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12 best high-yield savings accounts to open this September (up to 5.50% APY)
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Quite a bit of emphasis has been put on the earning potential of certificate of deposit (CD) accounts over the last few years — which makes sense given today’s high-rate environment. After all, opening the right CD account in this environment means that your money will earn a high fixed rate of interest for the full CD term. That has resulted in big (and guaranteed) returns for the savers who have capitalized on the opportunity, as many short- and long-term CDs offer rates of 4.5% to 5.5% or higher.
But while CDs can be a great option for locking in a top-notch annual percentage yield (APY) on your money, they aren’t always the right choice. When you put your money in a CD, one of the trade-offs is that you’re agreeing to leave it untouched until the account matures. Otherwise, you’re typically stuck paying a hefty early withdrawal penalty that can eat into your earnings substantially. So, those savers who need more flexibility or more access may not find CDs to be a good fit.
Luckily, CDs aren’t the only good option to consider. High-yield savings accounts, which offer much higher APYs compared to regular savings accounts but the same easy access to your money, are another good option currently. While these accounts don’t lock in your rate — rather, the interest rate is variable — it’s possible to open one with a rate that’s as high or higher than what you would get with a CD. The key is to know where to look and that starts with the accounts outlined below.
Get started by opening one of today’s best high-yield savings accounts now.
12 best high-yield savings accounts to open this September
If you want to maximize the returns on your savings this September, it could be worth opening one of these accounts:
- Betterment — 5.50% APY: This account does not have a minimum opening deposit requirement and there are no minimum balance requirements to earn the advertised APY.
- Poppy Bank — 5.50% APY: This account does not have a minimum opening deposit requirement but there is a minimum balance requirement of $1,000 to earn the advertised APY.
- Flagstar Bank — 5.35% APY: This account does not have a minimum opening deposit requirement but there is a minimum balance requirement of $25,000 to earn the advertised APY.
- My Banking Direct — 5.35% APY: This account has a $500 minimum opening deposit requirement and there is a minimum balance requirement of $1 to earn the advertised APY.
- BrioDirect — 5.30% APY: This account has a $5,000 minimum opening deposit requirement and there is a minimum balance requirement of $25 to earn the advertised APY.
- Forbright Bank — 5.30% APY: This account does not have a minimum opening deposit requirement and there are no minimum balance requirements to earn the advertised APY.
- Ivy Bank — 5.30% APY: This account has a $2,500 minimum opening deposit requirement and there is a minimum balance requirement of $2,500 to earn the advertised APY.
- North American Savings Bank — 5.30% APY: This account does not have a minimum opening deposit requirement and there are no minimum balance requirements to earn the advertised APY.
- Evergreen Bank Group — 5.25% APY: This account has a $100 minimum opening deposit requirement but there is no minimum balance requirement to earn the advertised APY.
- Newtek Bank — 5.25% APY: This account does not have a minimum opening deposit requirement and there are no minimum balance requirements to earn the advertised APY.
- TIMBR — 5.25% APY: This account has a $1,000 minimum opening deposit requirement but there is no minimum balance requirement to earn the advertised APY.
- CloudBank 24/7 — 5.22% APY: This account has a $1 minimum opening deposit requirement and there is a minimum balance requirement of $1 to earn the advertised APY.
Compare your high-yield savings options and start earning more today.
The bottom line
In today’s high-rate environment, savers have multiple options to make their money work harder. While CDs offer guaranteed returns, high-yield savings accounts provide an attractive alternative for those seeking both competitive rates and flexibility. With APYs reaching up to 5.50%, these accounts offer an opportunity to maximize your savings without sacrificing access to your funds. By carefully considering your financial goals and comparing the various options available, you can choose the savings vehicle that best suits your needs and take full advantage of the current interest rate landscape.
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Paul Whelan, freed in prisoner swap with Russia, tells other American detainees: “We’re coming for you”
Washington — Nearly seven weeks after the Russians handed over Paul Whelan on a tarmac in Ankara, Turkey, the Marine veteran stood on the steps of the U.S. Capitol with a message for other Americans who are held abroad.
“We’re coming for you,” he told reporters Tuesday night after he met with lawmakers. “It might take time, but we’re coming.”
Whelan said he spoke with lawmakers about how the government can better support detainees after they’re released.
“We spoke about how the next person’s experience could be better,” he said. “What the government could do for the next person that’s held hostage and comes home — the care and support that other people might need, especially people that are in a worse situation. There are people coming back that lived in the dirt without shoes for three years, people that were locked up in hideous conditions for 20 years. They need support.”
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The U.S. secured Whelan’s release in August in one of the largest prisoner swaps since the end of the Cold War. The complex deal came after months of sensitive negotiations between the U.S., Russia, Germany, Slovenia, Poland and Norway.
As part of the deal, Russia released 16 prisoners while the Western countries released eight Russians. Whelan was released alongside Wall Street Journal reporter Evan Gershkovich, Russian-American radio journalist Alsu Kurmasheva and Vladimir Kara-Murza, a U.S. green card holder and Kremlin critic.
Whelan, who had been the longest-held American detainee in Russia, was arrested in December 2018 when he traveled to the country to attend a friend’s wedding. He was convicted of espionage in a secret trial and sentenced to 16 years in prison in 2020.
Whelan, his family and the U.S. government vehemently denied that he was a spy and accused Russia of using him as a political pawn. The U.S. government considered him to be wrongfully detained, a rare designation that put more government resources toward securing his release.
But a deal to secure his freedom was long elusive. He remained behind bars as Russia freed Marine veteran Trevor Reed and women’s basketball star Brittney Griner — both of whom were detained after Whelan’s arrest — in prisoner swaps with the U.S.
The U.S. said it pushed for his inclusion in both exchanges, but Russia refused. It led to Whelan advocating for his own release from a remote prison camp, calling government officials and journalists to make sure that he wasn’t forgotten.
When the plane carrying Whelan, Gershkovish and Kurmasheva landed in Maryland on Aug. 1, Whelan was the first to disembark. He was greeted by President Biden, who gave Whelan his American flag pin, and Vice President Kamala Harris.
“Whether he likes it or not, he changed the world,” Rep. Haley Stevens, a Michigan Democrat, told reporters Tuesday.
Whelan’s case and his family’s constant pressure on the U.S. government brought more attention to the cases of Americans who are wrongfully detained by foreign governments.
Haley said Whelan is a reminder to other Americans considering traveling to Russia that “you have a target on your back.”
Whelan said it’s been an adjustment acclimating to life back in the U.S., especially learning the latest technology like his iPhone 15.
“I was in a really remote part of Russia,” he said. “We really didn’t have much. The conditions were poor. The Russians said the poor conditions were part of the punishment. And coming back to see this sort of thing now is a bit of a shock, but it’s a good shock.”