Most People Don’t Realize You Can Unlock a Better APY From Your Savings Account. Here’s How
Written by
Laura Bogart
Edited by
Nick Friedman
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APY. Those three little letters carry a big impact for anyone who’s trying to grow their savings over time — which should be everyone. They stand for annual percentage yield, which is basically the rate of return on an investment for one year that also accounts for compounding interest. And when you’re shopping for a high-yield savings account, the higher the APY, the better.
Regrettably, many people — even those who consider themselves to be savings-savvy — don’t know how to capitalize on high-APY banking products to give their wealth a healthy boost.
If the prospect of spending hours online searching through savings accounts to find the highest APYs sounds overwhelming, you’re in luck.
Raisin, a digital marketplace, simplifies the process by showing you high-APY offers from more than 70 banks and credit unions — many of them with rates significantly higher than the national average.
You might be surprised by how easy it is to get a better APY for your savings.
A Better Way to Shop for Rates
A lot of people probably think of checking and savings accounts as two peas in a pod. As in, if you set up a checking account at one bank, you might as well open a corresponding savings account at the same bank.
Not only do you not have to set up a savings account — whether it’s a high yield savings account, money market or CD — at the same bank where you have your checking, it’s actually better to shop around for the best rate.
With Raisin, one simple login provides a portal into a marketplace of accounts offering their very best. Through the platform’s relationships with some of the best names in banking, Raisin works with over 70 banks and credit unions across the nation, giving you the power of choice.
To make matters even simpler, Raisin also shares exclusive offers from FDIC-insured banks. For instance, in January 2025, Raisin users received an exclusive offer for a savings account with a APY through Western Alliance Bank.
Compare that to the national average interest rate for a savings account in the U.S, which was just 0.41% APY as of March 17, 2025.
Educate Yourself About Rates
When you’re making the decision about the best savings account for you, you’ll want to know exactly how much your money could grow. Raisin makes that process incredibly simple with its savings account calculator, which lets you plug in your overall savings goals, down to your initial deposit, expected monthly contributions and the prospective APY. After determining your total savings, you can search for an account that will help you achieve those goals.
Raisin also strives to help people make informed decisions with their money and offers an educational hub where members can learn more about saving, banking, investing and retirement.
There’s also an explainer about the criteria you might use to help differentiate between high yield savings accounts, and select the one that best meets your needs.
Manage Your Accounts Easily
Finding the right savings account is one thing. Managing and funding that account to really build wealth is another. Raisin empowers you to do both. Through the platform, you can view your savings accounts — not just high yield savings accounts, but also money markets and CDs — and add funds, assured that every transaction is protected by cybersecurity features.
To date, Raisin customers have earned over $2 billion in interest.
Ready to start growing your money faster? It’s easy to get started here and see how much you can earn.
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