APY: For many savers looking for an HYSA, this is the most important figure. However, make sure that the APY is actually what’s advertised. Some banks require you to keep a certain minimum in the account to earn the advertised rate, or have other conditions you need to fulfill (such as having a monthly direct deposit). Fees: Nowadays, it’s pretty easy to find accounts without monthly maintenance fees, but it’s a good idea to check the account’s full fee schedule so you won’t face unexpected costs that will eat away at your earnings. Minimum opening requirement or balance requirement: If you’re not going to have enough money in your account to snag the advertised HYSA, look for a bank that offers its advertised APY on every dollar. ATM/check-writing features: Accounts will vary when it comes to how you can withdraw money. Some don’t allow cash withdrawals, so if this is something you need, be sure you choose an account that supports it. Deposit options: You can often deposit money by transferring funds from one account to another or setting up direct deposit from your employer, and some allow you to deposit checks or make deposits via mobile app. Withdrawal limits: The Federal Reserve relaxed rules around savings-account withdrawals in 2020, but some banks still limit you to six withdrawals a month. Access to brick-and-mortar branches: If you want to bank in person, choose a bank or credit union with a branch nearby. User-friendly interface: If you plan to bank digitally, make sure the bank’s website — and mobile app, if they have one — is easy to use. , The national average savings rate is just 0.45% APY, which pales in comparison to some of the best savings account rates, currently 4% to 5% APY. How much will $10,000 make in a high-yield savings , Best online high-yield savings account rates. EverBank — 4.30% APY, Rising Bank savings rates. Date Bankrate gathers rate data either directly from our partners, or through our proprietary .