A smart personal finance strategy often involves earning some interest on your money while not taking on too much risk. These days, high-yield savings accounts are one viable option, with top rates reaching over 4 percent APY — significantly outpacing the current inflation rate of 2.9%.
In addition to savings accounts, there are plenty of other relatively safe ways to get a return on your funds, whether it’s through other interest-earning accounts, rewards, bonuses or stable investments.
In all, here are seven low-risk strategies to consider in 2025 to make your money work harder for you.
1. Switch to a high-interest savings account
Some banks offer high-interest savings accounts that earn significantly better rates than traditional accounts.
One of the best places to look for high-interest savings accounts is an online-only bank. Online banks, which save significant costs by not having to maintain branches, rarely charge monthly fees. They also typically offer rates that are much higher than those paid by traditional banks.
When searching for a high-yield savings account, don’t just focus on the headline rate. You’ll also want to look at any minimum balance requirements, monthly maintenance fees and how often the bank adjusts its rates in response to Federal Reserve moves. — Hanna Horvath, CFP & Banking Editor at Bankrate
The best high-yield savings accounts currently earn an annual percentage yield (APY) of up to 4.35 percent. This is around seven to eight times the Bankrate national average rate of 0.61 percent as of September 2025.
Based on these rates, if you deposited $5,000 into one account that earns the top yield and another that earns the national average, here’s approximately what it would earn in interest after one year:
- Interest on an account that earns 4.35 percent APY: $217.50
- Interest on an account that earns 0.61 percent APY: $30.50
You’d earn around $200 more by going with the high-yield savings account.
Bankrate’s compound interest calculator allows you to plug your investment amount, timeframe and projected rate of return to see how much your savings can earn.
2. Consider a rewards checking account
Some banks offer rewards checking accounts, which may earn cash back on things you buy with your debit card. Those who make frequent purchases using a debit card would benefit the most from this type of checking account.
Other rewards checking accounts pay higher interest rates, although the balance that earns the elevated rate is often limited. You may also need to jump through some hoops to earn the bonus rate.
For example, Consumers Credit Union (CCU) offers interest rates as high as 5 percent APY on balances of up to $10,000 for its Rewards Checking account. However, to earn that yield, you’ll need to meet all the following requirements:
- Sign up for electronic statements.
- Make at least 12 debit or credit card purchases per month.
- Receive $500 or more in direct deposits, mobile check deposits or ACH credits to the account monthly.
- Spend more than $1,000 on a CCU credit card monthly.
If you choose to use a rewards checking account, make sure that the requirements to earn the elevated interest rate are easy for you to meet. Otherwise, you might earn less interest than you would with a standard savings account.
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This article originally appeared here and was republished with permission.
