15 top-rated FDIC-insured savings accounts available to Michigan residents. Top APY: 4.09%. Online accounts — no local branch required.
4.09% APY. No monthly fee. FDIC insured.
4.03% APY. $100 to open. No monthly fee.
4.02% APY. No minimum to open.
4.00% APY. No monthly fee. FDIC insured.
4.00% APY. $100 to open.
3.90% APY. Yield Pledge program.
3.75%+ APY. $100 minimum to earn APY.
3.70% APY. No minimum. No monthly fee.
3.65% APY. No fees. No minimum.
3.50% APY. No fees. 24/7 customer service.
3.50% APY. No minimum. No monthly fee.
3.30% APY. No fees. Trusted brand.
3.30% APY. No fees. No minimum.
3.30% APY with direct deposit. No account fees.
3.20% APY. No minimum. No monthly fee.
Openbank High Yield Savings is among the top-rated high-yield savings accounts available in Michigan with an APY of 4.09%. All accounts listed are FDIC-insured and available to Michigan residents regardless of local bank branches.
No — most high-yield savings accounts are offered by online banks with no physical branches. They are federally insured (FDIC) and open to residents of Michigan just like any other state. Online accounts typically offer significantly higher APYs than traditional local banks.
With a high-yield savings account at 4.09% APY, $10,000 earns roughly $409 per year. Interest is taxable at the federal level and at the MI state income tax rate.
Rates change frequently · FDIC insured up to $250K · APY as of Q1 2026 · Availability may vary