Best APY Rates For October 20, 2022

While savings account rates appear to be solid, the highest savings rates do not currently include CDs, which indicates that short-term savings plans may not have the power they once did. However, niche banks with unique savings programs are flooding the market in an effort to attract as much new business as possible.

About the Best Savings Accounts

UFB Direct

A division of Axos Bank, UFB Direct offers a branchless banking model that offers better customer service and a host of personal banking products like savings and money market accounts. Award-winning customer support and unique financial solutions—paired with high interest rates—help customers make the most of their money.

CFG Community Bank

CFG Community Bank was founded in 2009 with the idea that it should operate differently than a traditional bank. The bank is solely-owned, and uses an entrepreneurial approach to give customers the best results—all with the same tools a traditional bank provides, from money market accounts to savings and CDs. The bank is headquartered in Baltimore, Maryland.

SoFi

SoFi was founded as a place where consumers can discover financial independence. Started by Stanford business students who worked off an alumni-funded lending model, the firm has exploded to take a massive chunk out of the personal banking marketplace. This online platform wants money to work for the consumer, offering loan refinancing, investing tools and bank accounts. 

Capital One

Capital One was founded over 25 years ago to offer a range of consumer products, better information and top-shelf customer care. The bank is still founder-led, headquartered in McLean, Virginia and offers a range of bank accounts, loans and credit cards.

Vio Bank

A division of MidFirst Bank—America’s largest, privately-held bank—Vio Bank is the online arm that provides customers with savings solutions that offer greater results.