14 High Yield Savings Accounts with No Minimum Deposit (up to 5.30% APY)

In today’s high interest rate environment, it’s easy to earn a high return on your savings. Plus, there are many types of interest-bearing accounts to choose from, including: Certificate of Deposit (CD) accounts, money market accounts, regular savings accounts And high yield savings accounts. But as with any type of financial tool, not all deposit accounts are created equal, which means not all options will be right for your money.

For example, savers who can leave their money untouched for a certain period of time could benefit from the current measure. high rates on CDsbecause putting your money in this type of account means that you will benefit from a high interest rate for the full term of the CDThis may be a smart move given that rates may soon drop now that inflation is slowing. However, many CD accounts have high minimum deposit requirements, and you may not have enough savings to open one. Or, you may need more flexible access to your funds than a CD can offer.

It’s there that High-yield savings accounts can be helpfulThese types of accounts work similarly to traditional savings accounts. The big difference is the interest rate. While traditional savings accounts currently offer an average rate of just 0.36%, high-yield accounts offer much higher rates on average. But like CDs, there may be minimum deposit requirements to meet. So what can you do if you don’t have a lot of money on hand? Well, some high-yield savings accounts offer high yields and no minimums, allowing you to earn significant interest without having to save a large deposit.

Find out what your best high-yield savings account options are right now.

14 High Yield Savings Accounts with No Minimum Deposit (up to 5.30% APY)

If you’re looking for a high-yield savings account that offers significant returns with no minimum deposit, these accounts may be worth considering:

• Peak Bank — 5.30% APR: This account has no minimum deposit required to earn the listed interest rate and the monthly service fee is $0. The maximum deposit amount allowed with this account is $10 million.
• Forbright Bank – 5.30% APY: This account has no minimum deposit required to earn the listed interest rate and the monthly service fee is $0. Fees are charged for some types of wire transfers, but there is no maximum deposit amount on this account.
• North American Savings Bank — 5.30% APY: This account does not require a minimum deposit to receive the interest rate listed. The maximum deposit amount allowed with this account is $2 million.
• Evergreen Banking Group — 5.25% APY: This account has no minimum deposit required to earn the listed interest rate and the monthly service fee is $0. The maximum deposit amount allowed with this account is $1 million.
• Jenius Bank — 5.25% APY: This account has no minimum deposit required to earn the interest rate shown and the monthly service fee is $0. There is no maximum deposit amount on this account.
• Newtek Bank — 5.25% APY: This account has no minimum deposit required to earn the interest rate shown and the monthly service fee is $0. There is no maximum deposit amount on this account.
• UFB Direct — 5.25% APY: This account has no minimum deposit required to earn the interest rate shown and the monthly service fee is $0. Fees are charged for some excessive transfers and certain types of wire transfers, but there is no maximum deposit amount on this account.
• Laurel Road — 5.15% APY: This account has no minimum deposit required to earn the listed interest rate and the monthly service fee is $0. Fees are charged for certain types of wire transfers and the maximum deposit amount allowed with this account is $1 million.
• RBMAX — 5.15% APY: This account has no minimum deposit required to earn the interest rate shown and the monthly service fee is $0. There is a fee for paper statements and the maximum deposit amount allowed with this account is $250,000.
• Elevault — 5.13% APY: This account has no minimum deposit required to earn the listed interest rate and the monthly service fee is $0. The maximum deposit amount allowed with this account is $50,000.
• Bask Bank — 5.10% APY: This account has no minimum deposit required to earn the interest rate shown and the monthly service fee is $0. There is no maximum deposit amount on this account.
• BMO Alto — 5.10% APR: This account has no minimum deposit required to earn the interest rate shown and the monthly service fee is $0. There is no maximum deposit amount on this account.
• Primis Bank — 5.10% APR: This account has no minimum deposit required to earn the interest rate shown and the monthly service fee is $0. There is no maximum deposit amount on this account.
• EverBank — 5.05% APY: This account has no minimum deposit required to earn the interest rate shown and the monthly service fee is $0. There is no maximum deposit amount on this account.

Discover the best high-yield savings accounts online now.

The essential

If you think you need a ton of cash to take advantage of today’s great savings rates, think again. The high-yield accounts described above offer a nice mix of high rates and no minimums, making it possible for almost any type of saver to take advantage of what they offer. But if you want to start earning those big returns, you might want to get started now. at least one Fed rate cut expected in 2024, and when that happens, rates on these accounts will likely drop in return. By opening an account now, you can start earning significant returns on your money, making it easier to reach your savings goals over time.