14 best high-interest CDs and savings accounts today: Money market accounts paying 4.21% APY
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The average interest rate paid by a savings account right now is
Today, the best online institution for earning a competitive interest rate on a high-yield savings account is MySavingsDirect, which pays
We've been checking over two dozen financial institutions to keep up with their new rate offerings. Our best savings accounts guide and best high-yield savings account guide can also be great starting points in your research — but if you prioritize finding the highest rates above all else, this list is for you.
Below, you'll find some of the most competitive interest rates for savings accounts, CDs, high-yield checking accounts, and money market accounts.
Best interest rates for savings accounts
MySavingsDirect Savings Account
Why it stands out: MySavingsDirect is an online division of Emigrant Bank. The
Savings rate:
What to look out for: The
Other online banks may have ATM or debit cards which permit direct access to money in a savings account.
UFB Best Savings
Why it stands out: UFB Direct is an online division of Axos Bank.
Savings rate:
What to look out for: Customers with existing savings accounts may have to call customer service to get upgraded to the newest rate.
It also may not be easy to deposit cash at UFB Direct. You'll have to see if there are cash-accepting ATMs in your area.
Popular Direct High-Rise Savings
Why it stands out: You might like
Savings rate:
What to look out for:
Popular Direct only has savings accounts and CDs. Since there's no checking account, you won't be able to directly access money in your savings account. Instead, you'll need to transfer an external bank account, which could take a few business days to process.
Best interest rates for CDs
Popular Direct Certificate of Deposit
Why it stands out: Popular Direct pays high interest rates on CDs. Its 3-month and 6-month CDs, in particular, stand out for their competitive interest rates.
Rates: The rates for Popular Direct CDs are as follows:
3 months: 4.05% APY
6 months: 4.50% APY
1 year: 4.75% APY
18 months: 4.65% APY
2 year: 4.60% APY
3 year: 4.60% APY
4 year: 4.47% APY
5 year: 4.55% APY
What to look out for: The bank requires a high minimum deposit of
CFG Bank Certificate of Deposit
Why it stands out: CFG Bank CDs are a strong choice for a 1-year, 18-month, or 3-year CD. You only need
Rates: The rates for CFG Bank CDs are as follows:
1 year:
18 month:
3 year:
5 year:
What to look out for: CFG Bank doesn't have many CD terms to choose from — there are only 12-month, 18-month, 36-month, or 60-month CDs.
CIT Bank Term Certificate of Deposit (CD)
Why it stands out: CIT Bank pays a much higher interest rate on its 6-month and 18-month CDs than many brick-and-mortar and online banks.
Rate: The rates for CIT Bank are as follows:
- 6 months:
CIT Bank 6 Month Term Certificate of Deposit - APY APY - 1 year: 0.30% APY
- 13 months:
CIT Bank 13 Month Term Certificate of Deposit - APY APY - 18 months:
CIT Bank 18 Month Term Certificate of Deposit - APY APY - 2 years: 0.40% APY
- 3 years: 0.40% APY
- 4 years: 0.50% APY
- 5 years: 0.50% APY
What to look out for: If you're searching for CDs over 2 years, you'll likely find more competitive interest rates at other financial institutions.
Signature Federal Credit Union Certificate
Why it stands out: Signature Federal Credit Union lets you open an account with
Signature Federal Credit Union's most appealing term is its 6-month share certificate, which pays a competitive interest rate compared to CDs at other financial institutions.
Rate: The rates for Signature Federal Credit Union share certificates are as follows:
- 3 months: 1.75% APY
- 6 months:
Signature Federal Credit Union 6 Month Certificate - APY APY - 9 months: 2.75% APY
- 1 year: 3.75% APY
- 18 months: 3.90% APY
- 2 years: 3.60% APY
- 3 years: 3.75% APY
- 4 years: 3.75% APY
- 5 years: 4.00% APY
Signature Federal Credit Union also has a limited-time premium 3-year CD. This is a promotional CD that pays
What to look out for: To open a share certificate at Signature Federal Credit Union, you must become a member first. The easiest way to become a member is to enroll in the American Consumer Council. Then you'll just need to open a savings account.
Quorum Federal Credit Union Term Savings
Why it stands out: Quorum Federal Credit Union offers a competitive interest rate on a 2-year CD.
You'll earn 4.60% APY with a minimum deposit between
Rate: The rates for Quorum Federal Credit Union
3 months: 1.70% APY
6 months: 1.95% APY
1 year: 2.10% APY
13 month (new money only):
18 month: 2.10% APY
2 year:
3 year: 2.20% APY
4 year: 2.25% APY
5 year: 2.35% APY
Keep in mind if you deposit $100,000 or more in a Term account, you'll earn an additional 0.10% APY to the rate listed.
What to look out for: To open a bank account at a credit union, you'll need to become a member first. At Quorum, you or a family member have to work for a Select Employee Group on this list, or you must join the American Consumer Council or Select Savers Club.
Pentagon Federal Credit Union Money Market Certificate - Product Name Only
Why it stands out: You may like Pentagon Federal Credit Union if you're searching for 1-year, 15-month, or 18-month certificates. These terms offer higher interest rates than share certificates at other financial institutions.
Rate: The rates for Pentagon Federal Credit Union Money Market Certificates are as follows:
- 6 months: 2.70% APY
- 1 year:
Pentagon Federal Credit Union 1 Year Money Market Certificate - APY APY - 15 months:
Pentagon Federal Credit Union 15 Month Money Market Certificate - APY APY - 18 months:
Pentagon Federal Credit Union 18 Month Money Market Certificate - APY APY - 2 years: 4.45% APY
- 3 years: 4.10% APY
- 4 years: 3.90% APY
- 5 years: 3.90% APY
- 7 years: 3.80% APY
What to look out for: The early withdrawal penalties for some terms are a bit steep compared to other banks. You'll have to pay one year of interest for long-term certificates if you withdraw money in the first year, or 30% of the interest that you would have earned if your certificate reached the end of its term if you take out money after the first year.
Another thing to keep in mind is that credit unions require membership to open accounts. The easiest way to join is to simply open a savings account with a $5 minimum deposit.
Best interest rates for checking
Consumers Credit Union Free Rewards Checking Account
Why it stands out: The
You'll get the most out of the account if you do the following:
- Earn 3.00% APY if you have less than $10,000 when you sign up to receive eDocuments, make 12 monthly debit card purchases, and receive $500 in monthly direct deposits, mobile check deposits, or transfers from other banks
- Earn 4.00% APY if you meet the requirements to earn 3% and spend $500 per month with your Consumers Credit Union Credit Card
- Earn 5.00% APY if you meet the requirements to earn 3% and spend $1,000 per month with your Consumers Credit Card
- Earn 0.20% APY if you have an account balance between $10,000.01 and $25,000 when you receive eDocuments, make 12 monthly transactions, and receive $500 per month in direct deposits, mobile check deposits, or transfers from other banks
- Earn 0.10% APY if you have an account balance over $25,000 when you receive eDocuments, make 12 monthly transactions, and receive $500 per month in direct deposits, mobile check deposits, or transfers from other banks
If you don't meet the requirements, you'll only earn 0.01% APY on your account balance.
Rate:
What to look out for: Credit unions require membership to open accounts. To become a member, pay a one-time membership fee and open the
Juno Metal Checking Account
Why it stands out: Juno has a solid rewards checking account. The rate you'll earn will vary depending on your account balance. You can earn up to a 5% yearly bonus on the first $10,000 in your account, and 3% on balances from $10,0001 to $250,000. You'll also be able to earn 5% cash back when you shop at select retailers, and buy and sell cryptocurrency through Juno.
Rate:
What to look out for: Juno has two types of accounts: Basic and Metal. The main difference between the two accounts is that the
To qualify for Metal, you'll need to maintain a qualifying direct deposit of $250 or more per month or connect your Web3 Wallet so Juno can review your on-chain activity.
Personal Capital Cash Account
Why it stands out: The
To earn 3.90% APY, you must be a Personal Capital advisory client. Otherwise, you'll earn 3.85% APY.
Rate:
What to look out for: Personal Capital only offers a cash management account, which is an alternative option to traditional checking and savings accounts. If you would like to open different types of accounts — for example, a money market account or CD — you might consider a bank or credit union instead.
Best interest rates for money market accounts
UFB Best Money Market Account
Why it stands out: You may like the
You'll earn a high interest rate on the account, but there's a $10 monthly service fee if you don't maintain an account balance of at least $5,000.
Rate:
What to look out for: If you don't think you can maintain at least $5,000 in your account to avoid the monthly service fee, there are other banks that have lower minimum balance requirements or no monthly service fees.
Keep in mind that UFB Direct only offers a high-yield savings account and a money market account. If you would also like to open a checking account or CD with the same institution, another bank may be a better fit.
Vio Bank Cornerstone Money Market Savings Account - Product Name Only
Why it stands out: The
Rate:
What to look out for: Usually money market accounts come with an ATM card, debit card, or paper checks, but the