7% Interest Savings Accounts: Top Offers for 2025

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There may be no better feeling than adding to your bank account while your money sits and earns interest at higher rates. It may seem obvious to get a savings account with a high annual percentage yield. But what constitutes a high APY in today’s market? Just how much can your money earn?

What Are 7% Interest Savings Accounts?

A 7% interest savings account delivers 7.00% APY on your money. For instance, if you deposited $100 in a 7.00% APY account, compounded daily, at the end of one year, you would have earned $7.25 on your money. That may not sound like a lot, but as your savings grows, the interest adds up.

Unfortunately, as the Federal Reserve cut interest rates, you can’t find 7.00% APY savings accounts anymore. However, high-yield online savings accounts still offer relatively attractive rates, with the highest over 6.00%. You’ll find the highest rates with online banks. Because they have low overhead and no brick-and-mortar branches to run, they can provide higher interest rates, accounts with lower fees, and other benefits.

Which Bank Is Giving 7% Interest on Savings Accounts?

At this time, it’s nearly impossible to find a 7% interest savings account in the U.S. There are some banks delivering APYs that are at least 5.00%, however. Here’s a closer look:

Digital Federal Credit Union Primary Savings Account –

The highest APY on this list, this account has a $5 minimum deposit and no monthly fees.

• APY:
• Minimum Deposit: $5
• Fees: None

Pros

• No monthly fee
• Small minimum deposit
• High APY
• Access to Co-op shared branches nationwide
• Allpoint ATM network

Cons

• Must qualify for membership
• Membership is limited largely to Massachusetts residents
• available only on the first $1,000

Blue Federal Credit Union Accelerated Savings –

The savings account at Blue Federal Credit Union has no minimum deposit or fees, along with a generous APY.

• APY:
• Minimum Deposit: $0
• Fees: $0

Pros

• No minimum deposit
• No minimum balance requirements
• Compounded daily

Cons

• Must make one monthly deposit to earn interest
• Tiered savings, with APY available only on the first $1,000
• Membership required

Axos Bank: Axos ONE® Savings and Checking Bundle – Up to

Axos ONE® does not require monthly maintenance fees and there is an early payday feature to receive your paycheck up to two days early.

• APY: Up to
• Minimum Deposit: None
• Fees: None

Pros

• No monthly fees
• 95,000 fee-free ATMs
• No minimum deposit
• Access to expanded FDIC coverage up to $265 million

Cons

• Online-only bank
• Must maintain an average daily balance of $1,500 in your Axos ONE checking account to receive the highest APY
• Must have qualifying monthly direct deposits of at least $1,500 by the 25th of each month to receive the highest APY

BrioDirect High-Yield Savings –

BrioDirect’s high-yield savings account offers a fantastic rate and a simple, convenient banking expeirence.

• APY:
• Minimum Deposit: $5,000
• Fees: None

Pros

• No membership requirements
• No monthly fee
• Easy online banking

Cons

• $5,000 minimum opening deposit
• $25 minimum balance to earn high APY

Bask Bank Interest Savings –

Bask Bank offers a generous APY and has earned positive reviews from its customers. There are no monthly fees, minimum opening deposit or minimum balance requirements.

• APY:
• Minimum Deposit: None
• Fees: None

Pros

• No minimum balance requirements
• No minimum opening deposit
• No fees

Cons

• Online-only bank
• Must fund the account within 15 business days or it may be closed
• No debit card available for a savings account

Popular Direct Select Savings –

Popular Direct is touted as one of the largest banks in the U.S. by assets and has a fantastic rate on its savings.

• APY:
• Minimum Deposit: $100
• Fees: None

Pros

• Same high rate on all tiers of Select Savings Account balances
• Interest compounded daily
• No monthly fee

Cons

• $25 fee if you close the account within 180 days
• $100 minimum opening deposit
• No brick-and-mortar branches

Benefits of 7% Interest Savings Accounts

High-yield savings accounts delivering between 4.00% to 7.00% APY come with many advantages. First, and most obviously, you’ll earn a higher return on your money. Many of these accounts have low or no minimum deposit requirements, meaning you can start a savings habit with as little as $1.

Online banks, niche financial institutions, and credit unions are the most likely to offer high-yield savings accounts. Often, credit unions and smaller banks deliver better, more personalized customer service, which is yet another benefit.

How To Find and Qualify for a 7% Interest Savings Account

Local credit unions and regional banks often deliver higher APYs than large national institutions. Banks like Chase and Bank of America don’t have to offer high-yield savings to attract customers. You may also explore online banks and financial technology companies for the highest rates. Sometimes, these financial institutions offer promotional rates to draw in customers. If you’re willing to move your money frequently, you can be sure you’re always getting the highest yield on your savings.

You may need to join a credit union by paying a small membership due or maintain a monthly direct deposit to earn the highest APY, so make sure you know the requirements before you open an account.

Alternatives to a 7% Interest Savings Account

Banks in the U.S. do not currently offer 7% interest on savings accounts. However, there are some worthwhile alternatives when it comes to accounts that offer high APYs.

High-Yield Savings Accounts

Right now, many financial institutions offer notably high APYs over 4.00%. Make sure to be aware of the fine print that comes with earning these high interest rates.

While they’re not 7% interest savings accounts, here’s a look at other options with impressively high APY offerings.

Money Market Accounts and CDs

If a high-yield savings account doesn’t seem like the right fit, savers also have other options. Many banks offer money market accounts and certificates of deposit, where you can score an above-average annual percentage yield.

Take a look at these high-yield accounts. Remember, though, that a CD will tie up your money for a specified time, and you might pay early withdrawal penalties if you need to access funds before that date.

Money market accounts, on the other hand, often provide easy access to your money with the ability to write checks or access funds through an ATM card.

Your choice may depend on whether you’re looking for short- or long-term savings options or want to build an emergency buffer with access to funds if you need them.

Final Take

The national average deposit rate for savings accounts is 0.41% as of April 2025, according to data from the FDIC. That doesn’t mean you have to settle for average. A 7% APY savings account would be great if you can find it. But the best you’ll get in today’s market is slightly over 6%. High-yield accounts often come with specific requirements to keep in mind.

When shopping around for a high-yield savings account, you need to think about more than the APY. Make sure you are aware of minimum balance requirements, the maximum balance to receive the highest APY, additional requirements such as a monthly direct deposit, and any fees associated with the account, which will reduce your earnings.

If you know where to look, you can ramp up your savings to achieve your goals faster with an APY over 4.00% right now. Consider some of GOBankingRates’ Best Banks of 2025 for your financial needs.

Jennifer Taylor, Caitlyn Moorhead and Sarah Sharkey contributed to the reporting for this article.

Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of April 1, 2025.

Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.

*Capital One interest rates are accurate as of April 1, 2025. See website for all current rates.

All information about Discover® Money Market Account has been collected independently by GoBankingRates. Discover® Money Market is no longer available through GoBankingRates.

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