To find and open a high-yield savings account that's right for you, start with some research regarding rates, terms, and account features. Check our daily ranking of the best high-yield savings account rates to get a head start.

Then, opening a new account is usually an easy process that can be completed online or in person at a bank or credit union. Below, you'll find featured savings and cash management accounts—from banks, credit unions, and other financial institutions that use partner banks—available from our partners, followed by information on how to find the highest savings account rates nationwide.

1. Shop for the Top Rates

Hundreds of savings accounts at banks and credit unions are accessible via the internet. If you hope to beat inflation, you may need to move funds into a high-yield savings account outside your primary bank. There's no limit to the number of checking and savings accounts you can have at multiple banks.

That said, you may already bank at a top-paying institution. So, check what you can earn in a savings account at your existing bank or credit union. Then, review the top national high-yield savings account rates.

Many of the top rates are offered by online banks. Internet-only banks don't carry the overhead costs of physical branches and often pay the most competitive deposit rates in the country. However, many brick-and-mortar institutions now offer separately-branded online banks with competitive rates.

When shopping for rates, be sure to read the fine print regarding:

• Rate: Is the rate introductory or promotional, and available for a limited time only?
• Compounding: How often is earned interest added to your balance?
• Minimum requirements: Do you need a minimum account balance to earn the high-yield APY?
• Maximum requirements: Can you earn high-yield interest rates only up to a certain account balance?

2. Choose the Institution Best for You

After identifying rates of the top-paying savings accounts, it's time to figure out the right choice for you. If you find your existing bank's savings rate competitive and worthwhile, open a new account with your current bank. You'll enjoy the convenience of a single bank login, instantaneous transfers between checking and savings accounts, and a streamlined signup process.

But if you're like most rate shoppers, you'll find that you can earn more by opening a savings account at a new institution. Top national rates are often 10 to 12 times higher than the national average rate.

If a top rate is from a credit union, ensure you qualify. Banking at a credit union requires you to first become a member of that institution. Any credit union appearing on Investopedia's ranking of the top savings accounts accepts members nationwide, although some may require a small membership fee in the form of a charitable donation.

Review any fees that may be associated with the institution's account. Common bank fees include:

• Inactivity fees
• Account closing fees
• Paper statement fees

You may also want to research the institution by reviewing complaints regarding high-yield savings accounts in the Consumer Financial Protection Bureau's Consumer Complaint Database. However, there are very few complaints—only 53 out of over 5 million complaints total—as the CFPB has taken action against companies that misrepresented high-yield savings accounts.

3. Complete the Account Application

Once you've selected your new high-yield savings account institution, complete the required application, likely online. In most cases, it should only take 10 minutes or so.

You will need to provide the institution with your:

• Full name
• Address
• Telephone number
• Email address
• Identification number, such as your Social Security number (SSN) or Taxpayer Identification Number (TIN)
• Driver's license, passport, or other government-issued photo ID number

You'll also need to decide whether to open this account as a single individual or jointly with another person, such as your spouse. If you opt for a joint account, provide all of the second applicant's information, as well.

You can visit a branch if you're opening an account at a physical bank in your community. But even with local institutions, you can likely open an account online. This saves you a trip to the branch and makes for a faster process than in-person with a banker.