Best Places to Get 7% Interest on Your Money in 2025: Top Options Explained

People love talking about high interest rates like they’re some unicorn you’re supposed to chase, but did you know only a tiny number of legit places in 2025 actually offer a true 7% a year on your money? That’s higher than most bank savings accounts, and way above inflation rates in places like Australia, the UK, or the US. Outrageous offers catch your eye all the time, plastered across social media or finance blogs. But before you jump in and start dreaming up shopping lists for your extra interest, let’s sort the facts from the noise. If you’re wondering—“Where can I get 7% interest on my money?”—here’s the no-nonsense answer, loaded with the real numbers, the catches, and the tricks pros use to make these rates work for them.

Why 7% Interest Rates Are So Elusive Right Now

Back in the wild days of the 1980s or even 2008, seeing 7% on a savings account wasn’t that weird. But right now, Australia’s inflation is crawling back below 4%, and the Reserve Bank’s cash rate is 4.35%. Most major banks are playing it safe, giving out only 4% to 5% on even their best, bonus-spangled savings accounts. In the UK, banks rarely nudge past 5%, and US high-yield online savings accounts usually flirt with 4.5% to 5.2%. So why are 7% rates such a unicorn? Here’s the deal: base interest rates are set by central banks, and those ripple down to every other bank. Financial institutions want to protect themselves from risk, and they only dangle the big numbers when they want to attract new customers fast or if they’re offering a product that locks your money up or needs extra risk-taking from you.

In 2025, you’ll spot that only a smattering of offers ever touch 7%. These are almost always attached to short-term promotions, requirements like monthly deposits, or riskier investments. Think carefully: any easy-access account saying “7%” is probably either a hook to get new customers or comes with limits that make it less attractive once you read the fine print. For example, Commonwealth Bank’s Smart Saver had a 5.4% max in June 2025, if you hit all their monthly targets—still short of the magic number. At the same time, some fintech startups toss out token “introductory” rates above 7%, but those vanish in a month or two.

The best play? Aim for places that hit, or come close to 7%, but know you’ll need to pass their eligibility tests, understand the risk, and maybe think outside regular banks.

Legit Ways to Actually Earn 7% or More in 2025

If you search “where can I get 7% interest” and start digging through deal websites, you’ll notice a trend: the best 7% rates rarely show up at traditional banks. But let’s get specific. Here are the main options that Aussies, Brits, and Americans are actually using to get 7%—or pretty close—to grow their savings in 2025:

• Promotional Savings Rates: Some banks roll out headline-grabbing promo rates (often 7% or higher) for brand new customers. ING, ME Bank, and Up in Australia sometimes run these, but usually they last for three or four months. After that, you’re dropped down to a much lower standard rate.
• Reward Accounts: A few banks (especially building societies or credit unions) offer special “bucket” accounts. You might get 7% on your first $1,500 or £1,000 in a “savings pot” if you also set up monthly deposits or spending requirements. But for any money over that limit, the rate tumbles fast.
• Peer-to-Peer Lending: Platforms like Plenti or RateSetter in Australia, Funding Circle in the UK, or Prosper in the US can advertise returns between 6% and 9%. You’re not earning “interest” at a bank though—you’re lending to real people, which adds risk. A 2024 review showed 17% of investors saw late payments, though most got their money back long-term.
• Corporate Bonds and Term Deposits: Some high-yield corporate bonds, especially in the US, are now nudging 6.5% to 7.2%. For example, US junk bonds averaged a 7.3% yield in May 2025, according to S&P Global. But these aren’t protected by government guarantees—if a company tanks, you can lose your cash. In Australia, term deposits still hover around 4.7% for a one-year lock away; a handful of smaller banks sometimes push towards 6% for longer terms, but 7% is rare.
• Dividend Stocks and REITs: Some blue-chip Australian shares (think Telstra, or the big miners) offer dividend yields nudging 7%. ASX-listed REITs (Real Estate Investment Trusts) like Scentre Group boast high yields too, but share prices jump around, so your returns are never guaranteed. It’s not “interest,” but over a year, the right stock can deliver a 7% total return—though you could lose money if the price falls.
• Cryptocurrency Staking and DeFi: Crypto is a rollercoaster, but platforms like Binance or Lido Finance advertise 7% to 12% returns for staking coins like Ethereum. But let’s be real—the risk of sudden losses or hacks is sky high. If you’re not keen to lose your shirt, this isn’t the best spot for your emergency savings.

To make this practical, check out this table comparing real 2025 rates from popular providers:

None of these are perfect “set and forget” savings. Each has some catch—either a maximum balance, limited time offer, or higher risk than a government-guaranteed deposit. Still, people looking for 7% interest mostly end up using a mashup of these: parking some cash in the best promo account they can find, putting a slice in peer-to-peer lending, and a more adventurous bit in shares or bonds.

The Hidden Risks and What to Watch Out For

Whenever big rates pop up, there’s always a risk lurking. Let’s break them down so nobody ends up learning the hard way:

• Short-Term Teasers: That huge 7% is almost always a “honeymoon” offer. After three months, the bank quietly switches you to 2.5% or 3.5%. Unless you love chasing deals, you’ll soon be earning less than you expected.
• Small Balances Only: Some banks only pay the high rate on your first $1,000 or $2,000. If you’re trying to grow a serious pile, those offers lose their shine fast.
• Risky Investments: Peer-to-peer loans and junk bonds sound glamorous but there’s a reason they pay so much. Higher returns go hand-in-hand with higher risk, like borrowers defaulting or a company going belly up. Don’t forget—if a platform fails, there’s often no government safety net.
• Complex Conditions: Some accounts want you to jump through hoops—making monthly deposits, not withdrawing cash, hitting transaction counts. Miss one, and your “7%” is down the drain.
• Inflation Eats Returns: With inflation at 4% in Australia (and higher on some essentials), your real “spending power” gain is less than the headline rate. Always check the after-inflation returns.

A 2024 study by Finder found that 64% of Aussies didn’t read the full terms when opening accounts—and the most confused were under 35. If something feels too easy, go slow, and ask yourself: if this was really risk-free, wouldn’t every big bank be scrambling to match it?

Watch out for fees, too. Some high-yield accounts claw back interest with monthly fees if you don’t do everything exactly right. With riskier platforms (like crypto or peer lending), always check for hidden costs, because losing a chunk of your interest to “service fees” or exchange losses can wipe out gains quickly.

Smart Strategies for Actually Boosting Your Returns

Instead of putting all your cash in one place and crossing your fingers, smart investors mix things up. Here’s how people are chasing 7% in 2025—without getting burned:

• Chase Promo Rates (but Don’t Forget to Switch): Open a new promo account to grab the highest intro rate. Calendar the date it ends, and be ready to switch. Some even automate these reminders.
• Split Your Balance Across Multiple High-Yield Accounts: Use “buckets” and get the top rate for each chunk. If your bank pays 7% on the first $1,000, set up similar accounts elsewhere. Yes, it’s fiddly—but you’ll squeeze out more from your savings.
• Diversify With Bonds and Dividend Stocks: Pick high-yield ETFs or REITs. Instead of putting everything in one stock, spread your risk across lots of companies or properties. If one flops, the others prop you up.
• Only Risk What You’re Happy to Lose in Crypto or Peer-to-Peer: Treat these more like a Lotto ticket than a safe investment. Never park emergency money here. Keep it as a satellite, not your core savings.
• Keep Your Terms Short, Adjust Fast: Markets move. Opt for six or 12-month terms on bonds or term deposits so you can shuffle your money if rates rise elsewhere.

A quick tip: Australians can use the government’s “Financial Claims Scheme” to check if their savings account is 100% protected up to $250,000 per person, per bank. Don’t go over that limit at any one bank. And if you’re in the UK, the FSCS guarantee covers £85,000 per institution.

If you’re going big on stocks, try “DRIP” plans (dividend reinvestment plans). These automatically buy you more shares with your dividends, compounding your returns over time. While not technically a savings account, it helps your money snowball if you can stay invested for a few years.

And always check “comparison rates” on loan peer-to-peer sites. These account for default losses and fees, so the real rate is often a full point lower than what’s advertised up-front.

Real-World Examples: How People Are Making It Work in 2025

Want some inspiration? Let’s look at how real people from Sydney are navigating the maze and actually pulling off 7% returns in 2025.

Jenna, a graphic designer in Bondi, parks $3,000 into ME Bank’s Online Saver when the 6.7% promo is running. She sets a reminder in her phone to move her funds after the promo ends. She splits the remainder of her cash between two fintech challenger banks that pay 7% on small balances and deals with the hassle of meeting their monthly deposit rules.

Kartik, a 52-year-old engineer in Parramatta, slices $4,000 into Plenti’s peer-to-peer lending platform. He spreads his investment across 80 different loans, reducing the chance that one default ruins his year. He’s averaged 7.2% so far—one borrower missed payments but the rest stayed solid.

Samantha, a retiree in Glebe, leans into blue-chip dividend shares through an ETF (exchange-traded fund). Her payout, after franking credits and taxes, averages just under 7% in the past 12 months, though she admits the share price can go up and down.

All of them admit it’s fiddly. Chasing promotions, switching accounts, and reading the small print takes time. But if you want every spare dollar to work hard for you, there’s really no shortcut. You can build your own 7% return—piece here, promo there—by staying curious, reading the terms, and never betting big on promises you don’t fully understand.

Fake “just park it and forget it” deals rarely last. If you want the unicorn 7%, you’ll need to be alert, nimble, and ready to log in and move your money when deals change. The reward? More money, faster goals, and a nice little feeling every time you spot yet another low-rate ad and know you’ve done better.