Highest savings account rates today: Grow your nest egg at 5% APY and higher to end week May 3, 2024

The week wraps up with continued high rates on a range of savings accounts after the Federal Reserve's pause on cutting benchmark funds rates this week. But not all accounts offer the same cash-growing opportunities for today's smartest savers. Today's strongest yields are offered by digital banks and online accounts that can boost your balance over the long term with easy management of your money. These high-yield accounts earn you APYs at up to 10 times the national 0.46% average youll find at your neighborhood bank, with few limitations and fees. Even legacy brands like American Express and Discover offer high-yield accounts at 4.25% APY. No matter which type of savings account you choose, modern accounts support robust online banking and apps that make it easy to link to your money in other accounts or different banks, helping you to quickly grow your funds to support everyday expenses, a savings goal or a reliable rainy-day fund. High-yield savings account rates for May 3, 2024 Todays best savings rates are at FDIC-insured digital banks and online accounts offering yields of more than 5.35% APY with a minimum $500 opening deposit at My Banking Direct and Western Alliance and more than 5.00% APY with no minimums at Jenius Bank, Forbright Bank and Bask Bank, among others, as of Friday, May 3, 2024....

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