I bond interest rates are setting records. They now pay 7.12% and will jump to 9.62% next month. That’s the good news. The bad news is you can’t invest more than $10,000 in I bonds each year (plus another $5,000 with a tax refund). So if you still have money left to save, here are some of the highest interest bank accounts available today.

6 Best Account Rates

If there’s any good news about raising inflation it’s that savers will slowly start to earn more money. While savings and money market accounts are still at historic lows, they are on the rise.

SoFi Checking

One of my personal favourites. SoFi is best known for helping graduates refinance their student loans. It also offers an excellent checking and savings account combination. The SoFi account pays up to 1.25% APY
on balances in both its checking and savings account. To get this rate, customers must set up direct deposit, otherwise the rate drops to a still respectable 0.70% APY.

SoFi is also offering up to a $300 cash bonus for new customers. Direct deposit is required, and the bonus amount depends on the amount of your direct deposit.


SaveBetter is not a bank. Instead, it works with FDIC-insured banks to package multiple savings productions into one account for its customers. Currently, it’s offering a money market account from mph.bank that pays 0.85% APY. That’s the highest APY on a MMA I’ve been able to find.

SaveBetter also offers other accounts. Currently its accounts include Ponce Bank (0.75% APY), Patriot Bank (0.70% APY), and others. The accounts at SaveBetter are FDIC-insured through its partner banks.

Basque Bank

According to its website, Bask Bank launched the first online-only savings bank in the US in 1999 as Texas Capital Bank. It is an FDIC-insured institution and has partnered with American Airlines to help customers earn miles. To that end it offers the Mileage Savings Account. Customers earn one American AAdvantage mile for every $1 saved annually in the account.