By Alex Rivera | PennyWiseUSA.blog | November 3, 2025
Tired of your bank paying peanuts on savings? The national average is a measly 0.40% APY. But in November 2025, you can snag up to 5.00% — that’s 12x more!
I switched $10K to a high-yield account last year. Earned $450 in interest vs. $40 at my old bank. With Fed rates at 3.75-4.00% after the October cut, now’s the time before they drop more.
I scoured 370+ accounts (NerdWallet, Forbes, Bankrate data). Here’s the top 10 — FDIC-insured, no fees, updated Nov 3, 2025.
| Bank | APY | Min Deposit | Why Choose |
|---|---|---|---|
| Varo Bank | 5.00% | $0 | Top rate! (up to $5K with direct deposit) |
| Axos Bank Rewards | 4.51% | $0 | Boost with checking |
| Climate First Bank | 4.46% | $0 | Eco-friendly |
| AdelFi Credit Union | 5.00% | $25 | Easy join |
| SoFi Savings | 4.50% | $0 | Great app + loans |
| Ally Bank | 4.20% | $0 | Round-ups + buckets |
| American Express HYSA | 4.30% | $0 | Trusted brand |
| UFB Direct | 4.21% | $0 | No fees |
| Capital One 360 | 3.40% | $0 | ATM access |
| Barclays Online | 3.76% | $0 | Simple transfers |
Pro Tips:
- Switch Easy: Link old bank, transfer in 3 days.
- Compound Magic: $5K at 4.50% = $225/year.
- Taxes: Report interest over $10 (Form 1099).
- Avoid: Big banks like Chase (0.01%).
My Pick: Varo for beginners. Opened in 5 mins, $200 bonus potential.
Questions? hello@pennywiseusa.blog
Alex Rivera
Founder, PennyWiseUSA.blog
X: @pennywiseusa