The best high-yield savings accounts with no minimum balance requirement combine competitive APYs, zero monthly fees, easy access, and strong mobile features. Based on current offerings, these accounts stand out:
- Ally Bank Online Savings – 4.50% APY with no minimum balance, no monthly fees, excellent mobile app with check deposit, and a highly-rated customer service experience. Offers savings buckets for organizing funds and round-up features to accelerate savings.
- Capital One 360 Performance Savings – 4.35% APY with no minimums or monthly fees. Features physical branch access in some locations, top-rated mobile app, and seamless integration with Capital One checking accounts for instant transfers.
- SoFi Checking and Savings – 4.60% APY with direct deposit (4.00% without), no minimum balance, and cash-back rewards on debit card purchases. Their hybrid checking/savings account provides both high yields and daily spending functionality.
- Discover Online Savings – 4.30% APY, no minimum balance requirements, no monthly fees, and excellent customer service. Features a highly-rated mobile app and first-class website interface.
When choosing between these options, consider these additional factors:
- Access methods – Some online banks offer ATM cards directly linked to savings while others require transfers to checking first
- Transfer speed – How quickly you can move money between your savings and external accounts
- Additional tools – Features like savings goals, automated savings rules, and spending insights
- Customer service options – Availability of phone, chat, and email support
All of these accounts are FDIC-insured up to $250,000 per depositor. Rates are current as of March 2025 but may change based on Federal Reserve policies.