Valley Bank High-Yield Savings
Valley National Bank offers a 3.95% APY with just a $1 minimum to open, opened through the Raisin platform, held at Valley National Bank (Member FDIC), which we confirmed is an active FDIC member. The rate comes from NerdWallet, our verified data partner with direct provider relationships.
Is the Valley Bank High-Yield Savings worth it?
The Valley Bank High-Yield Savings offers a 3.95% APY with just a $1 minimum to open, opened through the Raisin platform. We source this rate from NerdWallet, our verified data partner with direct provider relationships — so it carries our ◆ Partner data label rather than a rate we fetched from the provider ourselves.
The account is held at Valley National Bank. We confirmed with the FDIC that it is an active insured institution — certificate #9396 in Passaic, New Jersey. Deposits are covered up to $250,000 per depositor, per ownership category.
The honest caveat: the APY is partner-supplied and variable, so confirm the current rate on the provider’s own site before opening. This is not financial advice.
How does a high-yield savings account work?
A high-yield savings account holds cash and pays interest, quoted as an annual percentage yield (APY). The bank can change a variable APY at any time, and federal rules may limit certain withdrawals. Interest compounds — usually daily or monthly — and is taxable income in the year you earn it.
How much could you earn with the Valley Bank High-Yield Savings?
At a 3.95% APY, a $10,000 balance in the Valley Bank High-Yield Savings earns about $395 in interest over a year, before taxes. Double the balance and you roughly double the interest; your real return depends on how long the rate holds.
Illustrative estimate based on the figures on this page, not an offer. Your results will differ.
What are the pros and cons of the Valley Bank High-Yield Savings?
The Valley Bank High-Yield Savings stands out for a 3.95% APY, sourced from our verified data partner, though rate is partner-supplied — not fetched from the provider ourselves.
- a 3.95% APY, sourced from our verified data partner
- No monthly fee and just a $1 minimum to open
- Held at Valley National Bank, an FDIC member we confirmed with the regulator
- Rate is partner-supplied — not fetched from the provider ourselves
- APY is variable and can change without notice
- Online-focused account with limited or no branch access
Who should get the Valley Bank High-Yield Savings?
The Valley Bank High-Yield Savings is best for savers chasing a strong APY.
- Savers chasing a strong APY
- People comfortable with an online-first bank
- Anyone who wants FDIC-insured savings
How does the Valley Bank High-Yield Savings compare?
Among the 29 high-yield savings accounts we track, the Valley Bank High-Yield Savings ranks #19 with a money8020 score of 84/100.
| Product | Score | Tier | Provider |
|---|---|---|---|
| Marcus by Goldman Sachs Online Savings | 96 | Essential | Marcus by Goldman Sachs |
| Bread Savings High-Yield Savings | 94 | Essential | Bread Savings |
| Pibank Savings | 94 | Essential | Pibank |
| Poppy Bank High Yield Savings | 94 | Essential | Poppy Bank |
| Vio Bank High Yield Online Savings | 94 | Essential | Vio Bank (a division of MidFirst Bank) |
See all high-yield savings accounts, ranked →
Common mistakes to avoid with a high-yield savings account
- Chasing a teaser rate without checking the ongoing APY or any balance tier needed to earn it.
- Leaving an emergency fund in a 0.01% big-bank account instead of a high-yield account.
- Assuming the APY is fixed — it is variable and can drop after you open.
- Overlooking transfer times: moving money to a linked bank can take one to three business days.
Key takeaways
- Valley Bank High-Yield Savings earns a money8020 score of 84/100, ranking #19 of 29 high-yield savings accounts.
- a 3.95% APY, sourced from our verified data partner
- At a 3.95% APY, a $10,000 balance in the Valley Bank High-Yield Savings earns about $395 in interest over a year, before taxes.
- Best for savers chasing a strong APY.
- Rate and terms sourced from our verified data partner, NerdWallet.
Frequently asked questions about the Valley Bank High-Yield Savings
What is the APY on the Valley Bank High-Yield Savings?
Per NerdWallet, our data partner, it offers a 3.95% APY with just a $1 minimum to open, opened through the Raisin platform. The APY is variable and can change without notice — confirm the current rate on Valley National Bank's own site. This is not financial advice.
Is the Valley Bank High-Yield Savings FDIC insured?
Yes. Funds are held at Valley National Bank, which we confirmed with the FDIC is an active insured institution (certificate #9396, Passaic, New Jersey). Deposits are insured up to $250,000 per depositor, per ownership category.
Can the rate on the Valley Bank High-Yield Savings change?
Yes. A high-yield savings APY is variable, so the bank can raise or lower it at any time, often following moves in the federal funds rate. Check the rate before you open and review it periodically.
How is interest from the Valley Bank High-Yield Savings taxed?
Savings interest is taxable as ordinary income in the year you earn it. If you earn more than $10, the bank sends a Form 1099-INT, and you report it on your federal return.
Sources
We sourced these figures from our verified data partner and independently confirmed the provider’s regulator status, last checked May 30, 2026. Primary sources: