Best HYSAs with No Minimum Balance Requirements (2025 Guide)

When it comes to saving money in 2025, flexibility is everything. Whether you’re just starting to build your emergency fund or you want to park your cash without tying up a large chunk in a savings account, finding a high-yield savings account (HYSA) with no minimum balance is a smart move.

While many banks still require minimum deposits or daily balance thresholds to earn interest, many institutions—especially online banks and credit unions—offer competitive HYSAs with zero balance requirements. This means more Americans can enjoy solid interest rates without worrying about penalties or fees. Let’s explore the best HYSAs with no minimum balance requirements, what to look for when choosing one, and the top options available in 2025.

Best HYSAs with No Minimum Balance Requirements

There are many options for the best HYSAs with no minimum balance requirements. Let’s first examine why minimum balance matters and then examine the high-yield savings accounts. Read on.

Why Minimum Balances Matter in a HYSA

Minimum balance requirements may seem harmless at first, but they can create barriers for many savers:

• Access Issues: New savers, students, gig workers, and low-income households may not have large lump sums to deposit upfront.
• Hidden Fees: Some traditional banks charge monthly maintenance fees if your balance dips below a certain level, eating into your savings.
• APY Traps: Other accounts offer tiered interest rates—if your balance doesn’t meet a certain threshold, your APY drops significantly.

By contrast, no-minimum HYSAs remove all that friction. You can start small and still earn high interest, with complete flexibility to grow at your own pace.

What to Look for in a No-Minimum HYSA

Not all no-minimum accounts are created equal. Here’s what to prioritize when comparing your options:

• High APY: The biggest perk of a HYSA is earning more interest than a traditional savings account. Look for rates over 4.00% APY in 2025.
• No Monthly Fees: If there’s no balance requirement, avoid accounts that charge maintenance or inactivity fees.
• FDIC or NCUA Insurance: This protects your money up to $250,000.
• Easy Access: Strong mobile apps, online tools, and customer service are crucial, especially for online banks.
• Daily or Monthly Compounding: The more frequently interest compounds, the better your long-term returns.

Top HYSAs with No Minimum Balance (2025 List)

Here are the top high-yield savings accounts with no minimum balance requirements you should consider this year:

Alliant Credit Union High-Rate Savings

• APY: 4.10%
• Why it stands out: Alliant combines credit union member benefits with competitive interest rates. There’s no minimum balance to earn the APY, and no monthly fees if you opt into eStatements.
  Bonus: Alliant’s mobile banking features rival many big banks.

Pros:

• Strong APY.
• NCUA insured.
• Reputable service.

Cons:

• Membership requires a simple qualification step (e.g., donation).

Marcus by Goldman Sachs Online Savings

• APY: 4.15%.
• Why it stands out: Marcus is well-known for simplicity and speed. There’s no minimum deposit, no fees, and interest starts accruing right away. It’s built for savers who want to earn more without the hassle.

Pros:

• Competitive APY.
• Excellent digital experience.
• FDIC insured.

Cons:

• No ATM or checking account pairing.

Capital One 360 Performance Savings

• APY: 4.25%.
• Why it stands out: Capital One 360 is great for people wanting a physical branch and mobile banking option. You can open an account with $0 and earn interest from day one.

Pros:

• No fees, no minimums.
• Easy transfers between Capital One accounts.
• Convenient mobile app.

Cons:

• APY could fluctuate.

Discover Online Savings Account

• APY: 4.25%.
• Why it stands out: Discover doesn’t just do credit cards. Their savings product has no minimums or fees and consistently ranks high for customer satisfaction.

Pros:

• Strong customer support.
• No sneaky charges.
• FDIC insured.

Cons:

• No in-person branches.

Synchrony High-Yield Savings

• APY: 4.30%.
• Why it stands out: Synchrony’s HYSA comes with ATM access, which is rare for online-only accounts. There’s no minimum to open or maintain, and you still get a high rate.

Pros:

• ATM card option.
• Flexible access.
• High APY.

Cons:

• No mobile check deposit.

CIT Bank Savings Connect

• APY: 4.60%.
• Why it stands out: CIT Bank is one of the highest APYs on this list, offering strong rates with no ongoing balance requirements. Its mobile experience is improving steadily.

Pros:

• Very high APY.
• No hidden fees.
• FDIC insured.

Cons:

• No ATM access.

Comparison Table: No-Minimum HYSAs at a Glance

Bank/Credit Union	APY	Monthly Fees	ATM Access	Insurance	Best For
Alliant CU	4.10%	None	Yes	NCUA	Credit union savers
Marcus by GS	4.15%	None	No	FDIC	Simple online savings
Capital One 360	4.25%	None	Yes	FDIC	Big bank alternative
Discover Bank	4.25%	None	No	FDIC	No-hassle saving
Synchrony Bank	4.30%	None	Yes	FDIC	Access + high yield
CIT Bank	4.60%	None	No	FDIC	Max interest yield

Pros and Cons of No Minimum Balance HYSAs

Pros

• Beginner-friendly: Anyone can save as little as $1—or even $0.
• No penalty worries: You don’t risk fees or loss of APY if your balance drops.
• Emergency fund ready: Ideal for people saving gradually over time.

Cons

• Fewer perks: Some no-minimum accounts may lack features like ATM access or auto-investing tools.
• Lower APY tiers (rare): Some banks tier rates based on balance, even without enforcing minimums. Always read the fine print.

Who Should Consider a No Minimum HYSA?

Not every saver has the same financial situation, but no-minimum accounts offer flexibility for a wide range of people:

• Students and College Grads: Start saving early with no risk of penalties.
• Freelancers & Gig Workers: Incomes fluctuate—these accounts don’t punish low months.
• Emergency Fund Builders: Saving for unexpected expenses should be low-friction.
• Low-Income Households: Every dollar saved matters—no need to lock in large deposits.

How to Open a No-Minimum HYSA

The process is simple, and most of it can be done online in 5–10 minutes:

1. Choose Your Bank: Compare APYs, features, and user reviews.
2. Submit Your Application: Provide basic personal info and SSN for identity verification.
3. Fund Your Account (optional): Link an external bank account to transfer funds, even $5 to get started.
4. Set Up Alerts & Auto-Deposits: Stay on top of your balance and build consistency.

Tip: Many banks allow you to nickname savings goals within one account—great for budgeting.

Tips for Maximizing Your HYSA Earnings Without a Minimum

You don’t need to deposit thousands to maximize your savings account. Here’s how to optimize it:

• Automate Deposits: Even $25/week adds up fast and builds a habit.
• Keep it Separate from Spending: Avoid transferring money out unless it’s for emergencies or big goals.
• Monitor APY Changes: Rates fluctuate—if your bank drops its yield, be ready to switch.
• Use Apps for Visualization: Some banks offer goal-setting tools or integrations with budgeting apps like Mint, Monarch, or YNAB.

Conclusion

If you’ve hesitated to open a savings account because of balance requirements or hidden fees, now is the time to act. In 2025, competition among online banks and credit unions means savers have more options than ever, with better returns and lower barriers.

Whether just starting your financial journey or looking for a secondary savings stash, a no-minimum HYSA offers flexibility, growth, and peace of mind. Start with what you have, save what you can, and let your money work harder for you, without restrictions. Download the Beem app here to earn up to 5.00% APY today. Your tomorrow will thank you!

FAQs About Best HYSAs with No Minimum Balance Requirements