Watch Your Savings Grow Faster!

Earn 3.70% *APY

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The Basics of High Yield Savings Accounts

Grow your money confidently with an Iowa Trust High Yield Savings Account (HYSA). You’ll enjoy a higher interest rate than a traditional savings account—plus the flexibility of easy deposits, withdrawals, and online access.

Why Choose an Iowa Trust High Yield Savings Account?

No fees

There are no balance requirements to maintain your account, no minimum deposit, and no monthly fees.

No hassle

With online and mobile banking, customers can view balances, track interest earned, and transfer funds anytime, anywhere.

No worries

Your deposits are FDIC-insured up to $250,000, so your money stays protected.

Apply for an Account in minutes!

Open Your Account
  • Step 1: Open a Savings AccountWe'll verify your identity, and you'll receive a confirmation email when your account is opened.
  • Step 2: Register your online accountYou'll receive a confirmation email once your application is approved.
  • Step 3: Sign in and fund your new AccountTransfer funds by ACH or mail a check (processing may take up to 3 business days).
  • Step 4: Start earning and watch your savings grow!

Frequently Asked Questions (FAQs)

What is a High Yield Savings Account (HYSA)?

A High Yield Savings Account is a savings product that offers a higher annual percentage yield (APY) than traditional savings accounts. Iowa Trust’s HYSA is designed to help customers grow their savings faster while maintaining liquidity and safety.

What is the interest rate and is it variable?

Our HYSA offers a competitive, variable interest rate. This means the APY may change over time as market conditions shift.

Is there a minimum balance or deposit requirement?

No, Iowa Trust’s HYSA has no monthly minimum balance requirement, making it accessible to all savers.

$100 minimum balance required to open account.

How often is interest paid?

Interest is compounded and credited monthly. This helps maximize your earnings over time.

Is the account FDIC insured?

Yes. Deposits are insured by the FDIC up to the standard limit per depositor, per ownership category.

How do I fund my High Yield Savings Account?

You can fund your HYSA by:

  • Electronic transfer from another Iowa Trust account or external financial institution using Transfer Now within Online Banking.
  • Direct deposit or mobile deposit (consumer only) of a check.
How quickly can I access my funds?

Funds are typically available within a few business days, depending on the source of the deposit. We may place short holds (up to 5–7 business days) on new or large deposits for security purposes.

Are there any fees associated with the account?

No. Our HYSA has no monthly maintenance or service fees. There are no penalties for maintaining low balances or closing the account.

Can I make transfers or withdrawals at any time?

Yes, you can make electronic transfers to and from your HYSA through Online Banking or the Mobile App. While there are no federal limits on the number of transfers, the account is intended for savings, not frequent transactional use.

How does the High Yield Savings Account compare to a CD (Certificate of Deposit)?

Unlike a CD, which locks funds for a fixed term, the HYSA offers flexibility and liquidity—you can withdraw or add funds at any time without penalty. However, CDs generally provide fixed rates that do not change during the term, offering rate protection in a declining-rate environment.

How will I know if the rate changes?

Customers are notified of any rate changed in their statements.

Can I open more than one High Yield Savings Account?

Yes. You can open multiple accounts to organize savings goals.

How do I open an account?

You can open your HYSA online through Iowa Trust’s secure digital platform or by visiting any Iowa Trust location. The process takes only a few minutes.

Who should consider opening a High Yield Savings Account?

Anyone seeking:

  • A higher return on liquid savings
  • FDIC-insured protection
  • Immediate access to funds without long-term commitment

This makes it ideal for both individual and business customers looking for a safe place to park short-term funds.

How is interest calculated?

Interest is calculated using the daily balance method, applying the daily periodic rate to the principal in the account each day.

*Annual Percentage Yield (APY) effective as of 1/18/2026. No minimum balance to obtain APY.

$100 minimum balance required to open account. The rate may change after the account is opened. Deposits are FDIC insured up to appliable limits. Other terms and conditions may apply. Call for details.