You don’t need a large balance to earn around 5% on your savings right now. The top APYs are available on amounts up to $5,000.

Savings accounts offer easy access, CDs lock in your rate, and checking accounts can pay as much as 6.75% if you meet certain requirements.

Moving your money to a high-yield account can turn pennies of monthly interest into hundreds of dollars a year.

In some cases, earning a higher rate comes down to how much you deposit, with bigger balances unlocking better returns.

But right now, the opposite is true. Today’s highest-paying accounts offer 5.00% APY on balances up to $5,000—paying $250 in a year—making it possible to earn a leading rate without needing a large deposit. Here are three safe places to put $5,000 to earn those kinds of rates.

Where you keep your savings matters more than you might think. By shopping around and choosing a top-paying account, you can turn minimal interest into hundreds of dollars over time.

High-yield savings accounts are one of the simplest ways to earn a strong return while keeping your money accessible, making them a flexible option for short-term savings or emergency funds. Right now, two accounts stand out for offering a nation-leading 5.00% APY—though both come with limitations.

Varo Bank ties its top rate to a few conditions. To earn 5.00%, you’ll need at least $1,000 in monthly qualifying direct deposits, along with a linked Varo Bank account and positive balances. The 5.00% rate applies only to balances up to $5,000; any amount above that earns 2.50%, and your full balance earns the lower rate in any month you don’t meet the requirements.

AdelFi, a credit union, also offers 5.00% APY on balances up to $5,000, though membership requires agreeing to its statement of Christian faith. Balances from $5,001 to $10,000 earn 2.25%, while amounts above $10,000 earn 0.35%.

One thing to keep in mind: Savings account rates are variable, meaning banks can lower them at any time and without notice. If you’re looking for more certainty around your return, a certificate of deposit offers a way to lock in a fixed rate for a set period.

Not interested in jumping through hoops? Today’s best high-yield savings account with no balance caps or requirements is Pibank’s 4.40% rate.

If you’re comfortable leaving your money parked for a while, a certificate of deposit (CD) can offer something savings accounts can’t: a guaranteed rate. Once you open a CD, your APY is locked in for the full term, even if rates fall.

At the top of our rankings of the best nationwide CDs is a 5-month offer from Nuvision Credit Union paying 5.00% APY. That’s notable not just for the rate, but for the short term—giving savers a way to earn a top return without a lengthy commitment.

There are a couple of considerations to keep in mind. You can deposit only up to $5,000 in this CD (and only one 5.00% CD is allowed per person), and you’ll face an early withdrawal penalty if you need to access your funds before the five-month term ends.

Another option you may be less familiar with is a high-yield checking account. These accounts can offer remarkably high APYs, but earning those rates usually requires a bit more effort.

Instead of earning interest automatically, you qualify for the top rate by meeting activity requirements—usually in the form of making 10 to 15 debit card purchases per month.

Leading our ranking of the best high-yield checking accounts, Genisys Credit Union offers up to 6.75% APY if you meet its debit transaction requirement. Like many accounts in this category, that top rate applies only up to a certain balance: $7,500 for Genisys, but typically $10,000 to $25,000 at other institutions.

If you’d prefer to avoid frequent card swipes, PenAir Credit Union offers a simpler alternative. Its high-yield checking account pays a lower 5.05% APY on up to $10,000 but without any debit card requirement. You will, however, need to set up at least $250 in a monthly ACH deposit to qualify for the high APY.

You don’t need more than $5,000 to earn a top rate—but where you put it matters. The right choice comes down to whether you value easy access, a guaranteed return, or the chance to earn even more than 5.00%.

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