5 of the best high-yield savings accounts with no minimum balance

With federal interest rates high — and Another potential rate hike On the horizon — now is a great time to save.

But also among the best High Yield Savings Account Without fees or other costs, there can be a significant barrier to entry. Some of these accounts require steep minimum deposits or running balances to open your account or earn interest. If you don’t already have $1,000 or even $5,000 to deposit into your new account, you won’t qualify for the interest it offers.

That’s why you should check all the details of a new account before opening it. There are many competitive high-yield accounts today — some even offer close to that Maximum available APYs – There is no minimum requirement for this. To earn interest with these accounts, all you have to do is open it and deposit any amount.

Find out how much you could earn with today’s top savings rates here.

Best high-yield savings account with no minimum balance

Below, we’ve gathered a few High Yield Savings Account Available to you right now with no minimum balance requirements. Not only do these accounts offer no fees and easy access, but they also earn some of the best interest rates you’ll find today.

The accounts below are also FDIC-insured per bank up to $250,000 per depositor and against bank failure, so you don’t have to worry. Security of your balanceis

UFB Direct: 5.06% APY

At 5.06% APY, UFB’s Priority Savings Account earns one of the best rates available from an online savings account. There is no minimum deposit required when you open an account and there are no monthly fees You can also get a complimentary ATM card for cash withdrawals — an unusual perk among high-yield savings accounts.

TAB Bank: 5.02% APY

TAB Bank’s 5.02% APY is also the best available today. There is no minimum deposit required to open this account. Minimum balance required to earn APY is only $0.01 daily. In other words, you have to deposit some amount to earn interest on it.

Basque Bank: 4.85% APY

The Interest Savings Account from Bask offers a cool 4.85% APY today. There is no minimum balance required to open an account or earn interest. However, you need to deposit some amount within 15 days of opening to avoid closure of your account.

Citizen Access: 4.50% APY

Citizens Access has a competitive high-yield savings account that earns 4.50% APY. This account only requires a $0.01 minimum deposit — meaning, basically, you’ll need to make some sort of deposit when you open the account, but there’s no significant minimum.

Synchrony Bank: 4.50% APY

Synchrony Bank’s online high-yield account has a straightforward appeal to users: the account requires no minimum deposit, no minimum balance and no monthly fees. The balance you keep in the account will earn 4.50% APY today.

Explore today’s highest-earning savings accounts with minimums that work with your budget!

What to Look for in a Savings Account

If you are in the market for one High Yield Savings Account In today’s high rate environment, there are a few factors that can help you determine the right account for you.

First things first: look at the APY. mostly Competitive Accounts Online banks are earning at least 4.00% APY today, with many now exceeding 4.50% or 5.00%. If the Fed decides to raise rates again at its next meeting, it could rise further.

You’ll want to find any Monthly fee Which can reduce your interest income. Even a few dollars each month can add up over time. And, as we described above, minimum balance requirements can also be important. If you don’t already have one a large amount To transfer to your new account, it may disqualify you for its benefits.

Finally, Find account details Which can make it easier for you to reach your savings goals. This may include the number of transfers allowed per month, automation options and how you can access your cash. Some accounts even have added features such as online or mobile tools or capabilities Group your balances Towards different savings goals.

Start comparing the high-yield savings options available to you here now.

Bottom line

now one Great time to start saving — and doing that starts with finding the best account. To get started, look for accounts that can help you score among the top rates available today, as much 4.50% to 5.00% APY. But other account details are also important. If you don’t already have a significant balance, you may want to start your search with high-yield savings accounts that have no minimum deposit or balance requirements.

Find the top savings rates you can qualify for today here!