Top High-Yield Savings Accounts to Take Advantage of Lofty Interest Rates in 2023

Thanks to the U.S. Federal Reserve and the Bank of Canada’s year-and-a-half-long crusade against inflation, interest rates in the United States and Canada have soared a 22-year.

With high inflation and lofty interest rates taking their toll on the savings of millions of people throughout North America, high-yield savings accounts could be a perfect way for investors to fight back and benefit financially from historically high rates.

With that said, here’s our list of the top U.S. and Canadian high-yield savings accounts.

U.S.High-Yield Savings Accounts

1. BMO Alto Online Savings

• Interest Rate: 5.1%
• Minimum Balance: $0
• Monthly Fee: $0
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2. Citizens Access Savings

• Interest Rate: 4.5%
• Minimum Balance: $0.1
• Monthly Fee: $0
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3. SoFi Checking and Savings

• Interest Rate: 6% (Promo Rate)
• Minimum Balance: $0
• Monthly Fee: $0
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4. Barclays Online Savings Account

• Interest Rate: 4.35%
• Minimum Balance: $0
• Monthly Fee: $0
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5. Citi Accelerate Savings

• Interest Rate: 4.35%
• Minimum Balance: $0
• Monthly Fee: $4.50
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Canadian High-Yield Savings Accounts

1. KOHO Spending and Savings Account

• Interest Rate: 4.5%
• Minimum Balance: $0
• Monthly Fee: $0
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2. Motive Savvy Savings Account

• Interest Rate: 4.1%
• Minimum Balance: $0
• Monthly Fee: $0
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3. CI Direct Investing HISA

• Interest Rate: 4%
• Minimum Balance: $0
• Monthly Fee: $0
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4. EQ Bank’s Savings Plus Account

• Interest Rate: 3%
• Minimum Balance: $0
• Monthly Fee: $0
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5. Manulife Bank Advantage Account

• Interest Rate: 2.85%
• Minimum Balance: $0
• Monthly Fee: $0
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