Tired of your savings earning next to nothing? In this video, I break down the best high-yield savings accounts (HISAs) you can open right now in 2025 to actually grow your money above inflation. I’ll explain what HISAs are, why they matter, and which ones offer the best interest rates, lowest fees, and best customer experience.
Whether you’re saving for emergencies, a down payment, or just want your cash to stop losing value—this guide is for you.
✅ I cover accounts from:
• Live Oak Bank
• CIT Bank
• Barclays
• Axos Bank
• Plus: Capital One, Ally, Amex, Discover & more
📌 LINK TO COMPARE THE BEST ACCOUNTS: [Insert your link here]
🔒 FDIC-insured
💵 Earn up to 4.66% APY
⚠️ No hidden fees
⏱️ Takes less than 10 minutes to open
👍 Like this video if it helped
📝 Comment with your favorite HISA or ask questions
🔔 Subscribe for more money tips every week
#savings #highyield #moneytips #inflation #personalfinance
Whether you’re saving for emergencies, a down payment, or just want your cash to stop losing value—this guide is for you.
✅ I cover accounts from:
• Live Oak Bank
• CIT Bank
• Barclays
• Axos Bank
• Plus: Capital One, Ally, Amex, Discover & more
📌 LINK TO COMPARE THE BEST ACCOUNTS: [Insert your link here]
🔒 FDIC-insured
💵 Earn up to 4.66% APY
⚠️ No hidden fees
⏱️ Takes less than 10 minutes to open
👍 Like this video if it helped
📝 Comment with your favorite HISA or ask questions
🔔 Subscribe for more money tips every week
#savings #highyield #moneytips #inflation #personalfinance
Category
📚
LearningTranscript
00:00I've been getting this question a lot. Steve, where do I put my savings without watching it
00:05lose money to inflation? It's a fair question, especially when everything from eggs to gas
00:11seems to go up every month. So today's video is all about high-yield savings accounts, or HESAs.
00:18They're simple, safe, and might be one of the easiest ways to actually grow your savings above
00:23inflation. Give me 10 minutes and I'll break down the benefits, drawbacks, and the best accounts
00:28available today. I'll also include a link to my favorite accounts so you can check for the latest
00:33info since rates do change. Back when I was still teaching, I had all my savings sitting in one of
00:39those big-name banks like Chase, Wells Fargo, or Bank of America. And chances are, you might have
00:45an account with one of them too. Why did I keep my money there? Well, because my parents did. My
00:51friends did. My co-workers did. So, I figured it must be the right thing to do. But one year I looked at
00:58my account and realized I made just $187 in interest. I remember thinking, that's not even
01:05enough for a small boba. Meanwhile, my 6th graders were making more money selling candy bars during
01:11lunch. That's when it hit me. I wasn't the problem. My savings weren't the problem. Where my savings
01:18were, that was the problem. So, I moved my $20,000 plus savings into a high-yield savings account.
01:25By the end of the year, I earned over $400 just letting my money sit there. And with higher rates
01:32today, I'd be making closer to $1.700, $800. That's way better than $187. This small switch
01:40taught me something big. Sometimes, the easiest wins come from simply knowing where to put your
01:46money. So, what's a high-yield savings account? It's basically a regular savings account, but
01:52on steroids. A HESA can earn 300 to 400 times more interest than your regular account with a 0.01%
02:00interest rate. Instead of losing money to inflation, your emergency fund actually grows. And here's the
02:08cool part. You can open more than one. Some of my friends have one for vet bills, one for travel,
02:14one for future house stuff. And yes, they're safe. As long as they're FDIC-insured,
02:20your money is protected up to $250,000. If the bank collapses, your money is still covered.
02:28Unlike stocks, your balance doesn't go up and down. No drama. No risk of losing money. Sure,
02:35the interest rate might fluctuate, but your balance doesn't shrink unless you withdraw. This is why I
02:41like keeping my emergency fund in a HESA. It's boring, and that's kind of the point. Also,
02:47most of these accounts have no or low fees. You keep what you earn every last cent. Just to clarify,
02:54a HESA is not the same as a CD, Certificate of Deposit. HESAs don't lock your money away.
03:01You can access it when you need it, which is crucial during emergencies. HESAs are for short-term
03:06savings. I keep my long-term savings in CDs or retirement accounts. But if I need money quickly,
03:13it always goes into a high-yield savings account. And remember, a HESA isn't a checking account.
03:19No swiping at Trader Joe's. No ATMs. You'll usually need to transfer money out, which takes a day or two.
03:27And honestly, that's a good thing. You want your emergency fund to be available, but not too
03:32available. If it's easy to swipe, it's easy to spend. HESAs are like fire alarms. You only break the
03:39glass in case of emergency. Let's talk about the actual accounts.
03:44One Live Oak Bank. Live Oak Bank has been around since the early 2000s. Not ancient,
03:51but established enough to trust. It's earned praise from Bankrate, Wall Street Journal,
03:57NerdWallet, and has a 4.6 star rating on Trustpilot. That's impressive, especially when many big banks
04:04can't break two stars. They offer 4.4% APY, whether you've got $1 or $100,000. No gimmicks,
04:13no hidden fees, no maintenance charges. Support calls are reportedly resolved in under a minute.
04:19If you want full-service banking, this might not be for you. But for focus savings, it's one of the
04:24best out there. Two, CIT Bank. CIT requires $100 to open an account. But really, that's less than
04:32most people spend on coffee and Uber Eats in a week. That $100 gets you a 0.25% APY to start,
04:40already way better than 0.01% from big banks. At $5,000, it levels up to a 4.1% APY. CIT also offers
04:51solid mobile access and features all under one roof. No activation fees. No monthly service charges.
04:583. Barclays. A familiar name, Barclays offers a 4.1% APY with no minimums and no fees. They match
05:08CIT's higher tier without needing $5,000. If you deposit more than $250,000, you even get bumped up
05:16to 4.3%. This is great if you're saving for a house or a big goal, not retirement, but a safe parking
05:23spot for growing your money. 4. Axos Bank. Great for small business owners. Their business savings
05:30account earns 3.8% APY. No minimum deposit, no monthly fees, no balance requirements. All domestic
05:38and international incoming wires are free. On the personal side, they offer 4.66% APY with access to
05:4695.000 plus fee-free ATMs. Again, no minimums or overdraft fees. Now, some honorable mentions.
05:56Not everyone chases the highest APY. Some people want a branch they can walk into or a smooth app
06:03experience. Capital 1360 Performance Savings. You can walk into a branch, talk to someone, and still
06:10earn decent interest. Not flashy, but stable and user-friendly. American Express High Yield
06:16Savings. If you're already an Amex user, this might be your lane. Offers 3.7% APY, no fees,
06:24no minimums, and FDIC-insured. Ally Bank. Great if you like organizing with multiple buckets in one
06:31account, one for vet bills, another for vacations, etc. Discover. Simple, reliable, and easy to set up.
06:393.6% APY with no fees. There are tons of other great HESAs out there, like Wealthfront, Genius,
06:47and SoFi. The whole point of this video is to make sure you get one, so Chase, Wells Fargo,
06:53and Bank of America don't keep taking advantage of your hard-earned money.
06:57Here's my general rule. Choose a HESA that gives you at least 3.5% APY, no weird fees,
07:04and solid customer support. Check the link below for the latest recommendations. Some of them may
07:10even offer a sign-up bonus right now. If you want my honest advice on reaching financial freedom,
07:15watch this video next.