On September 3, 2024, a Fox Business/Fox Money roundup listed BrioDirect and Forbright Bank at the highest reported savings rate in its table: 5.30% APY, with a $0 initial deposit shown for each. Vio Bank was also listed at 5.30% APY, with a $100 initial deposit minimum. The roundup says its rate table was up to date as of August 2024, so these are historical reported offers—not confirmation of rates available on September 3 or today.
Highest savings rates in the August 2024 table
The table below reproduces rates and initial-deposit figures reported by Fox Business/Fox Money in a roundup updated September 3, 2024. The roundup labels the rates as up to date as of August 2024; it does not establish that every figure was an exact bank disclosure on September 3. See the Fox Business/Fox Money roundup for its historical account listing.
| Bank | Reported APY | Minimum initial deposit reported |
|---|---|---|
| BrioDirect | 5.30% | $0 |
| Forbright Bank | 5.30% | $0 |
| Vio Bank | 5.30% | $100 |
| TAB Bank | 5.27% | Not stated in the roundup |
| Jenius Bank | 5.25% | Not stated in the roundup |
| UFB Direct | 5.25% | Not stated in the roundup |
| Bread Savings | 5.15% | Not stated in the roundup |
| Laurel Road | 5.15% | Not stated in the roundup |
| Bask Bank | 5.10% | Not stated in the roundup |
| BMO Alto | 5.10% | Not stated in the roundup |
| EverBank | 5.05% | Not stated in the roundup |
| CIBC Bank | 5.01% | Not stated in the roundup |
| CIT Bank | 5.00% | Not stated in the roundup |
| Synchrony Bank | 4.75% | Not stated in the roundup |
| SoFi | 4.60% | Not stated in the roundup |
For banks other than BrioDirect, Forbright Bank and Vio Bank, the roundup figures summarized here do not state an initial-deposit minimum. They also do not establish each account’s ongoing balance requirements, monthly fees, eligibility rules or conditions for earning the advertised APY. Do not assume those terms from the rate alone.
How to compare these accounts
Check the conditions behind the APY
APY, or annual percentage yield, expresses interest as an annualized rate relative to the principal. The Federal Reserve’s guidance uses an assumed 365-day term for accounts without a stated maturity. Actual earnings depend on the account’s terms and balance; an advertised APY is not a promise that the rate will remain unchanged.
#1 Best Overall
Before opening an account, check its current disclosure for any qualifying balance, deposit, transaction or other condition tied to the advertised rate. Compare the monthly fee and minimums as well: a higher APY may not be the better fit if you cannot meet its requirements or fees reduce the interest you earn.
Consider access, not just the headline rate
Review how deposits and withdrawals work, including online transfers, transfer timing and any ATM or branch access you need. The historical roundup does not provide a complete, comparable account of these features for every provider, so confirm them directly with the bank.
Rank #2
How the listed rates compare with broader averages
The Fox Business/Fox Money roundup reported an average savings-account interest rate of 0.61% as of August 2024. Separately, the FDIC’s national-rate page reported a 0.46% national savings rate as of September 16, 2024, using a $2,500 product tier. That FDIC observation came 13 days after the title date and uses its stated methodology; it is not a September 3 figure. Neither average verifies the terms or availability of any individual offer in the table.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What these figures can—and cannot—tell you
The August-labeled table shows that three providers were tied at 5.30% APY, while the reported opening minimum differed: two were listed at $0 and Vio Bank at $100. It is a historical comparison, not a live rate ranking. Savings rates can change, and the table alone cannot establish what any account currently pays or the full terms that applied on September 3, 2024.
Quick Recap
Best Value
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Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
