Asked by: Chandler Halvorson | Last update: October 7, 2025 Score: 4.8/5
(72 votes)
At present, there aren't any banks offering 7% APY on savings accounts. If you're looking for maximum returns from a bank, the best you can hope to earn is in the range of 4% to 5% on a high-yield savings account (HYSA), certificate of deposit (CD), or money market account (MMA).
Which bank pays 7% interest on savings accounts?
You can apply for a Regular Saver via our App or Online Banking, and we'll get you set up within 3 working days. This account is only available to first direct 1st Account customers. Find out more about our 1st Account. Our Regular Saver gives you a 7.00% AER/Gross p.a.
Where can I get 7% interest on my savings?
There are no national or community banks offering 7% interest on a savings account right now.
What bank currently has the highest savings interest rate?
Best High-Yield Savings Account Rates for January 2025
Pibank – 4.75% APY.
Openbank – 4.75% APY*
BrioDirect – 4.75% APY.
Fitness Bank – 4.75% APY*
Newtek Bank – 4.70% APY.
TotalBank – 4.67% APY.
Popular Direct – 4.60% APY.
Vio Bank – 4.56% APY.
Which bank is giving the highest savings interest rate?
List of Savings Accounts with Highest Interest Rates
Sr. No. ...
Ujjivan Small Finance Bank. Up to 7.50% [w.e.f. 15th November, 2023]
RBL. Up to 7.50% [w.e.f. 21st August, 2023]
Digibank by DBS. Up to 7% [w.e.f. 10th October, 2023]
IDFC. Up to 7% [w.e.f. 1st October, 2023]
Bandhan Bank. ...
Yes Bank. ...
IndusInd Bank.
Know THIS Before You Open a High Yield Savings Account
29 related questions found
Which Bank gives 8% interest?
Bandhan Bank is a leader among private banks, offering 8.05% interest for 1-year fixed deposits. RBL Bank offers 8.00% on FDs with a tenure of 500 days, ensuring that medium-term investors also get good returns.
Where can I get 5% on my money?
Money Market Accounts
You can most often find money market accounts with a 5% APY through online financial institutions. Since interest tiers are common, banks may require a minimum balance of up to several thousand dollars to get the best money market account APY.
What is the best savings account at the moment?
Best regular savings accounts
First Direct doesn't only pay the best rate, but it also allows for the biggest monthly deposit. This means if you're purely looking for the highest return each month from a regular savings account, you won't find a better offer than First Direct.
Where to put $10,000 for best interest?
A stocks and shares Isa is likely to be most suitable. That is unless you will turn 55 within 30 years, in which case a pension might be a better tax wrapper for you. If you're unsure about the time horizon, you could invest in both a pension and a stocks and shares Isa.
Can you get 7% on a CD?
While there aren't any financial institutions paying 7% on a CD right now, there are other banks and credit unions that pay high CD rates. Compare today's top CD and savings rates.
How much interest will $50000 earn in a savings account?
A sum of $50,000 in cash can earn about $195 a year in an average bank savings account or as much as $2,300 if you put it into a high-quality corporate bond fund. Other options include money market accounts, money market funds, certificates of deposits and government and corporate bonds.
Which US bank gives 7% interest on savings account?
For the foreseeable future, you won't find any banks that offer 7% APY on savings accounts. However, you can find some credit unions that pay 7% or more on checking accounts. Before opening an account, take a close look at the terms and conditions to determine whether you can earn the advertised rate.
Where can I get a 10% return on my money?
Here's my list of the 10 best investments for a 10% ROI.
How to Get 10% Return on Investment: 10 Proven Ways.
Invest in the Private Credit Market.
Paying Down High-Interest Loans.
Stock Market Investing via Index Funds.
Stock Picking.
Junk Bonds.
Fine Art + Collectibles.
Buy an Existing Business.
Where is the safest place to put your money in the stock market?
Dividend-paying stocks
Dividend stocks are considered safer than high-growth stocks, because they pay cash dividends, helping to limit their volatility but not eliminating it. So dividend stocks will fluctuate with the market but may not fall as far when the market is depressed.
Can I get 6% on a CD?
Yes, you can get 6% on a CD now. As of January 10, 2025, the Financial Partners Credit Union is offering 6.00% APY on their CD rates for 8 months. The minimum deposit is $1,000.00, up to a $5,000 maximum. Check out the latest CD rates from over 400 banks and credit unions.