- Concerns about President Donald Trump's tariff plans caused stock prices to plummet.
- If you want to avoid investments for now, a high-interest bank account could be a good option.
- High-yield savings accounts, high-yield checking accounts, and CDs can earn you high interest rates.
The stock market hasn't been faring too well in light of uncertainty around President Donald Trump's tariff plans. Major indexes such as the S&P 500 and the Nasdaq 100 saw significant losses this week.
"There has been a lot of short-term volatility as a result of the tariffs, and the uncertainty as it relates to the tariffs being implemented," says Adrienne Davis, CFP® professional, CPA, and financial planner with Zenith Wealth Partners.
If stock market performance is making you concerned about investments, you might want to consider storing your funds in high-yield bank accounts such as CDs, high-yield savings accounts, and high-yield checking accounts.
It's generally pretty easy to find accounts paying between 4% and 5% at online banks and credit unions, and your money will be federally insured, so you won't have to worry about losing your funds.
High-yield savings accounts offer a balance between liquidity and high rates
High-yield savings accounts can be a good option for money you want access to in case of emergencies. As such, they're good fits for emergency funds or very short-term savings goals.
Top high-yield savings accounts have rates of at least 4.40% annual percentage yield at online banks and credit unions. Many of these accounts don't charge monthly service fees or have balance requirements to earn the highest interest rates, which makes them very easy-to-use accounts.
Just keep in mind that savings accounts have variable interest rates, which means that your rate can and will change over time based on economic factors. You won't lose money in a savings account like you might with a brokerage account, but you could start to earn less interest over time.
Even if the interest rate is good on a high-yield savings account, you could lose money overall if you pay hefty monthly fees or put your money in an untrustworthy institution.
"The main things that I remind people to think about as they are choosing an online bank and wanting to get a high-yield savings account: making sure it's FDIC-insured, making sure there aren't any maintenance fees, and making sure there aren't any account minimums," says Davis.
If you're interested in a credit union, you'll want to check if they're NCUA-insured instead.
Below are several accounts that are easy to open online. You may find higher rates at other local financial institutions, but they might come with membership limitations.
| Account Name | APYAPYs (Annual Percentage Yields) are accurate as of 04/10/2025 | Minimum opening deposit |
| LendingClub LevelUp Savings Account | up to 4.40%* | $0 |
| Forbright Growth Savings | 4.25% | $0 |
| Western Alliance Bank High Yield Savings Account | 4.25% APY. Plus, new customers can earn $250 with code GET250 at sign-up. | $1 to open an account. $25,000 minimum to earn new customer bonus. |
| CIT Bank Platinum Savings | 4.10% (with $5,000 minimum balance) and a one-time bonus of up to $300 with use of the code PS2025** | $100 |
| Synchrony High Yield Savings Account | 4.00%*** | $0 |
CDs offer high, fixed interest rates for your cash
If you have money you're not planning on using for the next several months or years, a certificate of deposit might be a good choice for you. CDs offer fixed interest rates, which means you'll lock in your interest rate for the length of the CD term. In exchange, you won't be able to remove money from your account until the end of the term length without paying significant early withdrawal penalties.
If you're worried about economic uncertainty negatively impacting interest rates and don't mind losing access to your funds for a while, a CD could be a good choice.
Generally, standard CD term lengths range from 3-month CDs to 5-year CDs. Right now, short-term CDs are giving higher rates than long-term CDs.
Depending on the term length you're interested in, the best CD rates available nationwide range from 4.20% APY to as high as 4.60% APY. We've provided a list of some of the best CDs across several term lengths to give you an idea of what to aim for when looking for the right CD for you.
| Account Name | APY | Minimum opening deposit |
| Brilliant Bank 3 Month CD | 4.40% | $1,000 |
| Credit Human 1 Year Share Certificate | 4.15% | $500 |
| USALLIANCE Financial 2 Year Certificate | 4.20% | $500 |
| Lafayette Federal Credit Union 5 Year Certificate | 4.28% | $500 |
High-yield checking accounts are good for spending but harder to earn high rates from
If you're looking to earn interest on the checking account you use to pay bills and make purchases, a high-yield checking account could be a good option for you. These accounts offer great liquidity compared to other bank accounts, but they aren't known for offering high interest.
While you can get good rates from a high-yield checking account, even the best accounts have requirements you'll need to meet and balance limits to deal with in order to earn those rates.
Most high-yield checking accounts only let you earn high interest on up to a specific dollar amount, and those limits can be quite low. For example, their highest interest rate might only be limited to the first $3,000 you keep in the account.
You'll also probably need to meet certain requirements to earn interest. Common requirements are receiving direct deposits of a certain amount each month, making a certain number of debit card transactions each month, or turning on eStatements. Before you open a high-yield checking account, make sure you can meet its requirements.
Good rates from high-yield checking accounts differ, but you generally want to earn at least 3.00% APY. We've provided a list of some of the best high-yield checking accounts without monthly service fees to help you choose.
| Account Name | APY | Limits and Requirements |
| OnPath Rewards High-Yield Checking | up to 7.00% * | Limited to the first $10,000; must make 15 or more debit card purchases per month, log onto online or mobile banking at least once per month, and enroll in e-statements |
| Redneck Bank Rewards Checkin' Account | 0.25% to 4.50% | Limited to the first $15,000; must make 10 monthly debit card transactions and get online bank statements |
| SoFi® Checking and Savings (Member FDIC) | up to 3.80%**** | direct deposit or deposit at least $5,000 per month |
*LendingClub LevelUp Savings Account: Earn 4.40% APY when you deposit at least $250 per month, earn 3.40% standard APY if minimum isn't met.
**CIT Bank Platinum Savings: Transfer a one-time deposit of $50,000+ for a Bonus of $300 or a one-time deposit of $25,000 -$49,999.99 for a Bonus of $225
***Synchrony High Yield Savings Account: Annual Percentage Yield (APY) is subject to change at any time without notice. Offer applies to personal accounts only. Fees may reduce earnings. For High Yield Savings accounts, the rate may change after the account is opened. Visit synchrony.com/banking for current rates, terms and account requirements. Member FDIC.
****SoFi members who enroll in SoFi Plus with Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Only SoFi Plus members are eligible for other SoFi Plus benefits. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. See the SoFi Plus Terms and Conditions at https://www.sofi.com/terms-of-use/#plus.
*****Public High-Yield Bonds: All investing involves the risk of loss, including loss of principal. Past performance does not guarantee future results. This is not a recommendation or offer to buy/sell securities or engage in any investment strategy. Brokerage services for treasuries in a Treasury Account and US-listed securities, options, and bonds in a self-directed brokerage account are offered by Open to the Public Investing, member FINRA & SIPC. Public Advisors and Public Investing are affiliates. Self-directed Individual Retirement Accounts and Bond Accounts are offered by Public Investing. A Bond Account is a self-directed brokerage account with Public Investing, member FINRA/SIPC. Deposits into this account are used to purchase 10 investment-grade and high-yield bonds. The 6.9% yield is the average, annualized yield to worst (YTW) across all ten bonds in the Bond Account, before fees, as of 3/13/2025. A bond's yield is a function of its market price, which can fluctuate; therefore, a bond's YTW is not "locked in" until the bond is purchased, and your yield at time of purchase may be different from the yield shown here. The "locked in" YTW is not guaranteed; you may receive less than the YTW of the bonds in the Bond Account if you sell any of the bonds before maturity or if the issuer defaults on the bond. Public Investing charges a markup on each bond trade. See Public's fee schedule for more information. https://public.com/disclosures/fee-schedule. Bond Accounts are not recommendations of individual bonds or default allocations. The bonds in the Bond Account have not been selected based on your needs or risk profile. See Bond Account Disclosures to learn more. https://public.com/disclosures.
Bonus Disclosure: New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/26. See full bonus and annual percentage yield (APY) terms at sofi.com/banking#1.
APY disclosures: SoFi members who enroll in SoFi Plus with Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Only SoFi Plus members are eligible for other SoFi Plus benefits. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. See the SoFi Plus Terms and Conditions at https://www.sofi.com/terms-of-use/#plus.
Fee Policy: SoFi does not charge any account, service or maintenance fees for SoFi Checking and Savings. SoFi does charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. SoFi's fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at sofi.com/legal/banking-fees/.
Additional FDIC Insurance: SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC's regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at SoFi.com/banking/fdic/sidpterms. See list of participating banks at SoFi.com/banking/fdic/participatingbanks.
ATM Access: We've partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees incurred when using out-of-network ATMs are not subject to reimbursement. SoFi's ATM policies are subject to change at our discretion at any time.
Early Access to Direct Deposit Funds: Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.
Overdraft Coverage: Overdraft Coverage is limited to $50 on debit card purchases only and is an account benefit available to customers with direct deposits of $1,000 or more during the current 30-day Evaluation Period as determined by SoFi Bank, N.A. The 30-Day Evaluation Period refers to the "Start Date" and "End Date" set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the"30-Day Evaluation Period"). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking > Savings > Current APY or (ii) Banking > Checking > Current APY. Members with a prior history of non-repayment of negative balances are ineligible for Overdraft Coverage.
