Best high-yield savings accounts of April 2025 (Up to 4.45%)

Best high-yield savings accounts for April 2025

The Federal Reserve held rates steady during its March 18-19 meeting. The federal funds rate continues to rest at a range of 4.25-4.50 percent.

In remarks addressed to financial journalists on April 4, Fed Chair Jerome Powell referenced President Donald Trump’s increased trade tariffs and their possible effects on the economy. “Looking ahead, higher tariffs will be working their way through our economy and are likely to raise inflation in coming quarters,” Powell said.

Powell stated it’s difficult right now to assess effects of higher tariffs until more details surface, and for now, officials “are well positioned to wait for greater clarity before considering any adjustments” to their policy stance.

Increased inflation due to tariffs isn’t likely to push inflation to heights it reached after the pandemic, says Stephen Kates, CFP®, Bankrate financial analyst. “Therefore the most likely scenario is a hawkish Fed that holds rates steady. If inflation abates due to falling consumer spending and reduced GDP, while unemployment rises, then I think the Fed will begin to cut again. However, given recent comments about slower growth and higher inflation, I expect the committee to remain in a pause for multiple meetings.”

After three rate cuts in late 2024, the Fed has held its benchmark rate steady so far in 2025. The best high-yield savings accounts continue to offer rates above 4 percent APY. These rates are still outpacing the annual rate of inflation, which is 2.4 percent as of March, according to the latest Consumer Price Index (CPI) reading.

Don’t be one of the two-thirds of savers who earns a low APY. It’s not hard to find a high-yielding account, especially 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.

Read more from Matthew Goldberg

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.

Read more from Marc Wojno

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. 

Read more from Greg McBride

Research methodology

Bankrate researches over 100 banks and credit unions, including some of the largest financial institutions, online-only banks, regional banks and credit unions with both open and restrictive membership policies.

To find the best high-yield savings accounts, we rated these institutions on their savings account’s APYs, monthly fees, minimum deposit requirements, access to funds and more.

The highest-rated savings accounts from broadly-available banks and credit unions, that also had the highest APYs, made our list. Learn more about our methodology for reviewing banks.