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14 high-yield savings accounts with no minimum deposits (up to 5.30% APY)
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In today’s high-rate environment, earning a hefty rate of return on your savings is simple. And, there are lots of interest-bearing account types to choose from, including certificate of deposit (CD) accounts, money market accounts, regular savings accounts and high-yield savings accounts. But as with any type of financial tool, not all deposit accounts are created equal — meaning that not every option will be a good fit for your money.
For example, savers who can leave their money untouched for a while could benefit from the current high rates on CDs, as putting your money into this type of account means you’ll lock in a high rate of interest for the full CD term. That can be a smart option considering that rates could drop soon now that inflation is cooling. However, many CD accounts come with high minimum deposit requirements, and you may not have enough saved up to open one. Or, you may need more flexible access to your funds than a CD can offer.
That’s where high-yield savings accounts can come in handy. These types of accounts work similarly to traditional savings accounts. The big difference is the interest rate. While traditional savings accounts offer an average rate of just 0.36% currently, high-yield accounts offer much higher rates on average. But like CDs, there can be minimum deposit requirements to contend with. So what can you do if you don’t have a lot of money on hand? Well, some high-yield savings accounts offer high returns and no minimums, allowing you to earn big interest without having a big deposit saved up.
Find out what your top high-yield savings account options are now.
14 high-yield savings accounts with no minimum deposits (up to 5.30% APY)
If you’re looking for a high-yield savings account that offers big returns with no minimum deposits, these accounts may be worth considering:
- Peak Bank — 5.30% APY: This account has no minimum deposit requirements to earn the stated interest rate and the monthly service charge is $0. The maximum deposit amount allowed with this account is $10 million.
- Forbright Bank — 5.30% APY: This account has no minimum deposit requirements to earn the stated interest rate and the monthly service charge is $0. There are fees charged for certain types of wire transfers, but there is no maximum deposit amount on this account.
- North American Savings Bank — 5.30% APY: This account has no minimum deposit requirements to earn the stated interest rate. The maximum deposit amount allowed with this account is $2 million.
- Evergreen Bank Group — 5.25% APY: This account has no minimum deposit requirements to earn the stated interest rate and the monthly service charge is $0. The maximum deposit amount allowed with this account is $1 million.
- Jenius Bank — 5.25% APY: This account has no minimum deposit requirements to earn the stated interest rate and the monthly service charge is $0. There is no maximum deposit amount on this account.
- Newtek Bank — 5.25% APY: This account has no minimum deposit requirements to earn the stated interest rate and the monthly service charge is $0. There is no maximum deposit amount on this account.
- UFB Direct — 5.25% APY: This account has no minimum deposit requirements to earn the stated interest rate and the monthly service charge is $0. There are fees charged for certain excessive transfers and certain types of wire transfers, but there is no maximum deposit amount on this account.
- Laurel Road — 5.15% APY: This account has no minimum deposit requirements to earn the stated interest rate and the monthly service charge is $0. There are fees charged for certain types of wire transfers, and the maximum deposit amount allowed with this account is $1 million.
- RBMAX — 5.15% APY: This account has no minimum deposit requirements to earn the stated interest rate and the monthly service charge is $0. There are fees charged for paper statements, and the maximum deposit amount allowed with this account is $250,000.
- Elevault — 5.13% APY: This account has no minimum deposit requirements to earn the stated interest rate and the monthly service charge is $0. The maximum deposit amount allowed with this account is $50,000.
- Bask Bank — 5.10% APY: This account has no minimum deposit requirements to earn the stated interest rate and the monthly service charge is $0. There is no maximum deposit amount on this account.
- BMO Alto — 5.10% APY: This account has no minimum deposit requirements to earn the stated interest rate and the monthly service charge is $0. There is no maximum deposit amount on this account.
- Primis Bank — 5.10% APY: This account has no minimum deposit requirements to earn the stated interest rate and the monthly service charge is $0. There is no maximum deposit amount on this account.
- EverBank — 5.05% APY: This account has no minimum deposit requirements to earn the stated interest rate and the monthly service charge is $0. There is no maximum deposit amount on this account.
Explore today’s best high-yield savings accounts online now.
The bottom line
If you think you need a ton of cash on hand to take advantage of today’s excellent savings rates, think again. The high-yield accounts outlined above offer a good mix of high rates and no minimums, letting nearly any type of saver take advantage of what they offer. But if you want to start earning those big returns, you may want to get started now. There’s at least one Fed rate cut expected in 2024, and when that happens, the rates on these accounts will likely drop in return. Opening one now, though, allows you to start earning hefty returns on your money, making it easier to meet your savings goals over time.
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A picture is emerging of the suspect who officials say pointed a high-powered rifle at former president Donald Trump on a Florida golf course Sunday afternoon.
Ryan Wesley Routh, 58, was armed with an AK-47-style rifle and was 300-500 yards away from Trump when members of the former president’s Secret Service detail spotted him, according to Palm Beach County Sheriff Ric Bradshaw. Routh was a few holes ahead of where the president was golfing at the Trump International Golf Course in West Palm Beach, officials said.
Members of the Secret Service detail opened fire at Routh, according to law enforcement officials. It’s not clear if Routh fired any shots. Bradshaw said a witness saw a man jumping out of the bushes and fleeing in a black Nissan. The car was pulled over and the driver detained and identified as the suspect. Law enforcement found the rifle, a scope, two backpacks with ceramic tile and a GoPro camera in the bushes at the scene.
The FBI and U.S. Secret Service are investigating the incident, which the FBI said “appears to be an attempted assassination of former President Trump.”
As the investigation continues, here’s what we know about Routh:
Stephany Matat / AP
A decades-long criminal history
Routh’s most recent address is listed in Hawaii, but he spent most of his life in North Carolina, according to property records. Routh owned Camp Box Honolulu, a shed-building company, according to his LinkedIn profile. The account also says that he studied at North Carolina Agricultural and Technical State University and graduated in 1998.
Records show his problems with the law go back to the 1990s and include less serious charges, like writing bad checks. But in 2002, he was charged with a felony — possession of a weapon of mass destruction — according to North Carolina Department of Corrections records.
Between 2002 and 2010, Routh was also charged with a number of misdemeanors, including a hit-and-run accident, resisting arrest and a concealed weapons violation, records show.
Suspect criticized Trump online
Routh voted Democratic in the 2024 primary election in North Carolina, and he voted in person, according to the North Carolina State Board of Elections. He appears to be registered as an unaffiliated voter.
His X account, which has now been suspended, included a number of posts about Trump.
“@realDonaldTrump While you were my choice in 2106, I and the world hoped that president Trump would be different and better than the candidate, but we all were greatly disappointment and it seems you are getting worse and devolving,” he wrote in a June 2020 post. “I will be glad when you gone.”
He also referenced the July 13 assassination attempt on Trump in multiple posts, suggesting that President Biden and Vice President Harris should visit the injured and attend the funeral of the Pennsylvania rally-goer who was killed.
A Facebook account under Routh’s name was no longer online on Sunday evening.
Ukraine supporter
Routh was passionate about fighting for Ukraine, even traveling overseas to fight in the country’s war against Russia in 2022.
“I am coming to Ukraine from Hawaii to fight for your kids and families and democracy.. I will come and die for you,” he wrote on X.
In one post on LinkedIn, he shared a photo of himself in Kyiv, Ukraine’s capital.
A CBS News review of Routh’s social media shows his pro-Ukraine views seeped into his public statements as well. He urged people, even those who didn’t have military skills, to take up arms for Ukraine. He was interviewed by several news organizations, including The New York Times and Semafor in 2023, and Newsweek Romania in 2022. He was quoted about his efforts to recruit volunteer fighters to aid Ukraine in its fight against Russia’s invasion, though it wasn’t clear whether he had succeeded.
“This is about good versus evil,” he told Newsweek Romania.
contributed to this report.
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