Savings
Compare APYs across high-yield savings accounts — from online banks and brokerages to credit unions. Read our analysis on what these rates actually pay, and what they ask for in return, in our Savings Account Market Report.
Last updated: October 20, 2026
APYs shown are approximate and change frequently. Some rates require direct deposit, a minimum balance, or a subscription to unlock. Always confirm the current rate and terms on the provider's website before opening an account.
Rank by what a balance really earns
Teaser rates capped at a low balance drop sharply as the balance grows.
Widely used online banks and fintechs with competitive rates.
| Provider | APY on $10,000 | Structure | What unlocks it | Source | Website | |
|---|---|---|---|---|---|---|
Axos Bank ONE® Savings | 5.00% | Promo | Linked Axos ONE Checking plus either $1,500/mo direct deposit and $1,500 average daily balance, or $5,000/mo and $5,000. Must post by the 25th. New customers who open an Axos ONE bundle 10/1–10/31/26 and meet the checking requirements. First 6 statement cycles, on the first $49,999.99. Not for anyone who has held an Axos or UFB Direct account. | axosbank.com | ||
Marcus by Goldman Sachs Online Savings | 4.50% | Conditional | Referral Rate Boost: open through an existing customer's referral link for an extra 1.00% for 3 months, then reverts to the standard APY. | marcus.com | ||
Wealthfront Cash Account | 4.45% | Conditional | New clients, first 3 months, on balances up to $150,000. Time-limited, but no end date announced. Permanent, with $1,000/mo direct deposit (or $2,500/mo recurring deposits) and a funded investing account. | wealthfront.com | ||
E*TRADE Premium Savings | 4.25% | Promo | New accounts opened 9/22/26–1/10/27 with promo code SAVE800 lock in 4.25% for 6 months on balances up to $10M, then revert to the base rate. Also a cash bonus of up to $800 for qualifying deposits. | us.etrade.com | ||
CIT Bank Platinum Savings | 4.25% | Promo | BOOST50 promo code, 6 months from opening or enrollment, then reverts. Open to both new AND existing customers — unusual. Applies to both tiers (0.75% under $5,000, 4.25% at $5,000+). Enroll by 12/15/26. | cit.com | ||
Betterment Cash Reserve | 4.25% | Promo | New clients with a qualifying deposit, on balances up to $1M. Cash Reserve must be opened within 14 days of joining Betterment. | betterment.com | ||
Newtek Bank Personal High Yield Savings | 4.20% | Flat | No conditions — the rate applies from the first dollar. | newtekbank.com | ||
SoFi Checking and Savings | 4.20% | Promo | Eligible Direct Deposit (recurring payroll, pension, or government benefit ACH), or $5,000+ in qualifying deposits every 31 days. Limited-time boost. New to SoFi Checking and Savings, opened 9/3–12/31/26; qualify within 60 days of opening. Lasts up to 6 months. | sofi.com | ||
Bread Savings | 4.05% | Flat | No conditions — the rate applies from the first dollar. | savings.breadfinancial.com | ||
Vio Bank Online Savings Account | 4.01% | Flat | No conditions — the rate applies from the first dollar. | viobank.com | ||
UFB Direct Portfolio Savings | 4.01% | Promo | Promo code UFB75, for accounts opened 10/1–10/31/26. Adds 0.75% (4.01% total) for the first 6 statement cycles. Anyone who has ever held an Axos Bank or UFB account is excluded. | ufbdirect.com | ||
Chime Savings Account | 4.00% | Conditional | Chime Plus: one $200+ direct deposit or $400+ cumulative in the trailing 34 days. Chime Prime: $3,000+ in direct deposits in the trailing 34 days. | chime.com | ||
Live Oak Bank Personal Savings | 4.00% | Flat | No conditions — the rate applies from the first dollar. | liveoakbank.com | ||
Popular Direct Exclusive Savings | 3.90% | Flat | No conditions — the rate applies from the first dollar. | populardirect.com | ||
Sallie Mae Bank Savings | 3.85% | Flat | No conditions — the rate applies from the first dollar. | salliemae.com | ||
Forbright Bank Growth Savings | 3.85% | Flat | No conditions — the rate applies from the first dollar. | forbrightbank.com | ||
Western Alliance Bank High-Yield Savings | 3.80% | Flat | No conditions — the rate applies from the first dollar. | highyieldsavings.westernalliancebank.com | ||
CIBC Bank USA Agility Savings | 3.75% | Flat | No conditions — the rate applies from the first dollar. | cibcbankusa.com | ||
Synchrony Bank High-Yield Savings | 3.55% | Flat | No conditions — the rate applies from the first dollar. | synchronybank.com | ||
Barclays Bank US Tiered Savings | 3.50% | Tiered | No conditions — the rate applies from the first dollar. | banking.barclaysus.com | ||
Vio Bank Cornerstone Money Market Savings | 3.40% | Flat | No conditions — the rate applies from the first dollar. | viobank.com | ||
Quontic Bank High-Yield Savings | 3.20% | Flat | No conditions — the rate applies from the first dollar. | quontic.com | ||
American Express National Bank High Yield Savings | 3.20% | Flat | No conditions — the rate applies from the first dollar. | americanexpress.com | ||
Ally Bank Online Savings Account | 3.10% | Flat | No conditions — the rate applies from the first dollar. | ally.com | ||
Capital One 360 Performance Savings | 3.10% | Flat | No conditions — the rate applies from the first dollar. | capitalone.com | ||
HSBC Premier Relationship Savings | 3.10% | Conditional | Requires a linked HSBC Premier checking account ($100,000 in combined balances, $5,000/mo direct deposit, or an HSBC mortgage; otherwise $50/mo). Paid automatically for the opening month plus 3 months, then each month needs $500+ in HSBC debit card spend, $500+ in HSBC credit card payments, or $5,000+ in direct deposits. | us.hsbc.com | ||
Citi Accelerate Savings | 3.00% | Flat | No conditions — the rate applies from the first dollar. | online.citi.com | ||
Citizens Access Online Savings | 2.80% | Flat | No conditions — the rate applies from the first dollar. | citizensaccess.com | ||
Varo Bank Savings Account | 2.38% advertised 3.75% | Conditional | ≥$800/mo in qualifying direct deposits plus a positive balance at month end. Pays only on the first $5,000, and applies the following month. | varomoney.com | ||
Flagstar Bank Performance Savings | 0.10% advertised 3.20% | Tiered | No conditions — the rate applies from the first dollar. | flagstar.com | ||
ONE® Savings
on $10,000
Linked Axos ONE Checking plus either $1,500/mo direct deposit and $1,500 average daily balance, or $5,000/mo and $5,000. Must post by the 25th. New customers who open an Axos ONE bundle 10/1–10/31/26 and meet the checking requirements. First 6 statement cycles, on the first $49,999.99. Not for anyone who has held an Axos or UFB Direct account.
Online Savings
on $10,000
Referral Rate Boost: open through an existing customer's referral link for an extra 1.00% for 3 months, then reverts to the standard APY.
Cash Account
on $10,000
New clients, first 3 months, on balances up to $150,000. Time-limited, but no end date announced. Permanent, with $1,000/mo direct deposit (or $2,500/mo recurring deposits) and a funded investing account.
Premium Savings
on $10,000
New accounts opened 9/22/26–1/10/27 with promo code SAVE800 lock in 4.25% for 6 months on balances up to $10M, then revert to the base rate. Also a cash bonus of up to $800 for qualifying deposits.
Platinum Savings
on $10,000
BOOST50 promo code, 6 months from opening or enrollment, then reverts. Open to both new AND existing customers — unusual. Applies to both tiers (0.75% under $5,000, 4.25% at $5,000+). Enroll by 12/15/26.
Cash Reserve
on $10,000
New clients with a qualifying deposit, on balances up to $1M. Cash Reserve must be opened within 14 days of joining Betterment.
Personal High Yield Savings
on $10,000
No conditions — the rate applies from the first dollar.
Checking and Savings
on $10,000
Eligible Direct Deposit (recurring payroll, pension, or government benefit ACH), or $5,000+ in qualifying deposits every 31 days. Limited-time boost. New to SoFi Checking and Savings, opened 9/3–12/31/26; qualify within 60 days of opening. Lasts up to 6 months.
on $10,000
No conditions — the rate applies from the first dollar.
Online Savings Account
on $10,000
No conditions — the rate applies from the first dollar.
Portfolio Savings
on $10,000
Promo code UFB75, for accounts opened 10/1–10/31/26. Adds 0.75% (4.01% total) for the first 6 statement cycles. Anyone who has ever held an Axos Bank or UFB account is excluded.
Savings Account
on $10,000
Chime Plus: one $200+ direct deposit or $400+ cumulative in the trailing 34 days. Chime Prime: $3,000+ in direct deposits in the trailing 34 days.
Personal Savings
on $10,000
No conditions — the rate applies from the first dollar.
Exclusive Savings
on $10,000
No conditions — the rate applies from the first dollar.
Savings
on $10,000
No conditions — the rate applies from the first dollar.
Growth Savings
on $10,000
No conditions — the rate applies from the first dollar.
High-Yield Savings
on $10,000
No conditions — the rate applies from the first dollar.
Agility Savings
on $10,000
No conditions — the rate applies from the first dollar.
High-Yield Savings
on $10,000
No conditions — the rate applies from the first dollar.
Tiered Savings
on $10,000
No conditions — the rate applies from the first dollar.
Cornerstone Money Market Savings
on $10,000
No conditions — the rate applies from the first dollar.
High-Yield Savings
on $10,000
No conditions — the rate applies from the first dollar.
High Yield Savings
on $10,000
No conditions — the rate applies from the first dollar.
Online Savings Account
on $10,000
No conditions — the rate applies from the first dollar.
Performance Savings
on $10,000
No conditions — the rate applies from the first dollar.
Premier Relationship Savings
on $10,000
Requires a linked HSBC Premier checking account ($100,000 in combined balances, $5,000/mo direct deposit, or an HSBC mortgage; otherwise $50/mo). Paid automatically for the opening month plus 3 months, then each month needs $500+ in HSBC debit card spend, $500+ in HSBC credit card payments, or $5,000+ in direct deposits.
Accelerate Savings
on $10,000
No conditions — the rate applies from the first dollar.
Online Savings
on $10,000
No conditions — the rate applies from the first dollar.
Savings Account
on $10,000
Advertised as up to 3.75% — a $10,000 balance earns 2.38%.
≥$800/mo in qualifying direct deposits plus a positive balance at month end. Pays only on the first $5,000, and applies the following month.
Performance Savings
on $10,000
Advertised as up to 3.20% — a $10,000 balance earns 0.10%.
No conditions — the rate applies from the first dollar.
Cash and sweep accounts offered by brokerages and investing apps.
| Provider | APY on $10,000 | Structure | What unlocks it | Source | Website | |
|---|---|---|---|---|---|---|
M1 Finance High-Yield Cash Account | 4.50% | Promo | New clients who have never had an M1 Cash Account. Open by 12/31/26 and fund $10,000+ from an external bank within 30 days. Lasts 12 months from funding. | m1.com | ||
Vanguard VMFXX (default sweep) | 3.82% | Flat | No conditions — the rate applies from the first dollar. | vanguard.com | ||
Public.com High-Yield Cash Account | 3.75% | Conditional | Public Reserve subscription ($20/month) raises the rate to 3.75%. Prorated for the days subscribed. | public.com | ||
Robinhood Gold cash sweep | 3.60% | Conditional | Requires a Robinhood Gold subscription ($5/month or $50/year). Since 11/10/2025 non-Gold accounts earn nothing through the sweep. | robinhood.com | ||
Fidelity Investments SPAXX (core sweep) | 3.51% | Flat | No conditions — the rate applies from the first dollar. | fidelity.com | ||
High-Yield Cash Account
on $10,000
New clients who have never had an M1 Cash Account. Open by 12/31/26 and fund $10,000+ from an external bank within 30 days. Lasts 12 months from funding.
VMFXX (default sweep)
on $10,000
No conditions — the rate applies from the first dollar.
High-Yield Cash Account
on $10,000
Public Reserve subscription ($20/month) raises the rate to 3.75%. Prorated for the days subscribed.
Gold cash sweep
on $10,000
Requires a Robinhood Gold subscription ($5/month or $50/year). Since 11/10/2025 non-Gold accounts earn nothing through the sweep.
SPAXX (core sweep)
on $10,000
No conditions — the rate applies from the first dollar.
Member-owned credit unions with high-yield savings options.
| Provider | APY on $10,000 | Structure | What unlocks it | Source | Website | |
|---|---|---|---|---|---|---|
Mitten Savings Digital High-Yield Savings | 4.01% | Tiered | Open only to adults who live, work, or worship in Michigan, and currently only to U.S. citizens. There is no reduced rate for anyone else — they simply cannot open the account. | mittensavings.com | ||
Langley Federal Credit Union High-Yield Savings | 3.75% | Tiered | eStatements enrollment plus no more than 1 withdrawal/month. Miss either and the ENTIRE balance drops to 0.05%. | langleyfcu.org | ||
USALLIANCE Financial High Dividend Savings | 3.40% | Flat | No conditions — the rate applies from the first dollar. | usalliance.org | ||
Lafayette Federal Credit Union Preferred Savings | 3.20% | Tiered | No conditions — the rate applies from the first dollar. | lfcu.org | ||
Alliant Credit Union High-Rate Savings | 3.01% | Flat | No conditions — the rate applies from the first dollar. | alliantcreditunion.org | ||
Consumers Credit Union Smart Saver | 3.00% | Conditional | Requires a paired CCU checking account receiving $500+/month in direct deposit, mobile deposit, or ACH credits, a $50–$1,000 monthly deposit into Smart Saver, and eDocuments. Any withdrawal during the month, or a missed requirement, drops the rate to 0.25%. | myconsumers.org | ||
PenFed Credit Union Premium Online Savings | 2.70% | Flat | No conditions — the rate applies from the first dollar. | penfed.org | ||
Lake Michigan Credit Union Max Savings | 1.75% advertised 3.90% | Tiered | No conditions — the rate applies from the first dollar. | lmcu.org | ||
America First Credit Union Money Market Savings | 1.25% advertised 3.90% | Tiered | No conditions — the rate applies from the first dollar. | americafirst.com | ||
DCU Primary Savings | 0.55% advertised 5.00% | Tiered | No conditions — the rate applies from the first dollar. | dcu.org | ||
Digital High-Yield Savings
on $10,000
Open only to adults who live, work, or worship in Michigan, and currently only to U.S. citizens. There is no reduced rate for anyone else — they simply cannot open the account.
High-Yield Savings
on $10,000
eStatements enrollment plus no more than 1 withdrawal/month. Miss either and the ENTIRE balance drops to 0.05%.
High Dividend Savings
on $10,000
No conditions — the rate applies from the first dollar.
Preferred Savings
on $10,000
No conditions — the rate applies from the first dollar.
High-Rate Savings
on $10,000
No conditions — the rate applies from the first dollar.
Smart Saver
on $10,000
Requires a paired CCU checking account receiving $500+/month in direct deposit, mobile deposit, or ACH credits, a $50–$1,000 monthly deposit into Smart Saver, and eDocuments. Any withdrawal during the month, or a missed requirement, drops the rate to 0.25%.
Premium Online Savings
on $10,000
No conditions — the rate applies from the first dollar.
Max Savings
on $10,000
Advertised as up to 3.90% — a $10,000 balance earns 1.75%.
No conditions — the rate applies from the first dollar.
Money Market Savings
on $10,000
Advertised as up to 3.90% — a $10,000 balance earns 1.25%.
No conditions — the rate applies from the first dollar.
Primary Savings
on $10,000
Advertised as up to 5.00% — a $10,000 balance earns 0.55%.
No conditions — the rate applies from the first dollar.
Lesser-known online banks that often lead on rate.
| Provider | APY on $10,000 | Structure | What unlocks it | Source | Website | |
|---|---|---|---|---|---|---|
Accordia Bank Rebranded High-Yield Savings | 5.10% | Promo | 'Rebrand Boost' for Utah residents — requires a Utah residential street address at opening (no PO boxes). One boosted account per taxpayer ID. Must open by 1/31/2027; the boost runs until then. | accordia.bank | ||
Elevault | 4.34% | Flat | No conditions — the rate applies from the first dollar. | elevault.app | ||
Bask Bank Interest Savings Account | 4.30% | Promo | New customers only. Open both Interest Savings and Interest Checking 10/1–12/31/26. Each statement period needs a $10,000 average savings balance, ≥$2,500 in qualifying automated deposits to checking (payroll, benefits, recurring external transfers; checks, wires, and P2P excluded), and a $100 minimum daily checking balance. Lasts up to six statement periods and also pays $50 cash per qualifying period, up to $300. | baskbank.com | ||
Peak Bank Envision High-Yield Savings | 4.27% | Tiered | No conditions — the rate applies from the first dollar. | peak.bank | ||
Pibank Pibank Savings | 4.25% | Flat | No conditions — the rate applies from the first dollar. | pibank.com | ||
First National Bank of America High-Yield Savings | 4.20% | Conditional | Promotional 4.20% APY for the first 6 months after opening, on new money — funds not held at FNBA in the prior 30 days. New accounts only. Pays 4.20% at every balance, then Platinum HYSA rates apply. | fnba.com | ||
Western State Bank Online Savings | 4.20% | Flat | No conditions — the rate applies from the first dollar. | onlinesavings.westernbanks.com | ||
Happen Bank LevelUp Savings | 4.20% | Conditional | LevelUp rate needs ≥$250 in cumulative deposits during the prior statement cycle; interest, bonuses and reversals don't count. Applies to the full balance. New accounts earn it automatically until the first evaluation period (open in August, evaluated in October). | happen.com | ||
EverBank Performance Savings | 4.20% | Flat | No conditions — the rate applies from the first dollar. | everbank.com | ||
TIMBR High Yield Savings | 4.15% | Flat | No conditions — the rate applies from the first dollar. | timbrfinancial.com | ||
Zynlo Bank Tomorrow Savings | 4.10% | Flat | No conditions — the rate applies from the first dollar. | zynlobank.com | ||
316 Financial Interest-Earning Savings | 4.05% | Flat | No conditions — the rate applies from the first dollar. | bank316.com | ||
SFGI Direct Rebranded | 4.05% | Flat | No conditions — the rate applies from the first dollar. | sfgidirect.com | ||
Climate First Bank Super-Duper Savings | 4.01% | Flat | No conditions — the rate applies from the first dollar. | climatefirstbank.com | ||
Advantage Direct Savings | 4.01% | Flat | No conditions — the rate applies from the first dollar. | advantage.fvcbank.com | ||
Valley Direct High Yield Savings | 4.00% | Conditional | 4.00% introductory APY for 12 months from opening. New Valley customers only (no Valley personal checking, savings or CD in the prior year), and the opening deposit must be new money. | valleydirect.com | ||
TAB Bank TAB Save | 3.95% | Flat | No conditions — the rate applies from the first dollar. | tabbank.com | ||
Prime Alliance Bank Personal Savings | 3.90% | Flat | No conditions — the rate applies from the first dollar. | primealliance.bank | ||
Colorado Federal Savings Bank Premier Savings | 3.90% | Flat | No conditions — the rate applies from the first dollar. | coloradofederalbank.com | ||
Oloy Bank High-Yield Savings | 3.85% | Tiered | eStatements enrollment required. | oloybank.com | ||
Rising Bank | 3.75% | Flat | No conditions — the rate applies from the first dollar. | risingbank.com | ||
BrioDirect High-Yield Savings | 3.75% | Flat | No conditions — the rate applies from the first dollar. | briodirect.com | ||
Salem Five Direct eOne Savings | 3.66% | Flat | No conditions — the rate applies from the first dollar. | salemfivedirect.com | ||
Affirm Savings Money Account | 3.45% | Flat | No conditions — the rate applies from the first dollar. | affirm.com | ||
RBMAX Max Interest Savings | 3.40% | Tiered | No conditions — the rate applies from the first dollar. | rbmax.com | ||
SmartyPig | 3.40% | Flat | No conditions — the rate applies from the first dollar. | smartypig.com | ||
AAA Banking Triple Advantage Savings | 3.40% | Conditional | AAA Basic, Plus, or Premier membership with The Auto Club Group (CO, FL, GA, IL, IN, IA, MI, MN, NE, NC, ND, SC, TN, WI). Verified at opening and periodically after. | acg.aaa.com | ||
MySavingsDirect | 3.35% | Flat | No conditions — the rate applies from the first dollar. | mysavingsdirect.com | ||
OnePay Cash+ Cash+ Savings | 3.35% | Flat | No conditions — the rate applies from the first dollar. | onepay.com | ||
DollarSavingsDirect | 3.35% | Flat | No conditions — the rate applies from the first dollar. | dollarsavingsdirect.com | ||
Upgrade Premier Savings | 3.30% | Flat | The advertised rate applies only to balances of $1,000 or more. | upgrade.com | ||
EmigrantDirect.com American Dream Savings | 3.00% | Flat | No conditions — the rate applies from the first dollar. | emigrantdirect.com | ||
Alto | 3.00% | Flat | No conditions — the rate applies from the first dollar. | alto.bmo.com | ||
FNBO Direct High-Yield Savings | 3.00% | Flat | No conditions — the rate applies from the first dollar. | fnbodirect.com | ||
First Foundation Bank Discontinued Online Savings | — | Not published | No published rate. | firstfoundationinc.com | ||
Blue Foundry Bank Discontinued Blue Axis Fusion Savings | — | Not published | No published rate. | bluefoundrybank.com | ||
FitnessBank Discontinued Fitness Savings Account | — | Not published | No published rate. | fitnessbank.fit | ||
Primis Bank Discontinued Primis Savings | — | Not published | No published rate. | primis.com | ||
Seattle Bank Discontinued Digital Direct Savings | — | Not published | No published rate. | seattlebank.com | ||
High-Yield Savings
on $10,000
'Rebrand Boost' for Utah residents — requires a Utah residential street address at opening (no PO boxes). One boosted account per taxpayer ID. Must open by 1/31/2027; the boost runs until then.
Interest Savings Account
on $10,000
New customers only. Open both Interest Savings and Interest Checking 10/1–12/31/26. Each statement period needs a $10,000 average savings balance, ≥$2,500 in qualifying automated deposits to checking (payroll, benefits, recurring external transfers; checks, wires, and P2P excluded), and a $100 minimum daily checking balance. Lasts up to six statement periods and also pays $50 cash per qualifying period, up to $300.
Envision High-Yield Savings
on $10,000
No conditions — the rate applies from the first dollar.
Pibank Savings
on $10,000
No conditions — the rate applies from the first dollar.
High-Yield Savings
on $10,000
Promotional 4.20% APY for the first 6 months after opening, on new money — funds not held at FNBA in the prior 30 days. New accounts only. Pays 4.20% at every balance, then Platinum HYSA rates apply.
Online Savings
on $10,000
No conditions — the rate applies from the first dollar.
LevelUp Savings
on $10,000
LevelUp rate needs ≥$250 in cumulative deposits during the prior statement cycle; interest, bonuses and reversals don't count. Applies to the full balance. New accounts earn it automatically until the first evaluation period (open in August, evaluated in October).
Performance Savings
on $10,000
No conditions — the rate applies from the first dollar.
High Yield Savings
on $10,000
No conditions — the rate applies from the first dollar.
Tomorrow Savings
on $10,000
No conditions — the rate applies from the first dollar.
Interest-Earning Savings
on $10,000
No conditions — the rate applies from the first dollar.
on $10,000
No conditions — the rate applies from the first dollar.
Super-Duper Savings
on $10,000
No conditions — the rate applies from the first dollar.
on $10,000
No conditions — the rate applies from the first dollar.
High Yield Savings
on $10,000
4.00% introductory APY for 12 months from opening. New Valley customers only (no Valley personal checking, savings or CD in the prior year), and the opening deposit must be new money.
TAB Save
on $10,000
No conditions — the rate applies from the first dollar.
Personal Savings
on $10,000
No conditions — the rate applies from the first dollar.
Premier Savings
on $10,000
No conditions — the rate applies from the first dollar.
High-Yield Savings
on $10,000
No conditions — the rate applies from the first dollar.
eOne Savings
on $10,000
No conditions — the rate applies from the first dollar.
Money Account
on $10,000
No conditions — the rate applies from the first dollar.
Max Interest Savings
on $10,000
No conditions — the rate applies from the first dollar.
Triple Advantage Savings
on $10,000
AAA Basic, Plus, or Premier membership with The Auto Club Group (CO, FL, GA, IL, IN, IA, MI, MN, NE, NC, ND, SC, TN, WI). Verified at opening and periodically after.
on $10,000
No conditions — the rate applies from the first dollar.
Cash+ Savings
on $10,000
No conditions — the rate applies from the first dollar.
on $10,000
No conditions — the rate applies from the first dollar.
Premier Savings
on $10,000
The advertised rate applies only to balances of $1,000 or more.
American Dream Savings
on $10,000
No conditions — the rate applies from the first dollar.
High-Yield Savings
on $10,000
No conditions — the rate applies from the first dollar.
Online Savings
on $10,000
No published rate.
Blue Axis Fusion Savings
on $10,000
No published rate.
Fitness Savings Account
on $10,000
No published rate.
Digital Direct Savings
on $10,000
No published rate.
Everything you need to know before opening a HYSA — how the yield works, whether your money is safe, how a HYSA compares with CDs and money market accounts, how the interest is taxed, and how to pick the right account.
A high-yield savings account is a federally insured deposit account that pays an annual percentage yield (APY) many times higher than a traditional savings account. Where a big-bank savings account often pays around 0.01%, a competitive HYSA pays roughly 3.5% to 4.5% — sometimes 100 times more on the exact same balance.
The trade-off is minimal. Most HYSAs are offered by online banks, fintechs, or the online arm of a brick-and-mortar bank. They keep costs down by skipping physical branches and pass those savings back to you as a higher rate. You manage the account through an app or website and move money to and from a linked checking account.
A HYSA is built for money you want to keep safe and accessible while it grows — an emergency fund, a down-payment fund, or savings for a near-term goal. It is not a spending account and not an investment account: your balance does not go down (barring withdrawals), and it is never exposed to the stock market.
The number that matters is the APY (annual percentage yield), not the plain "interest rate." APY already bakes in the effect of compounding, so it tells you exactly what a balance earns over a year if the rate holds steady — which makes it the true apples-to-apples figure for comparing accounts.
A worked example: at a 4.00% APY, a $10,000 balance earns about $400 over a year. At 4.50%, the same balance earns roughly $450. Held in a 0.01% traditional savings account, that $10,000 earns just $1. That gap is the entire point of a HYSA.
Most HYSAs compound daily and pay interest monthly, so your interest quickly starts earning interest of its own. The larger the balance and the longer it sits, the more compounding works in your favor.
One caveat: HYSA rates are variable. The APY you open with can change at any time — up or down — as market rates move. More on why that happens below.
Yes — a HYSA at a legitimate bank is one of the safest places to keep money. Deposits at FDIC-member banks are insured up to $250,000 per depositor, per bank, per ownership category. Credit-union accounts carry equivalent NCUA insurance up to the same $250,000 limit. If the institution fails, the federal government guarantees your money up to that limit.
To confirm a provider is covered, look for “Member FDIC” (banks) or “Federally insured by NCUA” (credit unions), or check the FDIC’s BankFind and the NCUA’s research tools directly.
An important nuance for the brokerage and cash-management accounts listed above: a money market *fund* (such as a brokerage’s default cash sweep) is a security, not a bank deposit — it is not FDIC insured. Many cash-management accounts instead sweep your balance to partner banks, which extends FDIC “pass-through” insurance, sometimes well beyond $250,000 by spreading deposits across several banks. Always check how a given account is insured before assuming coverage.
If you hold more than $250,000, you can keep everything insured by spreading balances across multiple banks or across different ownership categories at the same bank.
A HYSA is one of several places to park cash. The right choice depends on how soon you will need the money and how much access you want. Here is how the main options compare:
| Account type | Typical yield | Insured? | Liquidity | Best for |
|---|---|---|---|---|
| High-yield savings (HYSA) | ~3.5%–4.5% | FDIC / NCUA | High — 1–3 day transfers | Emergency funds & short-term goals |
| Traditional savings | ~0.01%–0.10% | FDIC / NCUA | High | Convenience at a branch bank |
| Money market account (MMA) | Similar to HYSA | FDIC / NCUA | High — may include checks/debit | Savings with occasional check access |
| Certificate of deposit (CD) | Fixed, often higher | FDIC / NCUA | Low — locked for the term | Money you won’t touch for months or years |
| Brokerage money market fund | Tracks short-term rates | Not FDIC (SIPC only) | High — once the trade settles | Idle cash inside a brokerage |
| Checking account | ~0% | FDIC / NCUA | Highest — spend instantly | Day-to-day spending & bills |
The takeaway: for an emergency fund or savings you might need on short notice, a HYSA hits the sweet spot of high yield, full insurance, and easy access. If you can lock money away for a fixed period, a CD may pay a bit more; if you want to spend directly from the balance, a money market account or checking account is more convenient.
With dozens of competitive options (the tables above list 84 accounts), the single highest APY is not the only thing that matters. Weigh these factors together:
The advertised APY is not always the APY you will actually earn. Watch for these common catches — several are flagged in the Notes column of the tables above:
Reading the notes and the provider’s rate disclosure before opening an account avoids the unpleasant surprise of earning far less than the number that drew you in.
Interest from a HYSA is taxable. The IRS treats it as ordinary income, taxed at your regular federal (and, where applicable, state) income tax rate — the same as your wages.
Your bank sends a Form 1099-INT if you earn $10 or more in interest during the year, and it reports that figure to the IRS whether or not you receive the form. You report the interest in the year it is credited, even if you leave every dollar in the account.
This is no reason to avoid a HYSA — you are taxed precisely because you earned money. It does mean your after-tax yield is somewhat lower than the headline APY. (This is general information, not tax advice; consult a tax professional about your situation.)
HYSA rates are variable and track the federal funds rate set by the Federal Reserve. When the Fed raises rates, online banks compete for deposits by pushing APYs up; when the Fed cuts, HYSA yields drift down, usually within a few weeks.
That is why the rate you open with is never guaranteed — it is normal for a HYSA APY to move several times a year. The good news: because top online banks compete aggressively, the best accounts tend to stay near the top of the market even as the absolute number changes.
Rather than chasing every small rate difference between banks, it is usually more valuable to pick a provider with a long track record of competitive rates, low fees, and easy access — then revisit the tables above periodically to confirm your rate is still in the competitive range.
What is a good APY for a high-yield savings account?
In the current market, a competitive HYSA pays roughly 3.5% to 4.5% APY, and the top of the market in the tables above reaches about 5.10%. Anything meaningfully below 3% is no longer competitive for an online savings account. Because rates move with the Federal Reserve, "good" is best judged relative to the rest of the market at any given moment rather than as a fixed number.
Is my money safe in an online-only bank?
Yes, as long as the bank is FDIC insured (or the credit union is NCUA insured). Federal insurance covers up to $250,000 per depositor, per institution, per ownership category, and it applies identically to online and brick-and-mortar banks. Online banks are simply cheaper to run, which is how they afford higher rates. Confirm "Member FDIC" or "Federally insured by NCUA" before depositing.
How many high-yield savings accounts can I have?
There is no limit. Many people keep more than one — for example, to earn the top rate at one bank while using another for a specific goal, or to spread balances above $250,000 across multiple banks so everything stays fully FDIC insured. Just remember that every account’s interest is taxable.
Can a bank lower my HYSA rate after I open the account?
Yes. HYSA rates are variable, not fixed, so a bank can change your APY at any time as market rates move — nothing locks it in. If you want a guaranteed rate for a set period, a certificate of deposit (CD) locks the rate in exchange for keeping the money deposited for the full term.
Do I have to pay taxes on high-yield savings interest?
Yes. HYSA interest is taxed as ordinary income at your regular income tax rate. If you earn $10 or more in a year, the bank issues a Form 1099-INT and reports it to the IRS. You owe the tax in the year the interest is credited, even if you never withdraw it. This is general information, not tax advice.
What is the difference between APY and interest rate?
The interest rate is the base rate before compounding; the APY (annual percentage yield) includes the effect of compounding over a year, so it is slightly higher and reflects what you will actually earn. Always compare accounts by APY — it is the true apples-to-apples number.
Is a high-yield savings account better than a brokerage money market fund?
They serve different needs. A HYSA is a bank deposit that is FDIC or NCUA insured and easy to link to your checking account. A brokerage money market fund is a security — not FDIC insured, though covered by SIPC against brokerage failure — that is convenient if your cash already sits in a brokerage near your investments. Yields are often similar; the deciding factors are insurance, access, and where you keep the rest of your money.
How long does it take to withdraw money from a HYSA?
Transferring money from a HYSA to a linked checking account by ACH typically takes 1–3 business days. Some banks offer faster transfers, an ATM card, or same-day movement within their own ecosystem. Because of this short delay, a HYSA is ideal for an emergency fund you can reach in a day or two — but not for money you need to spend the same minute.
Are there limits on how often I can withdraw from savings?
Historically, federal Regulation D capped certain savings withdrawals at six per month. The Federal Reserve removed that requirement in 2020, but some banks still impose their own monthly limits or fees on excess withdrawals. Check your account’s terms if you plan to move money in and out frequently.