💰Top 10 High-Yield Savings Accounts for May 2025

Hey Cashed In Crew,

You’ve been putting in the work—budgeting, cutting unnecessary expenses, and setting financial goals. Now, it’s time to let your money do some heavy lifting.

High-Yield Savings Accounts (HYSAs) are a fantastic way to grow your savings faster, thanks to their superior interest rates compared to traditional savings accounts.

In this newsletter, we’re spotlighting five HYSAs for higher $$$$ savings and five for beginner savings that are making waves in May 2025. Whether you’re just starting out or looking to maximize your existing savings, there’s an option here for you.

Remember, the key to building wealth isn’t just about saving—it’s about making strategic moves that align with your financial goals. Let’s get that money working for you!

💰 HYSAs for Higher Balances

• Varo Bank – 5.00% APY

  • Requirements: $1,000 in monthly direct deposits and an accompanying Varo Bank Account.

  • APY Details: 5.00% APY on balances up to $5,000; balances above earn 2.50% APY.

  • Perks: No monthly fees.

  • Link: Varo Bank High-Yield Savings Account

• Fitness Bank – 5.00% APY

  • Requirements: Maintain an average daily step count of 10,000 (tracked via their app) and a $5,000 average daily balance in an Elite Checking account.

  • Perks: Unique integration of fitness goals with financial rewards.

  • Link: Fitness Bank Savings Account

• Axos Bank – 4.66% APY

  • Requirements: $1,500 in monthly qualifying direct deposits or $5,000 in monthly qualifying deposits that are not direct deposits.

  • Perks: No minimum balance to open; includes ATM card and mobile check deposit.

  • Link: Axos Bank High-Yield Savings Account

• Pibank – 4.60% APY

  • Requirements: No minimum balance or deposit requirements.

  • Perks: Straightforward account with no monthly fees.

  • Link: Pibank High-Yield Savings Account

• Openbank – 4.40% APY

  • Requirements: $500 minimum deposit to open; $500 minimum balance to earn APY.

  • Perks: No monthly maintenance fees; FDIC-insured.

  • Link: Openbank High-Yield Savings Account

🌱 HYSAs for Modest Balances

• Forbright Bank Growth Savings

  • APY: 4.25%

  • Minimum to Open: $0

  • Monthly Fees: None

  • Why It’s Great: Offers a competitive rate with no minimum balance requirements, making it accessible for all savers.

  • Link: Forbright Bank Growth Savings Account

• American Express® High Yield Savings Account (I personally use them)

  • APY: 3.70%

  • Minimum to Open: $0

  • Monthly Fees: None

  • Why It’s Great: Backed by a reputable institution, this account offers a solid rate with no fees or minimum balance requirements.

  • Link: American Express High-Yield Savings Account

• Capital One 360 Performance Savings™

  • APY: 3.60%

  • Minimum to Open: $0

  • Monthly Fees: None

  • Why It’s Great: Provides a consistent rate across all balances with user-friendly online and mobile banking features.

  • Link: Capital One 360 Performance Savings Account

• EverBank Performance℠ Savings

  • APY: 4.30%

  • Minimum to Open: $0

  • Monthly Fees: None

  • Why It’s Great: Offers a high APY with no minimum deposit, and includes additional banking products for comprehensive financial management.

  • Link: EverBank Performance Savings Account

• Live Oak Bank Savings

  • APY: 4.40%

  • Minimum to Open: $0

  • Monthly Fees: None

  • Why It’s Great: Features a competitive rate with no minimum balance, and is known for its straightforward online banking experience.

  • Link: Live Oak Bank Savings Account

If you enjoyed this newsletter be sure to shout us out on social platforms as our FREE VIP member! Your support is appreciated ❤️

Stay empowered,

Mo Money