Online High Yield Savings Enjoy 4.85% APY with our High Yield Savings Account

An online savings account with no fees, easy access to your money, and one of the best savings rates on the market.

  • Watch your savings grow with our exceptional rates
  • Don't worry about maintenance fees because we don't have them
  • Enjoy knowing your money is secure and FDIC insured
Open an account

Start saving in minutes

Step 1

Open an account online in less than 5 minutes.

Step 2

Transfer money easily and securely from any other bank account.

Step 3

Lock in your savings and watch your money grow for the full term!

High Yield Savings Account facts

  • All of our accounts are FDIC insured up to $250,000 per depositor
  • You must be 18 or older and a resident of the US to open our High Yield Savings Account
  • You'll need your Social Security Number and Government Issued ID to apply
  • This account is only available to open and manage online

Interested in other online savings options?

Looking for a savings option with higher interest rates? Here's some key information about our certificates of deposit accounts:

CDs

  • Your money is held for a fixed time period **
  • You cannot add money to a CD once it's been opened
  • Ideal for savings that you won't need for a little while
  • Great for saving for a home down payment, college, or a big purchase

Most frequently asked questions

You need just $1 to open your new savings account but can open with a deposit up to $500,000. You will need a valid U.S. bank account with an online account username and password.

To find out how to make additional deposits like mobile check deposits and external transfers, refer to the 'Making Deposits and Withdrawals' FAQs.

No minimum balance is required in your high yield savings account. However, if your account balance remains at $0 for sixty (60) days, we have the right to close your account.

It should only take about 5 minutes to open an account, as long as you have all your information and identification available and ready.

To open a high yield savings or CD account, you must be at least 18 years old and be a resident of the U.S.

All primary and joint applicants will need the following:

  • Social Security Number
  • Valid ID (driver’s license, state ID, passport)
  • A valid U.S. bank account with an online account username and password .

If you’re adding a beneficiary, you’ll need the beneficiary’s name, date of birth, and social security number.

By providing your login credentials at your external bank, we can instantly verify and link your account. This allows for a quick transfer of funds to your new account so you can start earning more interest faster.

If you funded your new account from an external financial institution it may take between 1 – 3 business days to receive those funds depending on your financial institution. If you funded via your Valley account, your deposit should be available for immediate use.

There is no monthly fee associated with your high yield savings account.

Interest will begin to accrue on the same business day your first deposit is credited to your new high yield savings account. Keep in mind external transfers may take up to 1 - 3 business days to be received from your financial institution.

Interest is compounded daily and credited to your account monthly.

Yes, Valley is a member of the Federal Deposit Insurance Corporation (FDIC). The FDIC protects your deposits at Valley up to $250,000 per depositor for each qualifying account ownership category. For more information about FDIC insurance, visit the FDIC website at fdic.gov. For reference, our FDIC certificate is 9396.


Federal law requires all financial institutions to obtain, verify and record information that identifies each person who opens an account. When you open an account, we must ask for your name, address, date of birth and other information that will allow us to identify you. We may also request your driver's license or other identifying documents, even if you currently maintain a banking relationship with us. Strict adherence to these regulations helps to protect Valley and its customers from criminal activity. Your cooperation is greatly appreciated.