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Best savings accounts of October 2024

Updated Oct. 7, 2024

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Opening a savings account allows savers to secure their funds in a safe place, capitalize on current interest rates and maintain liquidity for emergencies. Currently, the top savings account annual percentage yields (APY) range from 4.10 percent to 5.30 percent, with LendingClub offering the highest rate at 5.30 percent APY. This is roughly nine times higher than today's national average of 0.57 percent.

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Current savings trends
Bankrate Partner average
4.62% APY
National average
0.57% APY

Best savings account rates for October 2024

Note: Annual percentage yields (APYs) shown were updated between Oct. 7 and Oct. 13. All other information is current as of Oct. 7. 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 listings.

Bread Savings

Bread Savings_logo
Rating: 4.9 stars out of 5
4.9

Overview

Bread Savings is an online bank that offers a high-yield savings account and five terms of CDs. Bread Savings requires at least $100 to open this account, which is a lot lower than the $1,500 required to open one of its CDs. The Bread Savings account doesn’t have a monthly service fee or minimum balance requirements after your opening deposit.
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5.10% APY
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$0 min. balance for APY
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$100 min. deposit to open

EverBank

EverBank_logo
Rating: 5 stars out of 5
5.0

Overview

The EverBank Performance℠ Savings account earns more than the national average APY. There’s no minimum deposit required to open the account.
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5.05% APY
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$0 min. balance for APY
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$0 min. deposit to open

Bask Bank

Bask Bank_logo
Rating: 4.7 stars out of 5
4.7

Overview

Bask Bank is known for its Bask Interest Savings account. It’s also known for a unique account, the Bask Mileage Savings account, where you can earn American Airlines miles.  Bask Bank, a division of Texas Capital Bank, made its debut in early 2020 with its Mileage Savings Account. In February 2022, Bask introduced its Interest Savings Account, which offers a very competitive yield and doesn’t require a minimum opening deposit.
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4.85% APY
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$0 min. balance for APY
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$0 min. deposit to open

CIT Bank

CIT Bank_logo
Rating: 4.6 stars out of 5
4.6

Overview

CIT Bank is known for offering multiple savings accounts. CIT Bank’s Platinum Savings account earns the highest yield on balances of $5,000 or more, while the Savings Connect account can be opened with just $100. These accounts don't charge a monthly maintenance fee. CIT Bank also has most of the other bank accounts a person could need, including a checking account, a money market account and CDs.
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4.70% – 4.85% APY
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$5,000 min. balance for APY
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$100 min. deposit to open

Popular Direct

Popular Direct_logo
Rating: 4.8 stars out of 5
4.8

Overview

Popular Direct is known for having some of the highest savings yields and much higher minimum deposit requirements than most other online banks. A Popular Direct Select Savings account is opened through Popular Bank. You’ll need to deposit at least $100 to open the account, but there’s no monthly maintenance fee. Popular Direct also offers mobile deposit.
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4.85% APY
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$100 min. deposit to open

CIBC Bank USA

CIBC Bank USA_logo
Rating: 4.9 stars out of 5
4.9

Overview

CIBC Bank USA is currently known for offering a competitive yield on its CIBC Agility Online Savings Account, which charges no monthly service fee. The bank also is known for offering CDs that have a slightly higher yield. Its savings account has a much lower minimum opening deposit amount of $1,000.
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4.61% APY
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$0 min. balance for APY
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$1,000 min. deposit to open