Last year, after looking through some data, I made the bold proclamation that CFG is the best high yield savings account for keeping up with increased interest rates. That article has stood the test of time, though some people still don’t like them due to their low ACH push/pull limits.
Read: What’s The Best Simple High-Yield Savings Account?
Read: Best High Yield Savings Accounts – up to 5.00% APY
I found this comment from reader Rad useful as a mini blogpost rating the top banks and so I thought to post it with minor edits. (Thanks Rad for the helpful analysis!) Feel free to chime in below with your own thoughts and favorites.
CFG is consistently at or near top rates-wise. That’s the first go-to. (Their ACH is very limited and slow, so you have to use external ACH push in and pull out generally for any but very small amounts.)
After that or if you need good ACH functionality CIT is a good option, especially if you value ability to easily transfer funds in and out (fast transfers with no real limits), free wires, and more. CIT is usually close to top rates-wise; for example, right now their rate is 4.85% vs 5.03% with CFG.
First Foundation also is near top. Now also 4.85%. 100K ACH limit, but slow at 3 days. You might opt to use external ACH instead.
And Primis has also proven to be good, even without the grandfathered 5.1% rate – 4.77% is still solid. Again there are ACH limits of 100K in/5K out, so you might need to use an external ACH source. Primis is also unique in that the offer the same high rate (5.1% or 4.77%) on their checking account, with unlimited transactions, free checks, etc.
These would be the four top choices. And if you need a fifth option, another one almost as good as CIT for easy ACH transfers ($1M in/$100K out), Comenity Direct “Bread” is also a fine choice. Not as good on rates, but usually they’ll be fairly close to the top rates (right now they are at 4.65%).