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There are two places paying 6% APY on an account — a local credit union and fintech company with a personal finance app.
Marcos Elihu Castillo Ramirez/Getty Images
Digital Federal Credit Union and Domain Money have accounts that pay 6% APY.
Digital Federal Credit Union has membership eligibility requirements, and Domain Money has several subscription plans.
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 and one fintech company offering 6% APY to help grow your savings. However, these accounts have 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.
Domain Money, a fintech company with a wealth management app, also offers 6.00% APY on an account. Domain isn’t a bank, but banking services and are provided by its partner bank, Georgia Banking Company (Member FDIC). The account itself doesn’t have minimum balance requirements or charge fees, but you’ll need to select a subscription plan to become a Domain member.
Domain subscription plans vary from $0 to $130 per month. The free plan allows you to earn 6.00% APY on your savings. However, if you want premium features — such as personalized financial advice via unlimited chat, text, or video — you’ll have to pay a fee.
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 US.
Featured Nationally Available High-Yield Savings Account Rates
BrioDirect High-Yield Savings Account – Product Name Only: BrioDirect High-Yield Savings Account – APY APYUFB High Yield Savings – Product Name Only: UFB High Yield Savings – APY APYCustomers Bank High Yield Savings Account – Editorial Name Only: Western Alliance Bank High Yield Savings Account – APY APYValley Direct High Yield Savings Account – Product Name Only: Valley Direct High Yield Savings Account – APYAPYCIT Bank Platinum Savings – Product Name Only: CIT Bank Platinum Savings – APY APY
All the accounts listed are FDIC-insured. Federal insurance matters more than a competitive interest rate. If a bank fails, the FDIC protects insured deposits. Up to $250,000 is safe per depositor in a bank account that’s FDIC-insured.
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.
To open a Domain Money Account, you’ll have to select a subscription plan. Domain Money plans vary from $0 to $130 per month.
AccountAPY
Digital Federal Credit Union Savings Account
6.17% APY on $1,000; 0.15% APY on the remaining balance
6.00% APY
6% interest savings FAQs
Which bank gives 6% interest in a savings account?
Digital Federal Credit Union has a savings account paying 6.17% APY on balances up to $1,000. Domain Money, a fintech company, also offers 6.00% APY on an account. Your cash deposits at Domain Money are held with Georgia Banking Company, which provides federal insurance for your deposits.
How do I get 6% on my savings?
To get 6.00% APY or more, you may join Digital Federal Credit Union or Domain Money. Membership at Digital Federal Credit Union 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. Domain Money is available to anyone in the U.S. over the age of 18, but you’ll need to select a subscription plan.
How much interest will $20,000 earn in a 6% savings account?
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 two accounts that pay 6% APY. Digital Federal Credit Union union’s savings account also only pays 6.17% APY on balances up to $1,000.
