Compare Best High Yield Savings and CDs

Unleash the Power of High-Yield Accounts

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Welcome to Credit and Cents, your trusted resource for maximizing savings and financial security. Many people unknowingly settle for low-interest savings accounts when high-yield savings accounts (HYSAs) can earn them significantly more over time. According to the FDIC, the national average savings rate is only 0.39% APY (as of December 15, 2025), meaning most people are missing out on potential earnings. Rates are trending down due to Fed’s interest rate cuts. Act now to benefit from the current high APYs before further rate cuts by the Fed.

Featured Accounts:

The Best High-Yield Savings Accounts: Credit and Cents’ Top Picks

If you’re looking for a secure, high-return savings option, these top-rated high-yield savings accounts are among the best choices. They offer some of the highest APYs available today, with FDIC insurance up to $250,000 per depositor, per bank.

Savings Accounts APY Comparison of major online banks:

Rates are as of 3/4/26

Savings Accounts APY Comparison of major US Banks (online vs major brick and mortar banks):

Rates are as of 3/4/26

Savings Accounts APY Comparison of major brokerage firms:

Rates are as of 3/4/26

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On Valley Bank Direct’s site

It takes less than 10 minutes to start saving. Open a Valley Direct account now.

12-month Introductory Promotion:  To be eligible for the 12-month introductory promotion on a Valley Direct High Yield Savings account, the account must be opened by a new Valley National Bank (“Valley”) customer, which means all account holders must have no other Valley personal checking or savings accounts or certificates of deposit, including Valley Direct accounts and certificates of deposit, within the one-year period preceding the date of account opening. 

Click Here to Learn More 

On CIT Bank’s site

Best No-Penalty Certificate of Deposit Accounts (CDs)

Rates for Ally Bank, and Bank of America are as of 3/4/26

The no-penalty CD rates are trending down. Act now to take advantage of the current high rates.

¹APY — Annual Percentage Yield is accurate as of January 9, 2026. $1,000 minimum to open the account. With a No-Penalty CD, you may withdraw the total balance and interest earned, without penalty, beginning 7 days after funds have been received for your CD. No withdrawals are permitted during the first 6 days following the receipt of funds. Trusted Banks with Strong Reputations

• CIT Bank: A division of First Citizens Bank, CIT Bank is one of the largest family-controlled banks in the U.S., with over $100 billion in assets. It has been recognized for exceptional customer experience and top-tier savings products. 
• Valley Bank: Established in 1927, Valley Bank has $64 billion in assets and is one of the most reputable financial institutions in the country. Its Valley Direct division offers some of the best online high-yield savings options.

¹Platinum Savings is a tiered interest rate account. Interest is paid on the entire account balance based on the interest rate and APY in effect that day for the balance tier associated with the end-of-day account balance. *APYs — Annual Percentage Yields are accurate as of January 9, 2026: 0.25% APY on balances of $0.01 to $4,999.99; 3.75% APY on balances of $5,000.00 or more. Interest Rates for the Platinum Savings account are variable and may change at any time without notice. The minimum to open a Platinum Savings account is $100.

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12 Month – CD from Valley Bank Direct

Open a market leading 6 month CD from CIT Bank

Takeaway: If you need liquidity and flexibility, choose a high-yield savings account. If you can lock away funds, CDs offer guaranteed interest rates.

How do your savings compare?

Experts recommend having at least 3-6 months’ worth of living expenses in savings. 

Bookmark our site so that you can remain informed about high CD and Savings account rates as we are currently in a rate changing environment for high yield accounts.

Our Featured High Yield Savings Accounts

Received a Tax Refund, Stimulus Payment, or looking to start a savings account to meet a savings goal within a short period?  Check out below our featured high yield savings accounts from CIT Bank, Upgrade Bank, and Valley Direct Bank.

Independent product ratings are included with each product description (where available).

Online High Yield Savings Account from Valley Direct – A great option for you to earn high interest rates

It takes less than 10 minutes to start saving. Open a Valley Direct account now.

• 95+ years of helping people save

• 24/7 online and mobile access

• FDIC insured

• No monthly maintenance fees

Start Earning Now at Valley Bank Direct

CIT Bank Platinum Savings

If you’re looking to grow your savings while avoiding stock market volatility, the CIT Bank High Yield Platinum Savings Account is an ideal choice. The higher your balance, the more you will earn. Earn the high rate below with balance of $5,000 or more and enjoy the benefits:

Tier                                                  APY                      Multiplier

Balance over $5,000                     3.75%¹                         9x²

Balance less than $5,000             0.25%¹                         N/A

• Tiered account

• $100 minimum account opening

• Member FDIC

• No Monthly Service fees

• No account opening fees

Disclosures:

¹Platinum Savings is a tiered interest rate account. Interest is paid on the entire account balance based on the interest rate and APY in effect that day for the balance tier associated with the end-of-day account balance. *APYs — Annual Percentage Yields are accurate as of January 9, 2026: 0.25% APY on balances of $0.01 to $4,999.99; 3.75% APY on balances of $5,000.00 or more. Interest Rates for the Platinum Savings account are variable and may change at any time without notice. The minimum to open a Platinum Savings account is $100.

For a complete list of account details and fees, see our Personal Account disclosures.

Click to Start Earning Now at CIT Bank

CIT Bank Savings Connect – Ideal for those looking to save for any purpose

APY                 Multiplier

3.65%¹             9x²

• $100 minimum account opening

• Member FDIC

• No Monthly Service fees

• No account opening fees

• This product received a high rating of 4.5/5 (Nerdwallet.com)

Disclosures:

¹APY — Annual Percentage Yield is accurate as of January 9, 2026. Interest Rates for the Savings Connect Account are variable and may change at any time without notice. The minimum to open a Savings Connect account is $100. Fees could reduce earnings on the account.

²Based on comparison to the national average Annual Percentage Yield (APY) on savings accounts as published in the FDIC National Rates and Rate Caps, accurate as of February 17, 2026.

For a complete list of account details and fees, see our Personal Account disclosures.

Start Earning Now at CIT Bank

Are you saving enough? Read our blog on average savings by age and income. 

Savings Calculator

Use our savings calculator below to help you with your savings goals:

Certificate of Deposits (CDs)

For Savers who are looking to lock in their APY for a set period of time while earning a Market Leading APY with flexibility.

CIT Bank 11- Month No-Penalty CD – Peace of Mind: No Penalty. No Problem. Earn 3.75% APY¹

• 11 month locked in rate

• No penalty to access funds if needed before maturity²

• No opening or maintenance fees

• Easy access to your account 24/7 on your computer or with the CIT Bank mobile app.

• Daily compounding interest to maximize your earning potential

• FDIC insured

Start Earning Now at CIT Bank 

Disclosures:
¹ APY — Annual Percentage Yield is accurate as of January 9, 2026. $1,000 minimum to open the account.
² With a No-Penalty CD, you may withdraw the total balance and interest earned, without penalty, beginning 7 days after funds have been received for your CD. No withdrawals are permitted during the first 6 days following the receipt of funds.

For a complete list of account details and fees, see our Personal Account disclosures.

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Frequently asked questions

What does annual percentage yield (APY) mean?

Deposit accounts (Savings, Checking, Money Market, CD) rates are quoted in terms of APY, which is the effective annual interest return after taking into account the effect of compounding interest (assuming that the deposit balance does not change). 

Is my money safe in an online savings account?

Yes, online accounts are safe. Most online financial institutions are federally insured by the Federal Deposit Insurance Corporation up to $250,000 per depositor.

What is the difference between a savings account and a money market account?

Although savings and money market accounts offer similar APYs, money market accounts usually require higher balances to avoid monthly fees, if any. Due to these deposit requirements, the money market accounts tend to offer a higher APY than savings accounts.

How often do high savings rates change?

Since the rates (APYs) are variable, the rates can change at any time. Typically, financial institutions adjust their APYs based on their competitors’ actions or when the Federal Reserve hikes or cuts the interest rates. However, in times of low inflation, saving accounts’ APYs usually remain unchanged. Your online bank will usually notify you whenever the high yield savings rate (APY) changes.

How often can I take money out of a high-yield savings account?

Typically, financial institutions limit the number of certain kinds of withdrawals from any type of savings account to a maximum of six per month. Exceeding the six transactions per statement cycle can result in being charged an excess withdrawal fee each time the limit is exceeded. However, on April 24, 2020, the Federal Reserve allowed providers to eliminate this cap. Contact your financial institution’s customer service line to find out if it has eased restrictions.

Why trust Credit and Cents?

Credit and Cents provides market research and market-leading products to empower our readers to make informed decisions about their money. Experts with extensive industry knowledge of credit and deposit products compile our comparison charts and product reviews. Although Credit and Cents earns a commission from affiliate partners, our product reviews are based on our research without influence from outside third parties.

Credit and Cents is an affiliate partner for CIT Bank (a division of First Citizens Bank), and Valley Direct Bank (a digital only subsidiary of Valley Bank). 

We provide competitive research and product information so that you can apply for the high-yield account that makes the best sense for you.  All accounts are opened on the Bank sites only (no customer information is collected on the Credit and Cents site).

Stay Informed

Bookmark Credit and Cents to stay updated on top savings and CD rates. Your financial future starts now—act today and secure the highest returns possible!

✅ Best APYs available today ✅ No monthly fees ✅ FDIC insured up to $250,000

Still have questions about whether a High-Yield Savings account is right for you?  Read our blog on what to look for when opening a High-Yield Savings Account.

Did you find the information that you were looking for? Email us if you have any general product questions at ccmarketing@creditandcents.com.

About Valley Bank

Founded in 1927, Valley Bank is a regional bank with $64 billion in assets. It is among the most reputable financial institutions in the industry and one of the largest banks in the US. 

Valley Bank has more than 200 branch and commercial banking locations across Alabama, Florida, New Jersey, New York and California. 

About CIT Bank

CIT Bank, a division of First Citizens Bank, stands as a trustworthy institution with a rich legacy of strength and stability. It’s the largest family-controlled bank in the US, boasting over $100 billion in assets. Recognized for exceptional customer experience and a high rating by Nerdwallet.com and Bankrate.com, CIT Bank is committed to your financial well-being.

CIT Bank was ranked #1 by the American Banker magazine for customer experience. 

Overall, CIT Bank receives 4.0/5 (by Nerdwallet.com), and a high 4.3/5 (by Bankrate.com).

“If you’re looking for bank accounts with higher earning potential, CIT Bank may be a great option. The combination of competitive rates and low minimum opening deposits makes CIT an attractive option for online banking.

Its money market account earned CIT a spot on Forbes Advisor’s The Best Money Market Accounts 2021.” – Forbes Advisor (January 26, 2021)

CIT Bank’s awards include:

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