These 3 Savings Accounts Will Earn You More Than Capital One's 4.00% APY

As savings rates on bank accounts start to drop, it's becoming increasingly difficult to find an APY of 4.50% or higher. Even the extremely popular Capital One 360 Performance Savings recently dropped its rate to 3.80% APY. While Capital One never had the highest APY to begin with, it's discouraging to see a popular bank offer less interest to its clients, especially if you're currently banking with it.

That said, it's not all bad news on the interest rate front. In fact, several bank accounts are still offering a rare chance to earn interest at an APY of 4.70% or higher. These rates likely won't be around for long. But if you're interested, here are three high-yield savings accounts that shouldn't be overlooked.

1. Western Alliance Bank High-Yield Savings Premier

The Western Alliance Bank High-Yield Savings Premier is one of those savings accounts you wish you had opened sooner. It has no fees, a $500 minimum deposit to open, and a stellar 4.46% APY.

The account has a few limitations, but nothing you wouldn't expect from an online-only bank account. For one, there's no ATM access: All transactions must be done electronically. You can only link one external account at a time. If you want to change it, you must wait 30 business days from the moment you link it before you can switch to a different external account.

Our Picks for the Best High-Yield Savings Accounts of 2024

Product	APY	Min. to Earn
American Express® High Yield Savings Member FDIC. APY 3.80% Rate info 3.80% annual percentage yield as of December 28, 2024. Terms apply. Min. to earn $0 Open Account for American Express® High Yield Savings On American Express's Secure Website. Member FDIC.	3.80% Rate info 3.80% annual percentage yield as of December 28, 2024. Terms apply.	$0	Open Account for American Express® High Yield Savings On American Express's Secure Website.
Capital One 360 Performance Savings Member FDIC. APY 3.80% Rate info See Capital One website for most up-to-date rates. Advertised Annual Percentage Yield (APY) is variable and accurate as of Dec. 6, 2024. Rates are subject to change at any time before or after account opening. Min. to earn $0 Open Account for Capital One 360 Performance Savings On Capital One's Secure Website. Member FDIC.	3.80% Rate info See Capital One website for most up-to-date rates. Advertised Annual Percentage Yield (APY) is variable and accurate as of Dec. 6, 2024. Rates are subject to change at any time before or after account opening.	$0	Open Account for Capital One 360 Performance Savings On Capital One's Secure Website.
Western Alliance Bank High-Yield Savings Premier Member FDIC. APY 4.46% Rate info The annual percentage yield (APY) is accurate as of November 7, 2024 and subject to change at the Bank’s discretion. Refer to product’s website for latest APY rate. Minimum deposit required to open an account is $500 and a minimum balance of $0.01 is required to earn the advertised APY. Min. to earn $500 to open, $0.01 for max APY Open Account for Western Alliance Bank High-Yield Savings Premier On Western Alliance Bank's Secure Website. Member FDIC.	4.46% Rate info The annual percentage yield (APY) is accurate as of November 7, 2024 and subject to change at the Bank’s discretion. Refer to product’s website for latest APY rate. Minimum deposit required to open an account is $500 and a minimum balance of $0.01 is required to earn the advertised APY.	$500 to open, $0.01 for max APY	Open Account for Western Alliance Bank High-Yield Savings Premier On Western Alliance Bank's Secure Website.

If you can handle those limitations, this account will give you a free way to boost your savings this year. Click here to earn one of the highest APYs on a Western Alliance Bank High-Yield Savings Premier account.

2. CIT Platinum Savings

The CIT Platinum Savings is another savings account with a mind-boggling APY.

This account earns a 4.35% APY for balances of $5,000 or more. The minimum deposit to open is $100. The account has no monthly maintenance fee, but it charges some miscellaneous fees for certain services, like wire transfers.

While the account has one of the best APYs for a free savings account, the high minimum deposit might crush your dreams. If you don't maintain a $5,000 balance, this account earns a much, much lower APY -- even lower than the national average of 0.42%. That's a huge drop from its headline-grabbing rate and not one you want, especially when other accounts earn much more than that with no minimum balance requirements.

If you can maintain $5,000, this account's rate is no joke. Click here to learn more about the CIT Platinum Savings and see how much interest it can earn you.

3. LendingClub LevelUp Savings

If the former two accounts got you excited, we saved the best for last. Hope you still have some party flares left: LendingClub LevelUp Savings is one of the only accounts left that still offers an APY of 5.00% or higher.

An APY of 4.75% with $250+ in monthly deposits, to be exact. This account charges no monthly service fee and no ATM fees. It even reimburses you for out-of-network ATM fees that you incur.

But there is a catch. In order to snag this account's max APY, you must deposit $250 per statement cycle. If you don't deposit $250 each statement cycle, you'll get the standard rate, which, actually, isn't bad..

These three savings accounts have some of the best rates we've found today. But don't count on them being this high forever. Savings accounts have variable rates, which means they can fluctuate at the drop of a hat. If you'd like a fixed interest rate, that is, a rate that stays the same over a length of time, consider getting a CD. Click here to check out CDs with the best interest rates available now.