7 Best High-Yield Savings Accounts of October 2025 (Up to 5.50% APY)
7 Best High-Yield Accounts of October 2025 (Up to 5.50% APY)
Last Updated: October 26, 2025
We manually verify all rates weekly. Data is accurate as of today.
Looking for the best place to park your emergency fund or short-term savings? High-yield Cash Reserve accounts (HYSAs) are paying up to 5.25% in October 2025 — that’s 10–20x more than traditional banks.
We’ve tested and compared 20+ online banks to bring you the 7 best high-yield cash reservs accounts that are FDIC-insured, fee-free, and easy to use.
Quick Comparison: Top 7 High-Yield Savings Accounts
| Bank | APY | Min. Deposit | Fees | Best For |
|---|---|---|---|---|
| UFB Direct | 5.25% | $0.00 | None | Highest yield, no fees |
| Milli Bank | 5.20% | $1.00 | None | New users, mobile banking |
| Bask Bank | 5.10% | $1.00 | None | Travelers (earn airline miles) |
| CIT Bank | 5.05% | $100.00 | None | Established, reliable |
| Popular Direct | 5.00% | $100.00 | None | Larger deposits ($10k+) |
| Sallie Mae Bank | 4.75% | $1.00 | None | Students & young savers |
| Ally Bank | 4.25% | $0.00 | None | Trusted brand, great UX |
All accounts listed are FDIC-insured up to $250,000.
1. UFB Direct – Best Overall:
- APY: 5.25%
- Min. to Open: $0
- Monthly Fees: None
- FDIC Insured: Yes
- Why We Love It: Highest APY on the market with zero fees and no minimum balance. UFB Direct is a division of Axos Bank, a trusted online bank.
Best for: Anyone who wants the absolute highest return with no strings attached.
👉 Open UFB Direct Savings Account
2. Milli Bank – Best for New Users
- APY: 5.20%
- Min. to Open: $1
- Monthly Fees: None
- FDIC Insured: Yes (via Evolve Bank & Trust)
- Why We Love It: Sleek mobile app, instant account opening, and one of the highest rates for a new fintech.
Best for: Tech-savvy savers who want a modern banking experience.
3. Bask Bank – Best for Travelers
- APY: 5.10%
- Min. to Open: $1
- Monthly Fees: None
- FDIC Insured: Yes (via MetaBank)
- Why We Love It: Earn American Airlines AAdvantage® miles instead of cash interest — perfect if you fly often.
Best for: Frequent travelers who want to boost their mileage balance.
👉 Open Bask Interest Savings Account
4. CIT Bank – Best Established Option
- APY: 5.05%
- Min. to Open: $100
- Monthly Fees: None
- FDIC Insured: Yes
- Why We Love It: Over 100 years in business. Reliable, transparent, and consistently high rates.
Best for: Conservative savers who value stability.
5. Popular Direct – Best for Large Balances
- APY: 5.00%
- Min. to Open: $100
- Monthly Fees: None
- FDIC Insured: Yes
- Why We Love It: Offers bonus APY tiers for balances over $10,000.
Best for: Savers with $10k+ who want extra yield.
6. Sallie Mae Bank – Best for Students
- APY: 4.75%
- Min. to Open: $1
- Monthly Fees: None
- FDIC Insured: Yes
- Why We Love It: No minimums, great for young adults, and easy integration with student accounts.
Best for: College students and recent grads.
7. Ally Bank – Best User Experience
- APY: 4.25%
- Min. to Open: $0
- Monthly Fees: None
- FDIC Insured: Yes
- Why We Love It: Award-winning app, 24/7 customer service, and a trusted name in online banking.
Best for: Beginners who want simplicity and reliability.
How to Open a High Savings Account (Step-by-Step)
- Compare offers (like the ones above)
- Visit the official bank website (never apply through third parties)
- Prepare your ID, SSN, and a funding source (checking account or debit card)
- Complete the online application (takes <10 minutes)
- Fund your account and start earning interest immediately
FAQ: High-Yield Savings Accounts
❓ Are high-yield savings accounts safe?
Yes! All banks listed are FDIC-insured up to $250,000 per depositor.
❓ Can the APY drop?
Yes — rates change with the Federal Reserve. We update this list weekly to reflect current offers.
❓ Do I pay taxes on the interest?
Yes. If you earn more than $10 in interest, you’ll receive a 1099-INT form for tax filing.
❓ Can I have multiple savings accounts?
Absolutely! Many savers use one for emergency funds, one for travel, etc.
Final Thoughts
In today’s high-rate environment, there’s no reason to leave your cash in a 0.01% savings account. With options like UFB Direct (5.25% APY) and Milli Bank (5.20% APY), you can earn hundreds or thousands more per year — risk-free.
💡 Pro Tip: Rates change fast. Bookmark this page — we update it every week.
Disclaimer: Yieldoom.com is not a financial advisor. This content is for informational purposes only. Rates and terms are subject to change. Always verify details on the official bank website before opening an account. We may earn a small commission if you apply through our links, but this never affects our editorial independence.
One Comment