CIT Bank Platinum Savings: 5.05% (with $5,000 minimum balance) APY.Valley Direct High Yield Savings Account: 5.25% APY.Customers Bank High Yield Savings Account, powered by Raisin: 5.30% APY.BrioDirect High-Yield Savings Account: 5.35% APY.Savings accounts offering at least 5% are considered competitive. Is a 7% savings account worth it? Learn more about how a 7% interest rate savings account works, and whether you should bother opening an account with such a high rate.įeatured Nationally Available High-Yield Savings Account and CD Rates
The average interest rate on a savings account is 0.43% APY ( Annual Percentage Yield), but many institutions are paying significantly higher rates - and two are even paying over 7% interest. Plenty of high-yield savings accounts pay over 5% APY on your total balance without making you jump through hoops.īanks have been increasing their savings rates for well over a year now.However, these are both checking accounts with limitations on eligible balances. Two credit unions pay over 7% APY on accounts right now: Landmark Credit Union and OnPath Rewards High-Yield Checking.
