The Highest Savings Account Rates Today: July 4, 2022 – JulieSimba
The Highest Savings Account Rates Today: July 4, 2022

The Highest Savings Account Rates Today: July 4, 2022

If you’re looking to earn some interest on your money, a high-yield savings account might be worth exploring.

High-yield savings accounts

are available primarily at

online banks

and pay a higher interest rate than traditional savings accounts.

Our best savings accounts guide and best high-yield savings account guide can be great starting points in your research. But if you prioritize finding the highest rates above all else, then this list is for you.

What are the interest rates for savings accounts today?

The FDIC keeps tabs on national rates for interest-earning bank accounts. The average interest rate earned by a savings account right now is 0.08% APY.

We’ve been checking over a dozen financial institutions to keep up with their new rate offerings. Our list includes accounts with much higher interest rates than the national average since online institutions tend to offer high-yield bank accounts.

The most competitive high-yield savings accounts pay over 1.25% APY right now. Keep in mind interest-bearing accounts may change. Savings accounts have a variable interest rate, which means that the rate may fluctuate at any time.


Federal Reserve

also has recently increased the federal funds rate for the third time this year, so savings interest rates are also expected to steadily increase throughout 2022.

Best savings account interest rates

Annual Percentage Yield (APY)

1.80% APY

Minimum Deposit Amount


Annual Percentage Yield (APY)

1.80% APY

Minimum Deposit Amount



  • $25 minimum opening deposit
  • No monthly service fees


  • Must maintain at least $25 in your account daily to earn interest

More Information

  • Must maintain at least $25 in your account daily to earn interest
  • Interest compounded daily and deposited monthly
  • FDIC assured

BrioDirect recently increased the rate of its BrioDirect High-Yield Savings Account to 1.80% APY. The BrioDirect High-Yield Savings Account offers the highest interest rate on our list and might be ideal if you can keep at least $25 in your account daily.

The Bread Savings High-Yield Savings Account is another great high-yield savings account. It could be a good choice if you have at least $100 to get started.

If you haven’t heard of Bread Savings, you might be familiar with Comenity Direct. Comenity Direct has recently been rebranded because its parent company, Bread Financial, has expanded to include lending options.

The Bask Bank Interest Savings Account is also strong high-yield savings account. It doesn’t require a minimum opening deposit and pays 1.61% APY right now.

If you’re looking for a high-yield savings account with a low minimum opening deposit, you might consider exploring UFB High Yield Savings. The savings account pays a high interest rate, and you can open an account with $0.

These institutions only have savings accounts, not

checking accounts

, so you’ll need to link an external bank account to access your money. You might consider other banking options if you’d like to also open a checking account or at least have a debit card option.

CIBC Bank USA is the US division of the Toronto-based Canadian Imperial Bank of Commerce, and also lets you open checking and

money market accounts

if you live in Illinois, Michigan, Missouri, and Wisconsin. You may like the CIBC Agility Account if you have at least $1,000 for a minimum opening deposit.

If you’re comfortable combining your checking and savings into one account, you might consider opening the SoFi Checking and Savings. The hybrid bank account comes with a debit card and you’ll be able to earn 1.50% APY if you set up a direct deposit.

CIT Bank and Quontic Bank also have a variety of online bank accounts.

The CIT Bank Savings Connect Account requires a minimum opening deposit of $100 — you’ll need to open a CIT Bank checking account to qualify for this savings account, though.

Lastly, you may like the Quontic High Yield Savings Account if you have at least $100 for an initial deposit.

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