Maximize Your Savings: Top Interest Rates for $1,000 Extra in 2025
An unfortunate reality is that 82% of Americans do not use high-yield savings accounts (HSYAs) for their funds. Consequently, these individuals likely earn minimal interest monthly due to exceedingly low rates.
Seeking a safe spot to build up your savings? Check out our expert choices for the top FDIC-insured high-yield savings accounts currently offered. - savor mental tranquility with advantageous interest rates.
Meanwhile, I made $798 from bank interest earned in the previous year Simply by maintaining my emergency fund in a high-yield savings account yielding around 4.50%, and this year, I am on track to exceed $1,000 in pure interest -- everything without lifting a finger or assuming any risk.
Here's how you can do the same.
The amount you might earn depending on your balance
The best online HYSAs are offering 3.60% to 4.40% APY right now.
Here's what that means in dollars:
| Savings | Annual Interest (4.00% APY) |
|---|---|
| $10,000 | $400 |
| $20,000 | $800 |
| $30,000 | $1,200 |
| $40,000 | $1,600 |
| $50,000 | $2,000 |
Important note: HYSA rates are variable and can change when the Fed adjusts its benchmark interest rate. But the best rates have been holding strong in the 4.00% to 5.00% range for a while now.
Compare current highest savings rates to discover the perfect match for your needs. -- our experts update this list regularly so you can find the highest-paying HYSAs in minutes.
Subsequent actions to achieve an Annual Percentage Yield (APY) of 4.00% or more
Incidentally, you don’t have to entirely terminate your previous bank accounts and transfer everything. The aim is to launch a new high-interest account and shift over any dormant funds.
Here’s a brief step-by-step guide:
- Pick a new account. Seek out a competitive interest rate, no hidden charges, and a strong track record.
- Open it online. For most banks, this takes fewer than five minutes.
- Transfer your savings. You typically connect your current bank account and move money digitally. It’s quite straightforward, generally taking from one to three business days.
That’s all there is to it! Interest will begin accumulating (and compounding) from the moment your funds hit the account. Should you manage to save $25,000 or more, you can expect approximately $1,000 in yearly interest. Hooray!
What exactly are you waiting for then? Check out our comprehensive selection of top high-return savings accounts. and make the change today.
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