High-Yield Savings Account Rates for May 2024 (Up to 5.55%)

Looking for a high return on your savings?

Current rates are much higher than the national average, offering you the potential to significantly grow your money.

This guide highlights some of the top savings accounts available nationwide, with Annual Percentage Yields (APY) reaching up to 5.55%.

Here’s what you’ll find:

  • Top Rates: Accounts offering the highest APYs currently available.
  • Account Details: Key features of each highlighted account, including minimum deposits, fees, and ATM access.
  • Additional Resources: Information on money market accounts, a similar savings option.

Top High-Yield Savings Account Rates

  • My Banking Direct – 5.55% APY
  • Poppy Bank – 5.50% APY
  • BrioDirect – 5.35% APY
  • Several other banks – Rates ranging from 5.15% to 5.30% APY

Choosing the Right Account

While rates are important, consider these factors when selecting a savings account:

  • Minimum deposit requirements to open and earn the advertised APY.
  • Ongoing balance requirements to maintain the APY.
  • Monthly fees that may apply.
  • ATM access availability.
  • Mobile check deposit options for convenience.

Account Details

In-depth information about several high-yield savings accounts is presented in the full version of this guide (not shown here). This includes details on opening deposits, minimum balances, ATM access, and other features offered by each bank.

Money Market Accounts

The guide also explores money market accounts, which may offer similar features to savings accounts but may have limitations on withdrawals.

Find the Perfect Savings Account

By considering your needs and the details provided, you can choose the high-yield savings account that best suits your financial goals.