The top high-yield savings account offers reported by Yahoo Finance on September 23, 2024, were 5.31% APY at Western Alliance Bank and 5.05% APY at both Jenius Bank and EverBank. These are historical rates, not current offers. Check each institution’s latest disclosures before opening an account.
Reported high-yield savings rates on September 23, 2024
Yahoo Finance’s September 23, 2024 article listed the following leading savings offers. It reported that none required a minimum opening deposit at that time.
| Institution | Reported APY | Minimum opening deposit reported |
|---|---|---|
| Western Alliance Bank | 5.31% APY | None |
| Jenius Bank | 5.05% APY | None |
| EverBank | 5.05% APY | None |
These figures describe what Yahoo Finance reported as of September 23, 2024; they do not establish today’s rates, minimums, or other account terms. Savings APYs can change. Confirm the rate and its conditions directly with the institution before applying.
How the offers compared with the national savings rate
The FDIC’s September 2024 national-rates page, revised September 16, listed a 0.46% national savings rate. The FDIC says its savings-rate figure is based on the $2,500 product tier. On that benchmark, the three offers in Yahoo Finance’s September 23 snapshot were considerably higher.
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Yahoo Finance’s September 23 article instead cited a 0.45% average savings rate, attributing it to the FDIC. The FDIC page revised September 16 shows 0.46%. These are figures reported by different sources or at different dates; they should not be silently treated as the same observation.
What APY tells you—and what it does not
Annual percentage yield (APY) is an annualized measure that reflects the relationship between principal and the interest that would be earned over an account term. Federal Reserve guidance calculates APY for accounts without a stated maturity date, such as typical savings accounts, using an assumed 365-day term. The calculation assumes principal and interest remain on deposit and no other transactions occur during that term.
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Those are calculation assumptions for comparing and disclosing yields—not a forecast of your actual balance or a promise that a variable savings rate will stay the same. A quoted APY applies under the account’s stated terms, so check how the bank sets the rate and whether it can change.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What to check before choosing an account
A high headline APY is only one part of the decision. Compare the terms that determine whether the account fits how you save and access your money.
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- Current rate and balance rules: Verify the APY now, whether it is variable, and whether a minimum balance is required to earn the advertised rate. A no-minimum opening deposit reported in 2024 does not confirm current eligibility terms.
- Fees: Check for monthly maintenance fees, how to avoid them, and any other charges that could reduce your earnings.
- Access and service: Consider customer-support hours, branch or ATM access, and the functions available through online and mobile banking.
- Deposit protection: Confirm which legal institution holds the funds and whether the specific deposit is covered by FDIC insurance for a bank or NCUA insurance for a credit union. A rate listing alone does not establish coverage for a particular product.
The September 2024 rates are useful as a dated comparison point, not as a recommendation for an account available today. For a current decision, use the institution’s own rate and account disclosures.
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