Top 5% Interest Savings Accounts

While rates aren’t as high as a few years ago, it’s still pretty easy to locate 5% interest savings accounts or ones that are nearly 5%.

However, these high-interest accounts don’t always give you that high rate automatically. Be prepared to meet certain requirements to get those sky-high rates.

10 accounts that earn around 5% interest

Compare some of the best rates available from banks, credit unions and fintechs, including Greenlight, Varo, Uphold, Wealthfront and more.

• Revolut terms and conditions

  Revolut is not a bank. Fees may apply. Banking services are provided by Lead Bank, Member FDIC. The Revolut USA Prepaid Visa and Prepaid Mastercard are issued by Lead Bank pursuant to licensing by Visa® U.S.A. Inc. and Mastercard International for Mastercard cards. Your funds are FDIC insured up to $250,000 through Lead Bank, Member FDIC, in the event Lead Bank fails. See revolut.com/en-US/ for more details.
  
  The Annual Percentage Yield (APY) is a variable rate and may change at any time. APYs are accurate as of 29 September 2025. APYs vary by plan and account type. The rates are as follows:
  Standard Plan: 4.00% APY for balances in a High Yield Account; 3.25% APY for balances in other Savings Accounts.
  Premium Plan: 4.50% APY for balances in a High Yield Account; 3.35% APY for balances in other Savings Accounts.
  Metal Plan: 5.50% APY for balances in a High Yield Account; 3.75% APY for balances in other Savings Accounts.
  Plan fees and cancellation fees apply for Premium and Metal plans. T&Cs apply. No min balance to open; $0.01 min. to earn APY. Only 1 High Yield Account is permitted and is limited to $10,000 USD in user initiated deposits. The max combined balance of all Savings Accounts is $250,000 per user. Savings Account services provided by Cross River Bank, Member FDIC, insured up to $250,000.

What is considered a high-yield savings account?

For the most part, a high-yield savings account is the same as a regular savings account — it’s just an account with a much higher rate than average.

You can also consider inflation rates when searching for the best savings account. The current US inflation rate is 3%, and the US national average rate for savings accounts is 0.38%.^{(1) (2)}

If you can land a savings account with a rate above both inflation and national averages, your saved funds can passively grow and successfully keep up with inflation.

Are there interest accounts with rates over 5%?

Yes, but finding an account with a rate over 5% will prove difficult.

Accounts with rates over 7% pop up from time to time. You may also be able to find accounts with rates over 12% if you look outside the US, choose an investment account or open a large certificate of deposit (CD).

For example, the BCU Powerplus Checking account has a very high promotional 8% APY for three months on up to $15,000. After the promotional period is over, the interest rate becomes 4%, but that’s still a great rate for an interest-bearing checking account.

Bottom line

Most financial institutions don’t offer 5% interest savings accounts. If that’s something you’re really after, you’ll likely need to compare online banks. Since online banks don’t have to pay to maintain physical branches, they tend to pass those savings onto their customers through better interest rates on savings products compared to traditional institutions.

Compare more savings accounts to find the ideal one for your situation and goals.

Frequently asked questions

Are high-yield savings accounts a scam?

No, high-yield savings accounts are very much real deposit accounts with high interest rates. In terms of functionality, high-yield savings accounts are the same as traditional savings accounts, though high-yield accounts are usually offered by online banks. Both high-yield and traditional savings accounts may come with withdrawal limitations, don’t come with debit cards for spending and earn interest on your balance.

Why do banks offer 5% APY?

Savings accounts earn interest as a way to incentivize customers to hold their deposits with them. In other words, banks offer 5% APY savings accounts as a way to attract new customers and set themselves apart from the average competition.

Are there any catches with 5% savings accounts?

There can be some catches with a 5% savings account, such as needing to set up direct deposit, meet an opening deposit requirement or hold an average minimum balance. However, legitimate 5% savings accounts will offer the rate they advertise as soon as you meet the requirements.

To make sure you get accurate and helpful information, this guide has been edited by Holly Jennings as part of our fact-checking process.

Written by

Bethany Hickey

Banking editor

Bethany Hickey is the banking editor and personal finance expert at Finder, specializing in banking, lending, insurance, and crypto. Bethany’s expertise in personal finance has garnered recognition from esteemed media outlets, such as Nasdaq, MSN, Yahoo Finance, GOBankingRates, SuperMoney, AOL and Newsweek. Her articles offer practical financial strategies to Americans, empowering them to make decisions that meet their financial goals. Her past work includes articles on generational spending and saving habits, lending, budgeting and managing debt. Before joining Finder, she was a content manager where she wrote hundreds of articles and news pieces on auto financing and credit repair for CarsDirect, Auto Credit Express and The Car Connection, among others. Bethany holds a BA in English from the University of Michigan-Flint, and was poetry editor for the university’s Qua Literary and Fine Arts Magazine. See full bio

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