Best High Yield Savings Accounts With No Minimum Deposit
High yield savings accounts you can open with $0, compared on APY, monthly rules, access to your money and fees. Start earning on any balance.
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Always.bank pays the highest rate we track with no minimum deposit and no monthly rules: 4.10% APY. Happen Bank pays 4.20% APY with $0 to open if you add $250 a month, and adds a free ATM card. American Express (3.20% APY) and Capital One (3.20% APY) also have no minimum and no rules.
You do not need a lump sum to earn a high yield savings rate. Every account below lets you open with $0 and earn its rate from your first dollar. That makes them a good fit if you are starting an emergency fund, saving from each paycheck or moving money over a little at a time.
No minimum savings accounts compared
| Account | APY | Rate as of | Rules for the top rate |
|---|---|---|---|
| Happen Bank LevelUp Savings | 4.20% | Oct 23, 2026 | $250 in monthly deposits for the top rate; 3.00% otherwise |
| Always.bank High Yield Savings | 4.10% | Oct 27, 2026 | None |
| Axos ONE Savings | 4.21% | Oct 27, 2026 | Monthly deposit and balance rules in Axos ONE checking |
| E*TRADE Premium Savings | 3.75% | Oct 27, 2026 | None; new accounts get a 4.25% boost for 6 months |
| American Express High Yield Savings | 3.20% | Oct 27, 2026 | None; fund within 60 days |
| Capital One 360 Performance Savings | 3.20% | Oct 27, 2026 | None |
| SoFi Checking and Savings | 3.30% | Oct 20, 2026 | Direct deposit or $5,000 in deposits every 31 days |
Rates are variable and can change at any time. Each rate shows the date the bank says it applies; we check every figure against the bank’s own website.
The accounts, in detail
Always.bank: highest rate with no minimum and no rules
4.10% APY from your first dollar, with no minimum to open or keep and no monthly rules. It is an online division of 22nd State Banking Company, founded in 1917. The app is new, and money moves by transfer to a linked bank. See is Always.bank legit? and our Always.bank review.
Happen Bank LevelUp Savings: best if you save monthly
4.20% APY in months you deposit $250 or more, and 3.00% APY otherwise, with $0 to open. It is one of very few online savings accounts with its own ATM card, with fee rebates at other ATMs. It scores highest of any savings account on our published scorecard. Read our Happen Bank review.
American Express: no minimum, 24/7 support
3.20% APY with no minimum and no rules, and phone support around the clock. You need to fund the account within 60 days of opening. Read our American Express review.
Capital One 360 Performance Savings: no minimum, with branches
3.20% APY with no minimum and no rules, plus branches and Capital One Cafes for in person help. Read our Capital One review.
E*TRADE Premium Savings: best for investors
3.75% APY standard rate with no minimum, a 4.25% APY boost for six months on new accounts opened by January 10, 2027, and instant transfers to an E*TRADE brokerage account. Read our E*TRADE review.
Axos ONE and SoFi: no minimum, but with monthly rules
Axos ONE Savings pays up to 4.21% APY, and SoFi pays 3.30% APY. Both open with $0, but both tie their top rate to direct deposit or other monthly activity. They are best if your paycheck already goes there. Compare them in SoFi vs. Axos ONE.
Limited time at Axos Bank: New customers can earn 5.00% APY on the first $49,999.99 for their first 6 statement cycles, in each cycle they meet the monthly direct deposit and balance rules. Anyone who has held an Axos or UFB Direct account before does not qualify. Open by Oct 31, 2026. After the promo, savings earns 4.21% APY in months you meet the rules and up to 1.00% in months you miss them. (Terms as of Oct 27, 2026.) How the promo works.
What about accounts with a minimum?
A small minimum is not always a deal breaker. Peak Bank Envision needs just $100 to open and pays 4.27% APY with no rules, the highest standard rate we track at our latest check, though transfers are held for five business days. Western Alliance Bank needs $500, and Ivy Bank needs $2,500 to open and to earn its rate. If you can meet a minimum, see our full best high yield savings accounts.
Does a small minimum really matter?
Usually less than you would think. On a $500 balance, the difference between 4.27% APY at Peak, which needs $100 to open, and 4.10% APY at Always.bank, which needs nothing, is around a dollar a year. At small balances, pick on features that affect you every month: no monthly rules, how fast you can get your money and whether there is an ATM card. As your balance grows past a few thousand dollars, the rate starts to matter more, and it is worth comparing again.
Is it safe to open more than one savings account?
Yes. Many people keep separate accounts for separate goals, such as an emergency fund at one bank and a travel or house fund at another. Opening a savings account usually does not involve a hard credit check. Each bank’s FDIC coverage applies separately, which can also help if your savings grow beyond $250,000. The main cost is keeping track, so name each account by its goal and check the rates a few times a year.
How much can a small balance earn?
Even small balances add up at a high yield rate. $1,000 at 4.10% APY earns about $41 in a year, vs. about $4 at the FDIC national average of 0.38% (as of Oct 19, 2026). If you add $200 a month, you will have about $3,400 after a year, and the interest grows with the balance.
What to look for in a no minimum account
- No minimum to earn the rate, not just to open. Some accounts open with $0 but pay a lower rate on small balances.
- No monthly fee that kicks in below a balance. Every account here has none.
- Rules for the top rate. Check the rate you earn if you miss a rule.
- Automatic transfers. Setting up a transfer on payday is the easiest way to grow a small balance.
- FDIC insurance up to $250,000 per depositor, per ownership category.
How to open a savings account with $0
- Apply online with your Social Security number and a US address. Most take about 10 minutes.
- Link your checking account for transfers.
- Schedule a transfer on every payday, even a small one.
- Check your rate every few months and compare it with our rankings.
Frequently asked questions
Which high yield savings account has no minimum deposit and the highest rate?
Among the accounts we track, Always.bank pays the most with no minimum and no monthly rules: 4.10% APY as of Oct 27, 2026.
Can I open a high yield savings account with $0?
Yes. Always.bank, Happen Bank, American Express, Capital One, E*TRADE, Axos and SoFi all let you open with $0. American Express asks you to fund the account within 60 days.
Do no minimum savings accounts pay lower rates?
Not necessarily. Several pay rates close to the top accounts we track, which need $100 or more to open.
Are no minimum savings accounts FDIC insured?
Yes. Every account on this list is at an FDIC insured bank, up to $250,000 per depositor, per ownership category.
What is a good amount to start a high yield savings account with?
Any amount. With no minimum, you can start with what you have and add to it from each paycheck.
Compare today’s top savings rates
Happen Bank LevelUp SavingsAPY as of Oct 23, 20264.20%with $250 or more in deposits each monthReview →
