16 best high-yield savings accounts to open in April 2024

It’s important to save money to have a safety net to rely on in a financial emergency. After all, you never know when you’ll be faced with costly home or auto repairs, medical bills, or other unexpected expenses. Actually, Most experts agree that you should have between three and six months of expenses In emergency savings always.

But this creates a challenge. Today’s high inflation rate means you need to earn a significant return on your idle cash, or it will lose purchasing power. With prices increase by 3.2% per yearyou’ll have to earn this rate or more on your savings to compensate for the devaluation of your dollars. This can be difficult given that the current average interest rate on savings accounts is approximately 0.47% per year.

A high yield savings account can help. In fact, major high-yield savings account rates for April range from 4.35% to 6.00% – producing a positive return adjusted for inflation. But where do you find today’s best high yield savings accounts?

Make your money grow now with a high-yield savings account.

16 Best High Yield Savings Accounts to Open in April 2024

Some best high yield savings accounts to open now there are no monthly maintenance fees. Here are the best choices for this month of April:

• Mango – 6.00% APY: This account has a minimum opening deposit of $25 and a minimum balance of $25 required to earn the interest rate shown. But you must have an active Mango card to open this account, and you’ll need to make $1,500 in purchases per month using your Mango card to access the 6.00% APY on your savings.
• Western Alliance Bank – 5.36% APY: This account has a minimum opening deposit of $500 and no minimum balance is required to earn the listed interest rate once you make your initial deposit.
• Bank Jenius – 5.25% APY: This account does not have a minimum deposit or minimum balance required to earn the interest rate shown.
• Newtek Bank – 5.25% APY: This account does not have a minimum deposit or minimum balance required to earn the interest rate shown.
• UFB Direct – 5.25% APY: This account does not have a minimum deposit or minimum balance required to earn the interest rate shown.
• EverBank – 5.15% APY: This account does not have a minimum deposit or minimum balance required to earn the interest rate shown.
• BMO Alto – 5.10% APY: This account does not have a minimum deposit or minimum balance required to earn the interest rate shown.
• Bask Bank – 5.10% APY: This account does not have a minimum deposit or minimum balance required to earn the interest rate shown.
• CIT Bank – 5.15% APY: This account has no minimum deposit requirement, but a minimum balance of $5,000 is required to earn the listed interest rate.
• Lending Club – 5.00% APY: This account has a minimum opening deposit of $100 and no minimum balance is required to earn the listed interest rate once you make your initial deposit.
• Synchrony Bank – 4.75% APY: This account does not have a minimum deposit or minimum balance required to earn the interest rate shown.
• SoFi – 4.60% APY: This account does not have a minimum deposit or minimum balance required to earn the interest rate shown.
• Marcus by Goldman Sachs – 4.40% APY: This account does not have a minimum deposit or minimum balance required to earn the interest rate shown.
• American Express – 4.35% APY: This account does not have a minimum deposit or minimum balance required to earn the interest rate shown.
• Capital One – 4.35% APY: This account does not have a minimum deposit or minimum balance required to earn the interest rate shown.
• Barclays – 4.35% APY: This account does not have a minimum deposit or minimum balance required to earn the interest rate shown.

Don’t let rates like these pass you by. Open a high-yield savings account now.

The essential

If your emergency savings are in a safe deposit box or traditional savings account, your money is likely losing purchasing power. To start earn a positive inflation-adjusted return taking advantage of one of April’s leading high-yield savings accounts. You do not know where to start ? Consider opening one of the accounts above now.