There’s hardly a better feeling than watching your money grow effortlessly in a savings account, especially when interest rates are high. But what exactly counts as a high APY today? And are there still savings accounts offering 7% interest in 2025?
A savings account with a 7% APY means your money earns 7% interest annually, compounded regularly. For example, depositing $100 in such an account and letting it compound daily would grow to about $107.25 after one year. While 7% interest sounds fantastic, these accounts are largely a thing of the past due to Federal Reserve rate cuts.
Today, the best high-yield savings accounts hover just above 6%, primarily offered by online banks. Because they operate without physical branches, these banks save costs and pass the benefits to customers in the form of higher interest rates and fewer fees.
Right now, finding a 7% APY savings account in the U.S. is nearly impossible. However, several banks and credit unions offer rates above 5%, which is still very attractive compared to the national average.
Here are some top contenders:
| Institution | Account Name | APY | Minimum Deposit | Notes |
|---|---|---|---|---|
| Digital Federal Credit Union | Primary Savings | 5.50% | $5 | No monthly fees; 5.50% APY applies only to first $1,000; membership required |
| Blue Federal Credit Union | Accelerated Savings | 5.00% | $0 | No fees; requires monthly deposit; tiered APY on first $1,000; membership required |
| Axos Bank | Axos ONE® Savings | Up to 4.66% | None | No monthly fees; requires $1,500 monthly direct deposit to earn highest APY |
| BrioDirect | High-Yield Savings | 4.35% | $5,000 | No fees; high minimum deposit |
| Bask Bank | Interest Savings | 4.35% | None | No fees; online only; must fund within 15 days or account may close |
| Popular Direct | Select Savings | 4.05% | $100 | No fees; $25 fee if closed within 180 days; no branches |
Accounts offering between 4% to 7% APY provide a way to grow your money faster without risk. Most have low or no minimum deposits, so you can start saving even with small amounts. Online banks and credit unions typically offer the best rates due to lower operating costs.
If locking your money away is an option, certificates of deposit (CDs) often provide competitive rates, though with penalties for early withdrawal. Money market accounts offer liquidity with better rates than regular savings.
| Institution | Account | Max APY |
|---|---|---|
| CFG Bank | 12-Month CD | 4.15% |
| Marcus by Goldman Sachs | 18-Month CD | 4.10% |
| Discover Bank | 12-Month CD | 4.00% |
| Capital One | 1-Year 360 CD | 4.00% |
| Vio Bank | Cornerstone Money Market | 4.36% |
| Sallie Mae | Money Market | 3.90% |
The average U.S. savings account yields only about 0.41% as of 2025, so earning over 4% is a big win. While 7% APY accounts are nearly impossible to find, you can still earn impressive returns by choosing the right high-yield savings, money market, or CD accounts.
Always review the fine print — minimum balances, fees, and account requirements can affect your overall earnings. By staying informed and flexible, you can make your money work smarter toward your financial goals.
