Top Savings Accounts Paying Up to 4.00% Interest Rate

The average savings account interest rate is only 0.38% APY, according to research from Motley Fool Money. This means that if you park $10,000 in an average account for a year, you'll earn around $38.

However, top online savings accounts are paying between 3.00% to 4.00% annual percentage yield (APY). For example, the same balance could earn you $300 to $400 per year instead of just $38.

Motley Fool Money recommends three high-yield savings accounts with no minimum deposit: SoFi Checking and Savings, American Express High Yield Savings Account, and Happen Bank LevelUp Savings.