#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.
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
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.
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!
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.
Still Looking? Check These Out:
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
Bank Name: Capital One - physical branches available
APY: 4.25%
Withdraw Limit:$1,000
Transfer Time: 1-3 Days
Customer Service: 8-11pm EST
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
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
Bank Name: UFB Direct - online only
APY: 5.25%
Minimum Balance: 0
Withdraw Limit: $500
Transfer Time: 5 days
Customer Service: 24/7 Virtual
Bank Name: MyBankingDirect - online only
APY: 5.55%
Minimum Balance: 500
Transfer Time: 2-3 days
Customer Service: 24/7 Virtual
Bank Name: Bask Bank - online only
APY: 5.1%%
Minimum Balance: 0
Withdraw Limit: $500
Transfer Time: 3-5 days
Customer Service: Monday-Saturday
