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Best High-Yield Savings Accounts of 2026
High-yield savings accounts at online banks typically pay several times the national average savings rate. This page lists the savings accounts we review, sorted by the APY recorded at our last review, with fees, minimums and who each account suits. APYs are variable and some “up to” rates carry conditions, so check the current rate and requirements on each bank’s site.
Editorial independence: This page contains no affiliate links and no bank pays for placement. The table is sorted by the APY recorded at our last review (April 2026). Rates change frequently, so confirm today’s figure with the bank. See our methodology
Quick Comparison Table
| Rank | Bank | APY (Apr 2026) | Monthly Fee | Min. Deposit | Best For |
|---|---|---|---|---|---|
| 1 | Varo Bank | Up to 5.00% | $0 | $0 | Customers seeking a high‑yield savings and fee‑free checking with digital tools |
| 2 | Axos Bank | 4.61% | $0 | $0 | Rate chasers willing to meet requirements |
| 3 | SoFi | 4.60% | $0 | $0 | Users with direct deposit who want checking and savings in one app |
| 4 | Marcus by Goldman Sachs | 4.40% | $0 | $0 | Serious savers focused on high-yield savings |
| 5 | Ally Bank | 4.35% | $0 | $0 | Savers who want high APY with no fees |
| 6 | Newtek Bank | 4.35% | $0 | $0 | Savers seeking a top‑tier APY and minimal requirements |
| 7 | Capital One 360 | 4.25% | $0 | $0 | Users wanting online banking with some branch access |
| 8 | Discover Bank | 4.25% | $0 | $0 | Users who value customer service and debit rewards |
| 9 | Openbank | 4.20% | $0 | $500 | Tech‑savvy savers comfortable with a smartphone‑only high‑yield account |
| 10 | Quontic Bank | Up to 4.10% | $0 | $100 | Tech‑savvy savers who want competitive rates and unique payment options |
| 11 | Valley Direct | 4.10% | $0 | $1 (existing customers) / $1,000 (new customers) | Savers comfortable with a stand‑alone online savings account |
| 12 | Vio Bank | 4.02% | $0 | $100 | Savers who want a high‑yield savings and don’t need checking or ATM access |
| 13 | Barclays Bank | Up to 4.00% | $0 | $0 | Customers who want a pure high‑yield savings account with no fees |
| 14 | LendingClub LevelUp | Up to 4.00% | $0 | $0 | Users seeking a bundled high‑yield savings and rewards checking account |
| 15 | Bread Savings | 4.00% | $0 | $100 | Dedicated savers seeking a high‑yield account with few frills |
| 16 | EverBank | 3.90% | $0 | $0 (savings) / $100 (checking) | Those seeking both high‑yield savings and a checking account with fee rebates |
| 17 | Bask Bank | 3.90% | $0 | $0 | Travelers and savers wanting high APYs or mileage rewards |
| 18 | CIT Bank | Up to 3.75% | $0 | $100 | Savers seeking strong APYs who can meet minimum balance requirements |
| 19 | Synchrony Bank | 3.50% | $0 | $0 | Savers who want a simple high‑yield savings with ATM access |
| 20 | UFB Direct | Up to 3.26% | $0 | $0 | Consumers seeking interest on both checking and savings and who can meet activity requirements |
| 21 | NBKC Bank | Up to 3.00% | $0 | $0 | Customers looking for an all‑in‑one checking and savings account with low fees |
| 22 | Bluevine Business Checking | Up to 3.00% | $0 (standard plan) | $0 | Small business owners wanting interest‑bearing checking and digital tools |
| 23 | Chime | 2.00% | $0 | $0 | Budget-conscious users and fee haters |
| 24 | Charles Schwab Bank | 0.48% | $0 | $0 | Frequent travelers and investors |
Detailed Reviews
SoFi
Why it stands out: At our last review SoFi paid one of the highest savings APYs, but only for members with qualifying direct deposits or other qualifying activity. Checking and savings sit in one account. The checking balance earns a much lower rate.
Pros
- High savings APY with qualifying direct deposit
- Early direct deposit (up to 2 days)
- No monthly fees or minimums
- Checking and savings in one app
Cons
- Requires direct deposit for max APY
- Lower savings rate without direct deposit
- No physical branches
Best for: People with regular direct deposit who want maximum APY and value-added services beyond banking.
Read Full SoFi Review →Axos Bank
Why it stands out: A high recorded APY, but the top rate has depended on meeting account requirements. Good for rate chasers willing to meet them.
Best for: Savers who can maintain higher balances and don't mind meeting criteria for top rates.
Learn More →Marcus by Goldman Sachs
Why it stands out: Marcus is all about savings: no checking and no frills, just a competitive APY from Goldman Sachs Bank USA with no balance or direct-deposit requirements. Compare it with Ally in our Marcus vs Ally guide.
Best for: Pure savers who don't need checking and value simplicity + brand reputation.
Learn More →See the table above for every savings account we review, and each bank’s review page for details.
How We Rank Savings Accounts
Our methodology considers 4 key factors:
- APY (40%): Higher rates = higher ranking
- Fees (30%): $0 monthly fees preferred
- Features (20%): Mobile app, accessibility, tools
- Requirements (10%): Lower minimums = better score
What is a High-Yield Savings Account?
A high-yield savings account is a savings account that pays meaningfully more interest than traditional bank savings accounts. The average savings rate at large traditional banks remains a fraction of a percent; high-yield online accounts have recently paid several times that, though the exact level moves with Federal Reserve policy. The reason that gap is sustainable is structural — online banks carry lower overhead than branch-based banks and pass much of that saving back to depositors. For more on what the “APY” figure actually represents and how it differs from a stated interest rate, see our APY explainer.
Key Benefits:
- Higher earnings: A high-yield APY on $10,000 produces meaningfully more interest over a year than the traditional-bank average — see the savings calculator for the dollar figure on your specific balance.
- FDIC insurance: Up to $250,000 per depositor, per insured bank, per ownership category — see our FDIC insurance guide for the specifics.
- Liquidity: Access your money anytime, unlike most CDs.
- Compound interest: Most online banks compound interest daily and credit it monthly.
- No principal risk: Deposit accounts at FDIC-insured banks aren't subject to market loss.
FAQs
What APY should I expect from a high-yield savings account?
It depends on the current interest-rate environment. At our April 2026 review, the accounts on this page were recording APYs mostly in the 3.5% to 4.6% range, with some “up to” rates that apply only to limited balances or with conditions. Rates have changed since then, so compare current APYs on the banks’ own sites.
Will high-yield rates stay this high?
Savings rates are tied to the Federal Reserve's benchmark rate. If the Fed raises rates, savings APYs generally increase. If they cut rates, APYs may decrease. Rates can change at any time, so check the bank’s site before opening an account.
Can I lose money in a high-yield savings account?
Not through market losses. Deposits at FDIC-insured banks are protected up to $250,000 per depositor, per bank, per ownership category. Some providers (such as Chime) are fintechs that hold deposits at partner banks, where coverage is pass-through. See our bank vs fintech guide.
If you've already picked an account from this list and you're ready to move money, our step-by-step switching guide walks through how to migrate direct deposit and autopays without missing a payment. For broader context on whether to leave a traditional bank at all, the online vs traditional banks comparison lays out where each model still wins.
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