Best high-yield savings accounts of February 2025 (Up to 4.75%)

Best high-yield savings accounts for February 2025

Note: Annual percentage yields (APYs) shown were updated between Feb. 17 and Feb. 23. All other information is current as of Feb. 24. Bankrate's editorial team validates this information regularly, typically biweekly. APYs may have changed since they were last updated and may vary by region for some products. Bankrate includes only FDIC banks or NCUA credit unions in its editorial listings.

The Federal Reserve held rates steady during its Jan. 28-29 meeting. Before that, the Fed cut rates by 25 basis points — or a quarter of a percentage point — during its December meeting. The federal funds rate continues to rest at a range of 4.25-4.50 percent.

After previous rate cuts, some banks have steadily lowered their savings account yields. This trend is expected to continue if the Fed decides to lower rates in 2025, but savings accounts are still offering rates that outpace the rate of inflation, which is 2.9 percent year-over-year as of December, according to the latest Consumer Price Index.

Savings yields, unlike certificates of deposit (CDs), are generally variable. That noted, you can still currently find savings accounts offering more than 4.5 percent APY.

Although two-thirds of savers earn APYs that aren’t competitive, it’s not hard to find a high-yielding account at an online-only bank. These banks also typically don’t require a set minimum balance or charge monthly service fees.

The top three factors to look for when choosing a high-yield savings account are:

Below are a few important features to consider when searching for a high-yield savings account. When choosing which account is right for you, also take a look at Bankrate’s expert reviews of popular banks, many of which offer high-interest savings accounts.

Who should get an online high-yield savings account?

A high-yield savings account is a good choice for anyone who wants to earn a competitive yield on their savings account to boost their savings potential.

A good time to get a savings account is when: 

• You’re not earning any interest – or you’re earning a low APY – in your current bank account.
• You don’t have an emergency fund, or you have your emergency fund commingled with your checking account.

High-yield savings accounts can be a good choice for nearly anyone because they don’t often require any minimum opening deposit, may not require any ongoing minimum balance, and you can find accounts that do not charge monthly service fees. Anyone can benefit from a high-yield savings account, regardless of their stage of life and their money-related goals. Here are a few examples:

Meet our Bankrate experts 

Written by: Matthew Goldberg, Senior Consumer Banking Reporter

Matthew is a senior consumer banking reporter with more than two decades of journalism and financial services expertise, helping readers make informed decisions about their personal finance needs. His banking career includes being a banker in New York City and a bank officer at one of the nation's largest banks. Matthew is currently a member of the Board of Governors at the Society for Advancing Business Editing and Writing (SABEW), chairing its training member engagement committee and is co-chair of its Finance Committee.

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Edited by: Marc Wojno, Senior Editor, Banking 

I’ve been a personal finance writer and editor for more than two decades specializing in money management, deposit accounts, investing, fintech and cryptocurrency. Throughout the years of crunching numbers and words, I’ve been passionate about helping readers make informed decisions on managing their money with uniquely helpful advice. I have an MBA from George Washington University, and am an active member of both the National Press Club and SABEW, where I’ve volunteered as a judge for their respective journalism awards programs. Recently, I was elected Treasurer of the Society of Professional Journalists’ SDX Foundation (Washington, DC chapter), raising scholarship money for aspiring young journalists.

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Reviewed by: Greg McBride, CFA, Chief Financial Analyst, Bankrate

Greg McBride is a CFA charterholder with more than a quarter-century of experience analyzing banking trends and personal finance. As Bankrate's Chief Financial Analyst, he leads the team that researches and provides guidance on savings vehicles, from high-yield savings accounts to CDs. Through Bankrate.com's Money Makeover series, he has helped consumers develop their saving habits, maximize their returns on deposit accounts, and make smart decisions about where to keep their cash. He is frequently quoted by major media outlets on banking trends and Federal Reserve policy impacts on deposit rates. 

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Research methodology

Bankrate’s editorial team is made up of five banking experts. These experts have researched numerous banks and at least twice a month review bank websites to make sure readers stay up to date on the latest rates and bank products.

We select banks that have high annual percentage yields (APYs), low minimum balances, banks that have highly-rated apps and banks that are popular and broadly available. We also include some of the largest banks, to help readers compare those to online-only banks.