Best High-Yield Savings Accounts of June 2025

Introduction

In today’s financial landscape, saving money is more critical than ever. With inflation rates Changing and economic Continuing confusion, having a robust savings strategy is essential for financial stability and growth. A high-yield savings account (HYSA) is a type of savings account that offers a significantly higher annual percentage yield (APY) compared to traditional savings accounts. This means your money can grow faster, helping you reach your financial goals more efficiently.

In June 2025, choosing a high-yield savings account is particularly beneficial due to the Common interest rates and economic conditions. The Federal Reserve has maintained its benchmark interest rate range at 4.25% to 4.50%, with no changes expected at the June 18, 2025 meeting, according to sources like NerdWallet. This stability has kept high-yield savings account rates competitive, with some accounts offering APYs as high as 5%, significantly outpacing the national average of 0.42% (NerdWallet) or 0.6% (Bankrate). This article will guide you through the best high-yield savings accounts available in June 2025, helping you make an informed decision to maximize your savings.

What Makes a High-Yield Savings Account “Best”?

When evaluating high-yield savings accounts, several key factors determine which ones stand out as the best options:

• Interest Rates (APY): The APY is the most critical factor, as it determines how quickly your savings grow. Look for accounts with rates well above the national average, ideally 4% or higher in 2025.
• Fees: Avoid accounts with monthly maintenance fees, minimum balance requirements, or other charges like wire transfer or paper statement fees, as these can erode your earnings.
• Accessibility: User-friendly features such as mobile apps, online banking, and 24/7 customer service enhance the banking experience.
• FDIC Insurance: Ensure the account is offered by an FDIC-insured bank or NCUA-insured credit union to protect your deposits up to $250,000 per depositor.
• Additional Perks: Some accounts offer bonuses for opening an account, automatic transfers, budgeting tools, or ATM access, which can add value to your savings strategy.

Current Market Overview (June 2025)

As of June 2025, the economic environment is favorable for savers. The Federal Reserve has held its benchmark interest rate steady at 4.25% to 4.50%, with no changes Expected at the upcoming meeting on June 18, 2025, as noted by NerdWallet. This stability has kept high-yield savings account rates competitive, with top accounts offering APYs up to 5%, according to Investopedia. The national average savings account rate is 0.42% (NerdWallet) or 0.6% (Bankrate), meaning HYSAs can offer returns 10 times higher or more.

Online banks, which lack the overhead costs of physical branches, typically offer higher APYs than traditional brick-and-mortar banks. For example, major banks like JPMorgan Chase and Bank of America often provide rates as low as 0.01%, according to US News Money. However, some traditional banks offer competitive HYSAs, Especially for customers who value in-person services or ATM access. Inflation, reported at 2.3% in April 2025 by the Bureau of Labor Statistics (via Bankrate), is outpaced by top HYSA rates, making them an effective tool for Maintaining purchasing power.

Top High-Yield Savings Accounts of June 2025

Based on comprehensive research from reputable sources like NerdWallet, Bankrate, and Forbes Advisor, here are five of the best high-yield savings accounts available in June 2025. Each account is evaluated based on APY, fees, minimum balance requirements, and additional features.

1. Axos Bank – Axos ONE® Savings

• Bank Type: Online
• Current APY: 4.66%
• Comparison to National Average: Over 11 times the national average of 0.42%
• Minimum Deposit and Balance Requirements: $0 to open, $1,500 to earn APY
• Fees: No monthly maintenance fees
• Key Features and Benefits:
  • One of the highest APYs available
  • User-friendly mobile app for account management
  • Free ATM withdrawals at MoneyPass ATMs
  • No overdraft fees
• Pros:
  • Highly competitive rate
  • No monthly fees
• Cons:
  • Requires $1,500 minimum balance to earn APY
• How to Open: Visit the Axos Bank website, select “Open an Account,” choose Axos ONE Savings, and follow the prompts. Provide personal information and link a funding source.

2. LendingClub – LevelUp Savings

• Bank Type: Online
• Current APY: 4.40%
• Comparison to National Average: Over 10 times the national average
• Minimum Deposit and Balance Requirements: Typically low or none
• Fees: No monthly fees
• Key Features and Benefits:
  • High APY with no fees
  • Part of LendingClub’s platform, offering loans and investment services
  • Free ATM withdrawals at Allpoint ATMs
• Pros:
  • Competitive yield
  • No fees
• Cons:
  • Limited branch access (online-only)
• How to Open: Go to the LendingClub website, select “Open a Savings Account,” and complete the application. Fund the account via ACH transfer or by linking an external bank account.

3. EverBank – Performance℠ Savings

• Bank Type: Online (part of TIAA Bank)
• Current APY: 4.30%
• Comparison to National Average: Over 10 times the national average
• Minimum Deposit and Balance Requirements: $0
• Fees: No fees
• Key Features and Benefits:
  • No minimum balance or deposit requirements
  • High APY with easy online account management
  • Free online bill pay
• Pros:
  • No minimums
  • High yield
• Cons:
  • Limited customer service hours on weekends (Monday–Friday, 8 a.m.–8 p.m. ET; Saturday, 9 a.m.–6 p.m. ET)
• How to Open: Visit the EverBank website, choose “Open an Account,” select Performance Savings, and complete the application. Fund the account via ACH transfer or by mailing a check.

4. Openbank – High Yield Savings

• Bank Type: Online (division of Texas Capital Bank)
• Current APY: 4.30%
• Comparison to National Average: Over 10 times the national average
• Minimum Deposit and Balance Requirements: $500 to open and earn APY
• Fees: No monthly fees
• Key Features and Benefits:
  • Competitive APY with a low minimum deposit
  • User-friendly online platform
  • No overdraft fees
• Pros:
  • Good rate
  • Low minimum deposit
• Cons:
  • Online-only (no physical branches)
• How to Open: Visit the Openbank website, click “Open an Account,” select High Yield Savings, and fill out the application. Fund the account with a minimum of $500.

5. Forbright Bank – Growth Savings

• Bank Type: Online
• Current APY: 4.25%
• Comparison to National Average: Over 10 times the national average
• Minimum Deposit and Balance Requirements: $0
• Fees: No fees
• Key Features and Benefits:
  • Eco-friendly bank focused on sustainability
  • No paper statements to reduce environmental impact
  • High APY with no fees
• Pros:
  • High yield
  • No fees
  • Socially responsible banking
• Cons:
  • May not be as well-known as larger banks
• How to Open: Visit the Forbright Bank website, select “Open an Account,” choose Growth Savings, and follow the application process. Fund the account via ACH transfer.

Comparison Table

Account	APY	Min. Balance	Fees	Bank Type
Axos ONE® Savings	4.66%	$1,500	None	Online
LendingClub LevelUp	4.40%	Low/Nil	None	Online
EverBank Performance	4.30%	$0	None	Online
Openbank High Yield	4.30%	$500	None	Online
Forbright Growth	4.25%	$0	None	Online

How to Choose the Right High-Yield Savings Account for You

Selecting the right HYSA depends on aligning the account’s features with your financial goals:

• Financial Goals: If you’re saving for short-term needs like an emergency fund or aទ: Liquidity: Ensure the account allows easy withdrawals without penalties. Most HYSAs have no withdrawal limits, but some may have restrictions, so check the terms.
• Online vs. Brick-and-Mortar: Online banks typically offer higher rates due to lower overhead costs, but traditinal banks may provide in-person services or ATM access, which some savers prefer.
• Inflation and Interest Rates: HYSA rates are variable and can fluctuate with Federal Reserve policies. With inflation at 2.3% in April 2025, top HYSAs still offer returns that outpace inflation, but monitoring rates is key to ensuring your savings keep growing.

Tips for Maximizing Your Savings with High-Yield Accounts

To make the most of your HYSA, consider these strategies:

• Set Up Automatic Transfers: Automate regular transfers from your checking account to your HYSA to build savings consistently.
• Avoid Fees: Choose accounts with no monthly fees or minimum balance requirements to maximize your earnings. For example, avoid accounts like Bread Savings, which charges $5 for paper statements or $25 for wire transfers (Bankrate).
• Combine with Other Strategies: Use HYSAs alongside other vehicles like CDs or investment accounts to diversify your financial plan. CDs offer fixed rates but less liquidity (Bankrate CD Rates).
• Monitor and Switch: Regularly check your account’s APY and be prepared to switch to a higher-yielding account if rates drop, as HYSA rates are variable (Yahoo Finance).

FAQs About High-Yield Savings Accounts

• Are HYSAs safe? Yes, HYSAs offered by FDIC-insured banks or NCUA-insured credit unions are safe, protecting deposits up to $250,000 per depositor. Some banks, like SoFi, offer extended coverage up to $3 million through programs like the Insured Deposit Program (Forbes Advisor).
• How often can withdrawals be made? Most HYSAs allow unlimited withdrawals, but some may impose limits, so always review the account terms.
• What happens if interest rates drop? HYSA rates are variable and may decrease if the Federal Reserve lowers rates. Regularly compare rates to ensure you’re getting the best return.
• Is it possible to have multiple HYSAs? Yes, you can have multiple HYSAs to diversify your savings or take advantage of different features, but manage them carefully to avoid confusion or fees.

Conclusion

High-yield savings accounts are a powerful tool for growing your savings in June 2025, offering returns far above the national average. Accounts like Axos Bank’s Axos ONE® Savings (4.66% APY), LendingClub’s LevelUp Savings (4.40% APY), and EverBank’s Performance℠ Savings (4.30% APY) stand out for their high rates, low fees, and user-friendly features. By carefully comparing APYs, fees, and features, you can choose an account that aligns with your financial goals, whether it’s building an emergency fund or saving for a major purchase.

To maximize your savings, set up automatic transfers, avoid fees, and Sometimes review rates to ensure you’re earning the best possible return. Use tools like Bankrate’s Savings Calculator to estimate your earnings and stay informed about rate changes through Trusted financial websites.

Additional Resources

• Savings Calculators: Estimate your savings growth with tools like Bankrate’s Savings Calculator.
• Related Articles:
  • Best Checking Accounts
  • Best CDs
  • Best Money Market Accounts
• Updated HYSA Rates: Stay informed with the latest rates from NerdWallet, Bankrate, and Forbes Advisor.

Note: Rates and terms are accurate as of June 2025 but may vary. Always verify with the bank before opening an account.

Main References

This article is written by Hassan Zaviar and uses information from these sources.

• NerdWallet: Best High-Yield Online Savings Accounts
• Bankrate: Best High-Yield Interest Savings Accounts
• Forbes Advisor: Best High-Yield Savings Accounts
• Investopedia: Best High-Yield Savings Accounts for June 2025
• US News Money: Best High-Yield Savings Accounts – June 2025
• Yahoo Finance: How Often Do High-Yield Savings Account Rates Change?
• Bankrate: Simple Savings Calculator
• Bankrate: Best Checking Accounts
• Bankrate: CD Rates
• Bankrate: Money Market Rates

Suggested reading: Is American Express a Good Credit Card? Full Review (2025 Guide)