Smart savers know that collecting as much interest on your money as possible is one of the easiest—and quickest—ways to achieve your financial goals. Promising higher returns while still remaining flexible and relatively low risk, high yield savings accounts have become an attractive solution for people who want to grow their savings but still keep their money easily accessible. As one of the leading commercial banks, Valley Bank offers some of the highest annual percentage yields (APYs) on their high yield savings accounts, backed by their impressive legacy in the industry. We’re reviewing the interest rates, account options and opening process, plus more must-know information to help you decide if the high yield savings account from Valley Bank can help you fast-track your financial goals.
| Highlights |
|---|
| Earn up to 3.96% APY on savings |
| $1 minimum deposit |
| 24/7 access to funds |
| Over 95 years of service |
| Advanced protection technologies to keep customer data secure |
About Valley Bank
Founded in 1927, Valley Bank is a trusted industry leader dedicated to helping individuals, businesses and communities reach their financial goals. With more than $61 billion in assets and 200+ branches nationwide, Valley Bank offers a full range of banking solutions—from everyday checking and savings to loans and wealth management.
By partnering with the secure Raisin platform, Valley Bank is able to deliver some of the market’s most competitive interest rates on their high yield savings accounts to more people nationwide through a simple, online marketplace. Earn more on your cash while enjoying FDIC insurance through Valley Bank for added peace of mind, plus access account perks available exclusively through Raisin, like no hidden fees, super low minimum balance requirements and flexible access to your funds.
Together, Valley Bank and Raisin offer a smart, secure and convenient way to achieve your full earnings potential.
| Pros | Cons |
|---|---|
| Market-leading high yield interest rates help grow funds fast | No ATM or physical branch access so deposits and withdrawals can take longer |
| No direct deposit or activity requirements to earn the advertised APY | Limited features beyond savings (no checking, debit card or bill pay) |
| FDIC insured through Valley Bank up to $250,000 | No app currently available |
| Trusted, long-established bank with decades of banking experience | |
| No hidden fees or surprise charges | |
| Only $1 minimum balance required to open an account | |
| Easy online account opening and management through the Raisin platform | |
| Exclusive bonus cash incentives offered through Raisin | |
| Advanced cybersecurity features keep data and funds protected | |
| Great option for parking emergency funds while earning more interest | |
| Ideal for savers who prefer simplicity over bundled banking products |
Valley Bank Savings Accounts
Valley Bank offers a comprehensive suite of savings products to suit a variety of personal, business and commercial banking needs. But if you’re looking for the fastest returns on short-term savings funds, their high yield savings account offered through the Raisin platform comes with exclusive perks worth considering.
High yield savings accounts provide similar safety of traditional savings accounts but with much higher APYs, making them an attractive option for people looking to stockpile emergency funds or save for something specific in the near future (like a house, trip or car). They also don’t carry the withdrawal penalties or long term limits standard with certificates of deposit (CDs), making them better for people who prefer easy cash access.
And opening a Valley Bank high yield savings account through the Raisin platform provides some of the best terms you’ll find, like:
- No monthly account fees
- No withdrawal limits
- No direct deposit required
- $1 minimum to open an account
- Up to $250,000 of FDIC insurance from a legacy institution
- 24/7 online access and management of your funds through a user-friendly dashboard
- State-of-the-art cybersecurity measures ensure exceptional data encryption & monitoring
- Bonus offers just for opening an account through Raisin
Opening a Valley Bank High Yield Savings Account
Through their partnership with the Raisin platform, Valley Bank is able to offer their exclusive high yield savings account backed by a trusted nearly 100-year legacy to customers across America.
Easily create an account through Raisin in five minutes or less—no credit check required—and start saving with these simple steps:
- Select the Valley Bank high yield savings account on the Raisin platform.
- Create your Raisin account and complete a simple application, verifying important details like your SSN, birthday and phone number.
- Link an external bank account to fund your savings account and start earning interest as soon as your money is successfully transferred.
By opening a Raisin account, you’ll be able to easily manage your money through a streamlined digital platform where you can make deposits, withdrawals, or just track your earnings anytime, anywhere. Plus, Raisin’s easy-to-use dashboard lets you manage your Valley Bank account alongside other savings options in one place, making it effortless to stay organized and maximize your returns.
Exclusive Offers
Raisin often offers exclusive promotions just for signing up through their platform. New customers can take advantage of one of their instant cash offers to up their earnings right from the start. Since these offers can vary depending on when and what type of account you open, it’s best to check directly with Raisin to see their most up-to-date bonus offers.
Customer Support
To maintain the streamlined, centralized experience provided by the Raisin platform, Raisin also handles all aspects of customer support. Earning high praise for their responsive, supportive team based out of New York, NY, you can reach a Raisin representative for help with any aspect of managing your account via:
- Phone, live chat or email
- Monday through Friday, 8 a.m to 8 p.m.
How Valley Bank Compares to the Competition
Valley Bank vs. Ally
Ally offers strong savings rates and excellent online banking tools, but Valley Bank via Raisin stands out for its simplicity and ease of earning competitive APYs without extra requirements like linked accounts or qualifying transactions. With Valley Bank, your deposits are FDIC insured, there are no hidden fees, and you can easily open an account for as little as $1—all while earning a strong rate. Valley Bank makes it especially easy to grow your savings with a simple, no-stress approach that’s ideal for everyday savers.
Valley Bank vs. SoFi
While SoFi is known for their popular high yield savings accounts, Valley Bank offers competitive savings rates without requiring direct deposit, bundled accounts or ongoing activity to earn the advertised APY. With Valley Bank, your deposits are FDIC insured through a long-established bank, with no hidden fees and low minimum balance requirements. While SoFi can offer attractive rates, they often depend on meeting specific conditions. For savers who want strong returns without extra steps, Valley Bank via Raisin provides a more straightforward, low-risk, high-reward way to grow your savings.
The Bottom Line: Why We Love It
Opening a high yield savings account with Valley Bank is one of the simplest, surefire ways to quickly grow your savings with minimal effort. Backed by the nearly 100-year legacy of a trusted, FDIC-insured financial institution and offered through the streamlined, secure Raisin platform, you’ll get some of the highest APYs available without the strict requirements or tiered offerings often seen with similar account options. Raisin also offers exclusive perks like no account fees or withdrawal limits, $1 minimum balance and even cash bonus incentives just for opening an account, making it easy to see serious returns right from the start. With a Valley Bank high yield savings account through Raisin, there are no limits to withdrawals and you don’t incur penalties for accessing your money when you need it, providing a flexible, fast way to grow your funds.
FAQs
Yes. Your deposits are FDIC insured through Valley Bank up to applicable limits (typically $250,000 per depositor). This means your money is protected by the same federal insurance that covers traditional bank accounts. Valley Bank is a long-established, regulated financial institution, and Raisin adds an extra layer of security by using bank-level encryption and secure account access. Together, Valley Bank and Raisin provide a safe, trusted environment for growing your savings with confidence.
One potential thing to consider when opening any high yield savings account is that the interest rate, or APY, is variable. That means that the amount you earn can technically change at any time, most often influenced by the shifts in the federal funds rate set by the Federal Reserve. When the Fed raises rates, HYSA rates typically go up; when the Fed lowers rates, HYSA rates usually follow suit. While APYs can fluctuate, the associated rates on high yield savings accounts still usually provide a much higher return than traditional savings, plus the protection of FDIC insurance.
While Raisin does not provide direct account access through branches or ATMs, transfers to and from your Valley Bank high yield savings account are simple. You can access funds through an ACH transfer to the external bank account you linked during account setup, making it possible to add funds or withdraw money when needed without direct deposits. This process can typically take one to three business days.
Featured In
Featured In
Methodology
The Consumer Rating Difference
Behind Our Best Online Savings Account Ratings
We make choosing the best Online Savings Account easy with expert reviews and rankings.
Here’s the methodology behind our ratings:
Comprehensive Overviews
From preferences, to pricing & more, we cover all you need to know about online savings account in our detailed reviews.
Pricing Details
We break down how much the online saving accounts costs, noting everything that’s included for the different price points.
Online Savings Account Comparisons
With so many different online savings account available, it can be hard to decide which one is right for you. We compare different brands based on your preferences.
