varo Bank stands out as a great option for high-yield savings in 2025.
2. Fitness Bank (5.00% APY)
Fitness Bank links your interest rate to your daily step count. You can earn a 5.00% APY by holding both an Elite Checking and a Fitness Savings account.
How to Qualify
To get the top-tier 5.00% APY, you’ll need to meet these criteria:
- Average 12,500 daily steps (10,000 if you’re 65 or older)
- Maintain a minimum average balance of $5,000 in your Elite Checking account
Account Highlights
The Fitness Savings Account offers:
- $100 minimum opening deposit
- Daily interest compounding with monthly payouts
- Free online banking and external transfers
- Free eStatements
- FDIC insurance
Fees and Balance Details
A $10 monthly maintenance fee applies but can be waived if you maintain a daily balance of $100 or more. Other fees include:
| Fee Type | Amount | How to Avoid |
|---|---|---|
| Monthly Maintenance | $10 | Keep an average daily balance of $100+ |
| Excess Withdrawal | $10 | Limit withdrawals to 6 per month |
| Incoming Wire | $0 | Always free |
Step-Based APY Rates
Your APY depends on your daily steps:
- 5.00% APY: 12,500+ steps daily with an Elite Checking account
- 4.80% APY: 12,500+ steps daily without an Elite Checking account
- 0.10% APY: If step goals aren’t met
Mobile App Integration
The Step Tracker app connects with Garmin, FitBit, Apple Health, and Google Play. Step data is reviewed, and rates are updated by the second week of the following month. This system rewards you for staying active while saving.
3. Axos Bank (4.66% APY)
The Axos Bank ONE® Savings account offers a 4.66% APY, which is seven times the national average. Plus, there are no typical banking fees, making it an appealing choice for those aiming to grow their savings.
Account Requirements
To open an Axos ONE® Savings account, you’ll need a minimum deposit of $250. To qualify for the 4.66% APY, you must meet one of these conditions:
| Option | Monthly Deposits | Average Daily Balance |
|---|---|---|
| Option 1 | $1,500+ | $1,500+ |
| Option 2 | $5,000+ | $5,000+ |
These requirements are straightforward, and Axos Bank also provides a range of additional features to make saving even easier.
Account Features
This account comes packed with perks, including early access to direct deposits, access to 95,000 fee-free ATMs across the country, FDIC insurance up to $250,000, and seamless management for both checking and savings accounts. Best of all, there are no monthly maintenance fees, minimum balance requirements, overdraft fees, or account opening fees.
Interest Rate Details
The 4.66% APY applies to all balance tiers, so you’ll earn the same rate no matter how much you save.
Account Management
Axos Bank serves over 400,000 customers and manages assets exceeding $20 billion. Its digital-first platform ensures easy access and competitive savings options, all from the comfort of your device.
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4. Pibank (4.60% APY)
Pibank’s high-yield savings account offers an attractive 4.60% APY (as of February 3, 2025) with no hidden fees. This online-focused option makes saving simple and rewarding.
Account Requirements
To open a Pibank Savings account, you need to meet these criteria:
- Be at least 18 years old
- Have a valid Social Security Number
- Reside in the U.S.
- Provide a valid driver’s license, state-issued ID, or U.S. passport
Account Features
Pibank keeps things straightforward with a no-fee policy across all its services. Here’s an overview:
| Service | Fee |
|---|---|
| Monthly Maintenance | $0.00 |
| Wire Transfers | $0.00 |
| Stop Payments | $0.00 |
| Account Research | $0.00 |
| Dormant Account | $0.00 |
| Excess Transactions | $0.00 |
This zero-fee structure ensures you can grow your savings without worrying about extra costs.
Interest Rate Details
There’s no minimum balance requirement to start earning interest. The account begins accruing interest from your first deposit. Interest is calculated daily and credited monthly on the 15th (or the next business day if it falls on a weekend or holiday). This makes it a hassle-free way to grow your savings.
Account Management
Pibank provides a user-friendly experience through its online platform and mobile app. However, this account is strictly for savings. Here’s what you should know:
- No ATM or branch access
- Transfers are limited to wire transfers only
- Bill Pay and Zelle services are not available
"The Pibank Savings is designed for saving: Its super-competitive rates and lack of fees makes it the ideal place for your money to grow. And, of course, it’s FDIC-insured." – Pibank USA
Your account is FDIC-insured up to $250,000 per depositor, giving you peace of mind. You can also open multiple accounts, with combined balances supported up to $5,000,000. This makes it a solid choice for securely growing your savings with a high return.
5. BrioDirect (4.45% APY)
BrioDirect, the online division of Webster Bank, N.A., offers a high-yield savings account with an FDIC-insured 4.45% APY (as of April 30, 2025) and easy-to-use digital tools.
Account Requirements
| Requirement | Amount |
|---|---|
| Minimum Opening Deposit | $5,000 |
| Balance to Earn APY | $25 |
| Monthly Maintenance Fee | $0 |
Interest Rate Details
The 4.45% APY is subject to change based on market trends and adjustments to the federal funds rate. To earn this rate, keep a minimum balance of $25. There are no monthly maintenance fees.
Account Management
BrioDirect offers a user-friendly online banking experience. Account holders can:
- Check balances and transactions anytime
- Set up recurring transfers
- Access free e-statements
- Perform ACH transfers, wire transfers, or check deposits
The mobile app simplifies banking, letting you manage your account on the go.
Getting Started
Opening an account is straightforward. You’ll need:
- A smartphone or computer
- Valid contact details
- A government-issued ID
- Your Social Security number
For assistance, customer support is available at 877.369.BRIO. With its competitive rate and digital banking features, BrioDirect provides a convenient way to grow your savings.
Account Comparison Chart
Here’s a breakdown of five top high-yield savings accounts as of May 1, 2025:
| Feature | Varo Bank | Fitness Bank | Axos Bank | Pibank | BrioDirect |
|---|---|---|---|---|---|
| APY | 5.00% | 5.00% | 4.66% | 4.60% | 4.45% |
| Minimum Opening Deposit | $0 | $100 | $250 | $100 | $5,000 |
| Minimum Balance to Earn APY | $0 | $100 | $250 | $25 | $25 |
| Monthly Maintenance Fee | $0 | $0 | $0 | $0 | $0 |
| Mobile App | Yes | Yes | Yes | Yes | Yes |
| Online Banking | Yes | Yes | Yes | Yes | Yes |
| ATM Access | Yes | Limited | Yes | Yes | Yes |
| FDIC Insurance | Yes | Yes | Yes | Yes | Yes |
Key Features at a Glance
- Top APY: Varo Bank and Fitness Bank share the lead with 5.00%.
- Lowest Opening Deposit: Varo Bank offers a $0 minimum.
- No Balance Requirement: Varo Bank also has no minimum balance to earn its APY.
Digital Banking Features
All these accounts come with modern conveniences, including:
- Mobile check deposits
- ACH transfers
- Bill payment options
- Account alerts
- Paperless statements
Important Details
While BrioDirect requires a $5,000 deposit to open an account, you only need to maintain a $25 balance to earn its APY.
This chart gives you a quick overview to help narrow your options. Up next, we’ll explore how to pick the best high-yield savings account for your financial goals.
How to Choose Your Account
Looking at the comparisons above, here’s how to find the best savings account for your needs.
Pick a high-yield savings account that matches your deposit size, withdrawal preferences, and balance habits.
Match Your Starting Deposit
If you’re just getting started, look for accounts with little to no minimum deposit. For those with more to deposit upfront, consider accounts designed for larger balances.
Think About Access
If you need to withdraw cash frequently, make sure the account offers easy ATM access.
Use Your Average Balance to Decide
| Balance Level | Best Account Choice | Why It Works |
|---|---|---|
| Under $100 | Varo Bank | No minimum; competitive APY |
| $100–$1,000 | Fitness Bank | Low minimum; good APY |
| $1,000–$5,000 | Axos Bank | Moderate minimum; strong APY |
| $5,000+ | BrioDirect | Higher minimum; excellent APY |
Beyond your balance, think about tools that simplify saving.
Comfort with Digital Banking
Online banks generally provide better interest rates than traditional banks – often over 4% compared to less than 1%. Decide if you’re comfortable with online-only platforms and check their customer support options.
"A high-yield savings account offers an excellent opportunity to grow your money faster, thanks to competitive interest rates." – HeLa
Features to Look For
- FDIC insurance for your deposits
- Limits on withdrawals
- Automated savings tools
- Reliable customer service
Interest rates can change, so focus on features that align with how you manage your money. Choosing an account that suits your financial habits will help maximize your savings in 2025.
FAQs
What makes high-yield savings accounts better than traditional savings accounts when it comes to interest rates and benefits?
High-yield savings accounts typically offer much higher interest rates than traditional savings accounts, making them an excellent choice for growing your savings. For example, while traditional accounts might offer an average Annual Percentage Yield (APY) of around 0.40%, high-yield accounts often provide rates between 4% and 5% or more. This can result in significantly higher returns over time.
To put it into perspective, if you deposit $10,000 into a high-yield savings account with a 5% APY, you could earn around $2,800 in interest over five years. In contrast, the same amount in a traditional account with an APY of 0.05% might only earn about $50 in ten years. High-yield accounts are a simple way to make your money work harder while still keeping it safe and accessible.
What requirements do I need to meet to earn the high APY rates for the savings accounts listed in the article?
To earn the advertised high APY rates, specific requirements must be met for each account:
- OnPoint Premium Savings: You’ll need to complete six qualifying transactions in an OnPoint checking account and maintain an active OnPoint Loyalty Savings account.
- First Bank Promo Statement Savings: A minimum deposit of $100 in new funds is required to open the account. Existing First Bank customers must deposit at least $10,000 in new funds to qualify.
- SoFi Checking and Savings: To unlock the highest APY, you must set up direct deposit or deposit $5,000 or more every 30 days.
Details for other accounts may vary, so it’s best to confirm the latest requirements directly with the provider.
How does FitnessBank’s step-based APY system work, and what happens if I don’t meet the required step count?
FitnessBank’s step-based APY system offers higher interest rates based on your average daily step count. The more steps you take, the higher your Annual Percentage Yield (APY). If you don’t meet the required step count, your APY may be adjusted to a lower rate for that period.
This system encourages staying active while helping you grow your savings, but it’s important to track your steps regularly to maximize your benefits.
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