If you’re looking for a safe way to grow your money, a high-yield savings account (HYSA) is one of the best options. Unlike traditional savings accounts with near-zero interest, HYSAs offer 5-10x higher returns, helping your savings grow faster with minimal risk.
In this guide, we’ll compare the best high-interest savings accounts of 2024, including online banks, credit unions, and fintech options. Whether you’re saving for an emergency fund, a down payment, or future goals, these accounts can help you earn more with zero effort.
Top 5 High-Yield Savings Accounts in 2024
1. CIT Bank Platinum Savings
✅ APY: Up to 5.05% (with qualifications)
💰 Minimum Deposit: $100
🔒 FDIC Insured: Yes
Why Choose CIT Bank?
One of the highest APYs available
No monthly fees if balance requirements are met
Strong reputation for online banking
Downsides:
Must maintain $5,000+ for top APY
No physical branches
Best For: Savers with $5K+ who want max returns.
👉 Open CIT Bank Account
2. Ally Bank Online Savings
✅ APY: 4.25%
💰 Minimum Deposit: $0
🔒 FDIC Insured: Yes
Why Choose Ally?
No minimum balance or monthly fees
24/7 customer support
Great mobile app & savings tools
Downsides:
Lower APY than some competitors
Online-only (no cash deposits)
Best For: Easy-access savings with great features.
👉 Open Ally Bank Account
3. Marcus by Goldman Sachs
✅ APY: 4.50%
💰 Minimum Deposit: $0
🔒 FDIC Insured: Yes
Why Choose Marcus?
Backed by Goldman Sachs (trusted name)
No fees & easy transfers
Referral bonus (+1% APY boost for 3 months)
Downsides:
No ATM or checking access
Basic app features
Best For: Hands-off savers who want reliability.
👉 Open Marcus Account
4. Discover Online Savings
✅ APY: 4.30%
💰 Minimum Deposit: $0
🔒 FDIC Insured: Yes
Why Choose Discover?
No fees & 24/7 U.S. support
Strong cashback credit card pairing
User-friendly platform
Downsides:
No physical branches
Slightly lower APY than top rivals
Best For: Those who want a trusted bank + savings combo.
👉 Open Discover Account
5. SoFi Checking & Savings
✅ APY: 4.60% (with direct deposit)
💰 Minimum Deposit: $0
🔒 FDIC Insured: Yes
Why Choose SoFi?
High APY + checking account perks
Early paycheck access (up to 2 days)
No overdraft fees
Downsides:
Requires direct deposit for max APY
No cash deposits
Best For: Hybrid checking/savings users.
👉 Open SoFi Account
Comparison Table: Best High-Yield Savings Accounts
| Bank | APY | Min. Deposit | Fees | Best For |
|---|---|---|---|---|
| CIT Bank | 5.05% | $100 | $0 (if qualified) | High balances ($5K+) |
| Ally Bank | 4.25% | $0 | $0 | Easy-access savings |
| Marcus | 4.50% | $0 | $0 | Reliable, no-frills savings |
| Discover | 4.30% | $0 | $0 | Trusted brand + rewards |
| SoFi | 4.60% | $0 | $0 | Checking + savings combo |
How to Choose the Best High-Yield Savings Account?
Compare APYs – A 0.5% difference can mean hundreds more per year.
Check Fees – Avoid accounts with monthly maintenance fees.
FDIC Insurance – Ensure your money is protected (up to $250K).
Accessibility – Need ATMs? Mobile app? Choose accordingly.
Extra Features – Some offer sign-up bonuses or referral perks.
Final Verdict: Which One Should You Pick?
Want the highest APY? → CIT Bank (5.05%)
Prefer a top-rated app? → Ally or SoFi
Like big bank security? → Marcus (Goldman Sachs)
Pro Tip: Rates change often—check for updates before opening an account.