Best Savings Accounts August 2025

Updated: Aug 7, 2025

These rankings are entirely our own. We are not paid by any of the banks are receive no commission from links.

Bank
Overall
APY
Min. Deposit
Customer Satisfaction
Peak Bank (Envision)
Online-only / high promo APY
4.7
4.35%
Promotional
$100 to open
★★★★☆

Pros

  • Highest promotional APY among peers.
  • Low opening minimum and slick UX.

Cons

  • Promo yields may revert—check terms.
  • No ATMs or physical network.
Editor’s Opinion: Leading choice if you chase yield and can meet the $100 opening threshold. Best for savers who live fully online.
EverBank (Performance Savings)
Established online bank
4.4
4.30%
All balances
$0 to open
★★★☆☆

Pros

  • Very competitive APY with no minimum.
  • Robust online tools and daily compounding.

Cons

  • App/store reviews are mixed, with occasional UX complaints.
  • Rates may be promotional/for new accounts.
Editor’s Opinion: Great no-minimum option if you want high yield with minimal entry friction. Best for digital-first savers.
Rising Bank (HY Savings)
Online bank (Midwest BankCentre)
4.3
4.30%
Promotional
$1,000 to earn
★★★★☆

Pros

  • Strong APY if you meet the $1,000 threshold.
  • Low/minimal fees.

Cons

  • Requires $1,000 minimum.
  • No physical branch network.
Editor’s Opinion: Solid pick for savers who can lock away $1K — good yield but entry isn't barrier-free.
SoFi (Savings)
Fintech with app perks
4.1
Up to 3.80%
Conditional
$0 to open
★★★★☆

Pros

  • Slick app and bundled account perks.
  • No fees and easy to link with SoFi ecosystem.

Cons

  • Top APY requires direct deposit or qualifying funds.
  • APY tiers and conditions may confuse users.
Editor’s Opinion: Ideal for existing SoFi users chasing smooth UX and occasional APY boosts; read the fine print on eligibility.
Marcus by Goldman Sachs (Online Savings)
Reputable bank | simple HYSA
4.0
3.65%
No min • No fees
$0 to open
★★★★☆

Pros

  • Trusted brand, transparent terms.
  • No minimum and fast transfers.

Cons

  • Less flashy app features than fintech competitors.
  • APY not top-tier.
Editor’s Opinion: Dependable and simple — great if you prioritize stability and low friction over chasing the highest rate.
Ally Bank (Online Savings)
Digital bank with great tools
4.2
3.50%
Tiered balances
$0 to open
★★★★☆

Pros

  • Excellent tools (buckets, boosters) and UX.
  • No fees and great customer service.

Cons

  • APY solid but not top-of-market.
  • Online-only banking.
Editor’s Opinion: All-around great experience — best for savers who value functionality and support, not just rate.
Capital One (360 Performance Savings)
Hybrid bank + digital features
3.9
3.50%
No min • No fee
$0 to open
★★★☆☆

Pros

  • No minimums or monthly fees; physical locations available.
  • Strong app and product ecosystem.

Cons

  • APY lower than fintechs/promos.
  • Recent press may affect perception—check latest disclosures.
Editor’s Opinion: Great balance of brand, convenience, and decent yield. Best if you'd like physical access plus digital tools.

Best Savings Accounts