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Savings accounts with at least 6% interest

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Overview of 6% interest savings account

FAQs

• Savings accounts with at least 6% interest
• Compare additional savings accounts
• Overview of 6% interest savings account
• FAQs

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• Digital Federal Credit Union has an account that pays over 6% APY, but you must meet membership requirements to get started.
• You also won't earn this high interest rate on your entire Digital FCU savings balance.
• Plenty of savings accounts are available around the U.S. and still offer great rates — over 5% APY.

High savings rates are the new normal at many financial institutions. There's one credit union offering 6% APY to help grow your savings, but there are some criteria to be aware of.

If you want to explore additional savings options, the best high-yield savings accounts are available around the U.S. and offer high rates on your entire balance.

Savings accounts with at least 6% interest

Digital Federal Credit Union, one of our favorite banks in Massachusetts, is the only credit union paying 6% APY on a savings account. The credit union offers 6.17% APY on balances up to $1,000. If you have an account balance above $1,000, the interest rate drops to 0.15% APY. This savings account doesn't have any monthly service fees or minimum balance requirements.

Compare other high-yield savings accounts

Also, keep in mind there are many savings accounts offering 5% interest. Here are a few savings accounts paying 5% APY or more — and they're available throughout the U.S.

Featured Nationally Available Deposit Rates

Account Name	APY (Annual Percentage Yield) Accurate as of 7/31/2024	Minimum Account Opening Balance
Western Alliance Bank High-Yield Savings Premier	5.31%	$500
BrioDirect High-Yield Savings Account	5.30%	$5,000
Forbright Growth Savings	5.30%	$0
High Yield Savings Account Powered by Raisin	5.27%	$1
UFB Portfolio Savings	5.15%	$0
LendingClub High-Yield Savings Account	5.00%	$100

Overview of 6% interest savings account

To open the Digital FCU savings account, you must become a member first. Digital FCU membership is limited to people who live in select areas of Massachusetts, live in a New Hampshire participating condominium community, work for a Select Employer Group, or belong to a local participating organization. 

You'll earn 6.17% APY on the first $1,000, then 0.15% APY on the remaining balance. If you plan to keep significantly more than $1,000 in savings, you may be better off opening an account that pays a slightly lower rate on your entire balance.

DCU Primary Savings Account Start saving DCU, Member NCUA Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4/5 Fees

No monthly maintenance fees

Annual Percentage Yield (APY) Info icon Earn 6.17% APY on up to and including the first $1,000, then earn 0.15% to 6.17% on the remaining balance.

0.15% to 6.17%

Minimum Opening Deposit

$5

Pros

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Low minimum opening deposit
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. No monthly maintenance fees
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Earn a high interest rate on the first $1,000 in your account

Cons

• con icon Two crossed lines that form an 'X'. Low interest rate for balances over $1,000

Product Details

• 23 branches in Massachusetts and New Hampshire
• To become a member of Digital FCU, you or a family member must meet one of the following requirements: 1) You work or are retired from a company that is listed as a participating employer; 2) You belong to an organization that is listed as a participating organization; 3) You live, work, worship, or go to school in a select area in a Massachusetts county (Chelmsford, Lowell, Tewksbury, Worcester are eligible counties) or live in a New Hampshire condominium association
• Access to over 5,500 shared branches and 30,000 surcharge-free ATMs through the CO-OP Shared Branch and ATM networks
• Earn 6.17% APY on the first $1,000 in your account
• Interest rate drops on the remaining balance on your account
• Must keep $5 in account to maintain membership status
• Interest compounded and deposited monthly
• Federally insured by the NCUA

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6% interest savings FAQs

Which bank gives 6% interest in a savings account? Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

Digital Federal Credit Union has a savings account paying 6.17% APY on balances up to $1,000. The remaining balance will earn 0.15% APY.

How do I get 6% on my savings? Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

To get 6.00% APY or more, you may join Digital Federal Credit Union. Membership is limited to people who live in select areas of Massachusetts, live in a New Hampshire participating condominium community, work for a Select Employer Group, or belong to a local participating organization.

How much interest will $20,000 earn in a 6% savings account? Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

If you deposit $20,000 into a savings account paying 6% APY, you'd earn around $1,200 in one year. Currently, there's only one account that pays 6% APY — Digital Federal Credit Union's savings account — and it only pays 6.17% APY on balances up to $1,000. 

Sophia Acevedo Banking Editor Sophia Acevedo is a banking editor at Business Insider. She has spent three years as a personal finance journalist and is an expert across numerous banking topics.ExperienceSophia leads Personal Finance Insider's banking coverage, including reviews, guides, reference articles, and news. She edits and updates articles about banks, checking and savings accounts, CD rates, and budgeting and saving. She is highly knowledgeable about long-term trends in rates and offers at banks across the U.S.Before joining Business Insider, Sophia worked as a journalist at her college newspaper and was a freelance writer. She has spent seven years writing and editing as a journalist.Sophia was nominated for an Axel Springer Award for Change in 2023 for her coverage of ABLE accounts, tax-free savings accounts for people with disabilities. She was also a winner of a 2018 California Journalism Awards Campus Contest for her photography.She loves helping people find the best solutions for their unique needs and hopes that more people will find the tools to solve their financial problems. She’s inspired by stories of everyday people adapting to their financial circumstances and overcoming their fears around money.ExpertiseSophia's expertise includes:

• Bank accounts
• Savings and CD rate trends
• Budgeting
• Saving
• How banks operate

EducationSophia graduated from California State University Fullerton with a degree in journalism and a minor in political science.She is an avid reader across a variety of genres, and she started running in 2021. She ran in the 2024 Los Angeles Marathon. Read more Read less Top Offers From Our Partners Chime® Checking Account Set up Direct Deposit and get your paycheck up to 2 days before your coworkers.** No overdraft fees. No monthly fees. A tooltip Chime is a financial technology company, not a bank. Banking services provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC. **Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. We generally make these funds available on the day the payment file is received, which may be up to 2 days earlier than the scheduled payment date. Start Banking

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Reference

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