The national average savings rate is stuck at 0.38%, but top high-yield savings accounts are still offering 4%+ APY. We compared CIT Bank, Zynlo, Western Alliance Bank, and EverBank to find the best accounts for different needs — whether you have $5,000 to park or want to start with $1.
If your savings account is earning 0.38% APY — the national average — you're leaving money on the table.1 High-yield savings accounts (HYSAs) from online banks are still offering rates above 4%, with no monthly fees and FDIC insurance up to $250,000.
We looked at the current market, pulled data from NerdWallet and Bankrate, and picked four accounts that stand out for different reasons.1
CIT Bank's Platinum Savings account earns up to 4.10% APY, which is among the highest rates available right now.2 The catch: you need a balance of at least $5,000 to earn that top tier rate. Below that, the rate drops to a lower tier, so this account is best if you can keep a healthy balance.
On the plus side, there are no monthly maintenance fees, and CIT Bank supports Zelle for easy transfers.1 If you're sitting on a solid emergency fund and want maximum yield, this is the pick.
Zynlo offers a highly competitive rate with no minimum balance requirement to earn the advertised APY and no monthly fees.1 That makes it a great choice if you're just starting to build your savings or don't want to worry about keeping a certain balance.
You get the full rate from dollar one, which is rare in this space.
Western Alliance Bank requires just a $1 minimum opening deposit and offers competitive yields with easy access to your money.1 If you want a low barrier to entry and the flexibility of a traditional bank experience (online), this is a solid option.
EverBank (formerly TIAA Bank) offers performance-focused high yields with a standout perk: ATM fee reimbursements.1 If you need occasional access to cash from your savings without eating fees, this account gives you more flexibility than most HYSAs.
| Account | APY | Min. Balance for APY | Key Perk |
|---|---|---|---|
| CIT Bank Platinum Savings | Up to 4.10% | $5,000 | Zelle integration |
| Zynlo Bank | Competitive | $0 | No minimum to earn APY |
| Western Alliance Bank | Competitive | $1 | Low opening deposit |
| EverBank | Competitive | Varies | ATM fee reimbursements |
CIT Bank earns the top spot because 4.10% APY is the highest rate we found across both NerdWallet and Bankrate's latest data.1 It's a straightforward account for people who already have $5,000+ saved.
Zynlo is our pick for anyone who doesn't want to track a minimum balance. You get the full rate with no strings attached.
Western Alliance is the most accessible — a $1 minimum means there's no barrier to opening an account and starting to earn a high yield.
EverBank rounds out the list because ATM fee reimbursements are genuinely useful if you want to treat your HYSA as more than just a lockbox.
Disclosure: AskBuy may earn a commission if you open an account through links on this page. This does not affect our recommendations — we only recommend accounts we've researched and verified through independent sources like NerdWallet and Bankrate.
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