#Buy Proud: Best High Yield Savings Accounts of July 2024

A high yield savings account can help you fast-track your savings goals. Here are some of the best options for July 2024.

#Buy Proud: Best High Yield Savings Accounts of July 2024
Photo by Annie Spratt / Unsplash

What is a High Yield Savings Account?

In our opinion, everyone who uses a savings account should make sure to sign up for one with high yield benefits. These bank accounts offer a higher APY (Annual Percentage Yield)  than traditional savings accounts, meaning that as you save, your money grows! Take a look at our top picks and check out our additional recommendations. We did the research on the basics to save you time and help you make an informed decision. 

Note:

- All banks recommended are FDIC insured.

-Rates and special offers listed are subject to change. 


Queerency’s Top Picks

Forbright Bank
Forbright Bank

Bank Name: Forbright Bank - online only

Check it out: Want to grow your savings AND help the environment? Forbright Bank is Fossil Free Green Business Certified, meaning they pledge not to finance fossil fuel companies and projects. Customers can enjoy 5.3% APY, no minimum deposit required, and unlimited transfers.

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NexBank
NexBank

Bank Name: NexBank powered by Raisin - online only

Check it out: NexBank supports its local communities through nonprofit organizations that provide housing and community development, essential services, financial literacy, and education programs for individuals and families in need. They offer a 5.26% APY and only require a dollar to sign up!

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Bread Savings
Bread Savings

Bank Name: Bread Savings - online only

Check it out: Bread Savings offers a 5.15% APY, requires a $100 deposit to sign up and offers customer care on weekends and most holidays. 

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Still Looking? Check These Out:

Western Alliance Bank
Western Alliance Bank

Bank Name: Western Alliance - online only

APY: 5.31%

Minimum Balance: $500

Transfer Time: 1-3 Days

Customer Service: Mon - Fri: 6 am - 6pm MST

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Capital One Bank
Capital One Bank

Bank Name: Capital One - physical branches available

APY: 4.25%

Withdraw Limit:$1,000

Transfer Time: 1-3 Days

Customer Service: 8-11pm EST

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CIT Bank
CIT Bank

Bank Name: CIT Bank - online only

APY: 5%

Minimum Balance: $100 to open, $5000 for 5.05 APY

Transfer Time: 2 days

Customer Service: Monday through Friday: 9:00 a.m. - 9:00 p.m. (ET) Saturday: 10:00 a.m. - 6:00 p.m. (ET) Sunday: Closed

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Discover Bank
Discover Bank

Bank Name: Discover Bank - online only

APY: 4.25%

Minimum Balance: 0

Withdraw Limit: $510

Transfer Time: 14 days for initial balance transfer, then 1-4 days

Customer Service: 24/7 Call Center

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UFB Direct

Bank Name: UFB Direct - online only

APY: 5.25%

Minimum Balance: 0

Withdraw Limit: $500

Transfer Time: 5 days

Customer Service: 24/7 Virtual

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MyBankingDirect
MyBankingDirect

Bank Name: MyBankingDirect - online only

APY: 5.55%

Minimum Balance: 500

Transfer Time: 2-3 days

Customer Service: 24/7 Virtual

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Bask Bank
Bask Bank

Bank Name: Bask Bank - online only

APY: 5.1%%

Minimum Balance: 0

Withdraw Limit: $500

Transfer Time: 3-5 days

Customer Service: Monday-Saturday

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