Advertiser Disclosure
Many of the offers that appear on this site are from companies from which The Motley Fool receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear) and may influence which products we write about, but our product ratings are not influenced by compensation. We do not include all companies or offers available in the marketplace. Websites may earn compensation when a customer clicks on a link, when an application is approved, or when an account is opened.
Joel O’Leary is a full-time Personal Finance Writer at Motley Fool Money, covering credit cards, bank accounts, investing, mortgages, and other personal finance topics. Joel has been writing about personal finance since 2018, previously leading editorial content for the How To Money podcast and serving as a resident writer at Budgets Are Sexy. He bought his first rental property at age 18, funding the down payment with savings from his high school job at McDonald’s -- a testament to his lifelong passion for smart money decisions. His work aims to make personal finance accessible and actionable for everyday readers. When he’s not writing, Joel enjoys surfing and spending time with his family.
Many or all of the products here are from our partners that compensate us. It’s how we make money. But our editorial integrity ensures that our product ratings are not influenced by compensation.
APY = Annual Percentage Yield.
If you're keeping $10,000 in a plain ol' checking or savings account earning 0.01% APY, you'll earn about $1 in interest over an entire year. Move that same $10,000 to one of the best high-yield savings accounts (HYSAs) and you could earn $300-$400 or more -- same money, zero extra effort.
Our team has spent 100+ hours researching and testing savings accounts across the country, and I've personally had money parked in an HYSA for years. Whether you're building an emergency fund, or just want your cash working harder while it sits, here are the best high-yield savings accounts available in 2026.
Featured High-Yield Savings Accounts
Not sure where to start? These are our top picks at a glance:
SoFi Checking and Savings (Member FDIC): Earn up to 4.00%APY for a limited time + earn a $50 or $400 bonus. Terms apply
Those are our quick hits -- but the right account depends on your situation. Here's the full list, and what makes each one worth considering.
Our team of experts assessed 100+ banking institutions
We evaluate all banking institutions across the same 4 key criteria: annual percentage yield (APY), brand reputation, fees and minimum requirements, and additional perks
Our bank ratings are never influenced by our advertising partners
We strictly feature products that offer federal insurance and high customer satisfaction, keeping our recommendations unbiased
Compare all of our best high-yield savings accounts:
4.80/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
Rate info
3.20%¹ annual percentage yield as of April 23, 2026. Terms apply.
Min. balance to earn: $0²
N/A
4.80/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
¹The Annual Percentage Yield (APY) as advertised is accurate as of April 23, 2026. Interest rate and APY are subject to change at any time without notice before and after a High Yield Savings Account is opened. Interest Rate and APY of a Certificate of Deposit account is fixed once the account is funded.
²There is no minimum balance required to open your Account, to avoid being charged a fee, or to obtain the Annual Percentage Yield (APY) disclosed to you.
³iOS and Android only. See app store listings for operating system info.
⁴For purposes of transferring funds to or from an external bank, business days are Monday through Friday, excluding federal holidays. Transfers can be initiated 24/7 via the website or phone, but any transfers initiated after 7:00 PM Eastern Time or on non-business days will begin processing on the next business day. Funds deposited into your account may be subject to holds. See the Funds Availability section of your Consumer Deposit Account Agreement and Savings Schedules for more information.
¹The Annual Percentage Yield (APY) as advertised is accurate as of April 23, 2026. Interest rate and APY are subject to change at any time without notice before and after a High Yield Savings Account is opened. Interest Rate and APY of a Certificate of Deposit account is fixed once the account is funded.
²There is no minimum balance required to open your Account, to avoid being charged a fee, or to obtain the Annual Percentage Yield (APY) disclosed to you.
³iOS and Android only. See app store listings for operating system info.
⁴For purposes of transferring funds to or from an external bank, business days are Monday through Friday, excluding federal holidays. Transfers can be initiated 24/7 via the website or phone, but any transfers initiated after 7:00 PM Eastern Time or on non-business days will begin processing on the next business day. Funds deposited into your account may be subject to holds. See the Funds Availability section of your Consumer Deposit Account Agreement and Savings Schedules for more information.
4.90/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
up to 4.00%
Rate info
Earn up to 4.00% Annual Percentage Yield (APY) on one SoFi Savings account with a 0.70% APY Boost (added to the 3.30% APY as of 3/31/26) for up to 6 months. Open your first SoFi Checking and Savings account and receive eligible direct deposits OR qualifying deposits of $5,000 every 31 days by 12/31/26. Rates are variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.
Min. balance to earn: $0
Limited-time offer:
Earn $50 or $400 and +0.70% Boost on Savings APY with direct deposit. Terms apply.
Earn up to 4.00% Annual Percentage Yield (APY) on one SoFi Savings account with a 0.70% APY Boost (added to the 3.30% APY as of 3/31/26) for up to 6 months. Open your first SoFi Checking and Savings account and receive eligible direct deposits OR qualifying deposits of $5,000 every 31 days by 12/31/26. Rates are variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.
4.90/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
4.80/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
Rate info
4.10%* APY for balances of $5,000 or more; otherwise, 0.60%* APY
Min. balance to earn: $5,000
Limited-time Offer:
Earn up to 4.10% APY with promo code CITBoost
With the 6 month Boost limited-time offer, you earn 4.10%* APY on balances over $5,000 (balances less than $5,000 earn 0.60%* APY). After the boost is complete you will continue to earn standard rates-- 3.75% APY for balances over $5,000 (balances less than $5,000 earn 0.25% APY). The minimum to open a Platinum Savings account is $100. Member FDIC. No monthly service fees.
4.80/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
Platinum Savings is a tiered interest rate account. Interest is paid on the entire account balance based on the interest rate and APY in effect that day for the balance tier associated with the end-of-day account balance. APYs — Annual Percentage Yields are accurate as of January 9, 2026: 0.25% APY on balances of $0.01 to $4,999.99; 3.75% APY on balances of $5,000.00 or more. Interest Rates for the Platinum Savings account are variable and may change at any time without notice. The minimum to open a Platinum Savings account is $100.
Based on comparison to the national average Annual Percentage Yield (APY) on savings accounts as published in the FDIC National Rates and Rate Caps, accurate as of February 17, 2026.
* Platinum Savings APY Boost Promotion Terms and Conditions
This is a limited time offer available to New and Existing customers who meet the Platinum Savings APY Boost promotion criteria.
Accounts enrolled in the Platinum Savings Annual Percentage Yield (APY) Boost promotion will receive a 0.35% APY boost on the Platinum Savings current standard APY tiers for 6 months following the opening of a new account or when an existing Platinum Savings account is enrolled in the promotion. The Platinum Savings APY boost will be applied on account balances up to $9,999,999.00. Account balances above $9,999,999.00 will earn the standard APY. If the standard-published APY should change during the promotion period, the APY boost will move with it, offering an account APY above the standard rate.
The Promotion begins on February 13, 2026, and ends May 31, 2026. Customers enrolled in the promotion prior to the end date will receive the APY boost for the 6-month period outlined in the terms and conditions.
CIT updates the multiplier information based on the FDIC National Rates. The FDIC publishes their rate on the third Monday of each month (always will be their effective date) and CIT updates its site by the end of that week.
CIT updates its APY disclosure only when there is a rate change (increases or decreases)
Platinum Savings is a tiered interest rate account. Interest is paid on the entire account balance based on the interest rate and APY in effect that day for the balance tier associated with the end-of-day account balance. APYs — Annual Percentage Yields are accurate as of January 9, 2026: 0.25% APY on balances of $0.01 to $4,999.99; 3.75% APY on balances of $5,000.00 or more. Interest Rates for the Platinum Savings account are variable and may change at any time without notice. The minimum to open a Platinum Savings account is $100.
Based on comparison to the national average Annual Percentage Yield (APY) on savings accounts as published in the FDIC National Rates and Rate Caps, accurate as of February 17, 2026.
* Platinum Savings APY Boost Promotion Terms and Conditions
This is a limited time offer available to New and Existing customers who meet the Platinum Savings APY Boost promotion criteria.
Accounts enrolled in the Platinum Savings Annual Percentage Yield (APY) Boost promotion will receive a 0.35% APY boost on the Platinum Savings current standard APY tiers for 6 months following the opening of a new account or when an existing Platinum Savings account is enrolled in the promotion. The Platinum Savings APY boost will be applied on account balances up to $9,999,999.00. Account balances above $9,999,999.00 will earn the standard APY. If the standard-published APY should change during the promotion period, the APY boost will move with it, offering an account APY above the standard rate.
The Promotion begins on February 13, 2026, and ends May 31, 2026. Customers enrolled in the promotion prior to the end date will receive the APY boost for the 6-month period outlined in the terms and conditions.
CIT updates the multiplier information based on the FDIC National Rates. The FDIC publishes their rate on the third Monday of each month (always will be their effective date) and CIT updates its site by the end of that week.
CIT updates its APY disclosure only when there is a rate change (increases or decreases)
4.80/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
3.20%
Rate info
See Capital One website for most up-to-date rates. Advertised Annual Percentage Yield (APY) is variable and accurate as of Mar. 12, 2026. Rates are subject to change at any time before or after account opening.
Min. balance to earn: $0
N/A
4.80/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
4.90/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
3.65%
Rate info
Balances less than $250,000 earn 3.65%, and balances greater than $250,000 earn 3.75%.
Min. balance to earn: $0
N/A
4.90/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
Rate info
The annual percentage yield (APY) is accurate as of January 8, 2026 and subject to change at the Bank’s discretion. Refer to product’s website for latest APY rate. Minimum deposit required to open an account is $500 and a minimum balance of $0.01 is required to earn the advertised APY.
Min. balance to earn: $500 to open, $0.01 for max APY
N/A
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
The annual percentage yield (APY) is accurate as ofJanuary 8, 2026 and subject to change at the Bank’s discretion. Refer to product’s website for latest APY rate. Minimum deposit required to open an account is $500 and a minimum balance of $0.01 is required to earn the advertised APY.
Accurate as of the time of publication. The national average rate referenced is from the FDIC’s published National Rates and Rate Caps for Savings deposit products, accurate as of March 16, 2026. See theFDIC website for more information.
The annual percentage yield (APY) is accurate as ofJanuary 8, 2026 and subject to change at the Bank’s discretion. Refer to product’s website for latest APY rate. Minimum deposit required to open an account is $500 and a minimum balance of $0.01 is required to earn the advertised APY.
Accurate as of the time of publication. The national average rate referenced is from the FDIC’s published National Rates and Rate Caps for Savings deposit products, accurate as of March 16, 2026. See theFDIC website for more information.
4.80/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
3.75%
Min. balance to earn: $0.01
N/A
4.80/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
Rate info
The Axos ONE® Checking account will earn a promotional rate of 0.51% APY for the statement cycle in which the requirements are met. Axos ONE Savings earns a base rate of 1.00% APY. It earns a promotional rate of 4.21% APY on the first $499,999.99 and 4.01% APY on any additional balance for the statement cycle in which the requirements are met.
Min. balance to earn: $0 for base rates, $1,500 for max APY
N/A
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
The Annual Percentage Yield (APY) is accurate as of 2/1/2026. The base and promotional interest rate and corresponding APY for Axos ONE® Checking is variable and is set at our discretion. The base and promotional interest rate and corresponding APY for Axos ONE® Savings is variable and is set at our discretion. Axos ONE® Savings is a tiered variable rate account. Axos ONE® Checking is a non-tiered variable rate account. Interest rates may change as often as daily without prior notice. Fees may reduce earnings.
Promotional terms and conditions are subject to change or removal without notice. Incentive may be taxable and reported on IRS Form 1099-MISC. Consult your tax advisor. After the accounts are opened, the amount of incentive earned will depend on meeting the additional requirements outlined below.
The Axos ONE® Checking account will earn a base rate of 0.00% APY. The Axos ONE® Savings account will earn a base rate of up to 1.00% APY.
Axos ONE® accounts are eligible to receive a promotional APY for each statement cycle where the promotional criteria are met during the Qualification Period. To receive the promotional APY on both Axos ONE® Checking and Axos ONE® Savings, the Axos ONE® Checking account must meet both of the requirements in either Option 1 or Option 2 below during the Qualification Period:
Option 1
Your Axos ONE® Checking account has received monthly qualifying direct deposits of at least $1,500 in total.
The average daily balance of your Axos ONE® Checking account is at least $1,500.
Option 2
Your Axos ONE® Checking account has received monthly qualifying deposits of at least $5,000 in total.
The average daily balance of your Axos ONE® Checking account is at least $5,000.
If both of the requirements in either Option 1 or Option 2 above are met during the Qualification Period:
The Axos ONE® Checking account will earn a promotional rate of 0.51% APY for the statement cycle in which the requirements are met.
The Axos ONE® Savings account will earn a promotional rate of 4.21% APY on the first $499,999.99 and 4.01% APY on any additional balance for the statement cycle in which the requirements are met
The Qualification Period begins on the first business day of the month and runs through the 25th of the month. If the 25th of the month is followed by a non-business day, the average daily balance will be calculated including the following non-business day(s). Any qualifying deposits or qualifying direct deposits received after the 25th of the month will count toward the next Qualification Period. The Qualification Period for new accounts will begin on the day the account is approved. New accounts opened on or after the 25th of the month will be eligible to earn the promotional APY starting in the following month.
A direct deposit is an electronic ACH deposit of your paycheck or government benefits, such as Social Security, Disability, etc. International paychecks, international government benefits, other deposits (i.e., real time payments, online banking transfers, ATM and mobile check deposits, etc.), or person-to-person payments are not considered a direct deposit.
Qualifying deposits only include deposits from the following eligible sources: (i) ACH transfers from external accounts, (ii) inbound wire transfers from external accounts, (iii) mobile check deposits, (iv) real time payments. Qualifying deposits do not include: (i) transfers internal to the bank (i.e., transfers between an account holder's Checking and/or Savings account), (ii) interest payments, (iii) promotional bonuses, (iv) credits, reversals, and refunds, (v) ATM deposits.
Both accounts must be in an open and active status on the 25th of the month and on the date the interest is paid to receive the promotional APY for that statement cycle. If either account closes during the Qualification Period, neither account will be eligible to earn the promotional APY for that statement cycle. Account transactions may take one or more business days from the transaction date to post to the account.
The Annual Percentage Yield (APY) is accurate as of 2/1/2026. The base and promotional interest rate and corresponding APY for Axos ONE® Checking is variable and is set at our discretion. The base and promotional interest rate and corresponding APY for Axos ONE® Savings is variable and is set at our discretion. Axos ONE® Savings is a tiered variable rate account. Axos ONE® Checking is a non-tiered variable rate account. Interest rates may change as often as daily without prior notice. Fees may reduce earnings.
Promotional terms and conditions are subject to change or removal without notice. Incentive may be taxable and reported on IRS Form 1099-MISC. Consult your tax advisor. After the accounts are opened, the amount of incentive earned will depend on meeting the additional requirements outlined below.
The Axos ONE® Checking account will earn a base rate of 0.00% APY. The Axos ONE® Savings account will earn a base rate of up to 1.00% APY.
Axos ONE® accounts are eligible to receive a promotional APY for each statement cycle where the promotional criteria are met during the Qualification Period. To receive the promotional APY on both Axos ONE® Checking and Axos ONE® Savings, the Axos ONE® Checking account must meet both of the requirements in either Option 1 or Option 2 below during the Qualification Period:
Option 1
Your Axos ONE® Checking account has received monthly qualifying direct deposits of at least $1,500 in total.
The average daily balance of your Axos ONE® Checking account is at least $1,500.
Option 2
Your Axos ONE® Checking account has received monthly qualifying deposits of at least $5,000 in total.
The average daily balance of your Axos ONE® Checking account is at least $5,000.
If both of the requirements in either Option 1 or Option 2 above are met during the Qualification Period:
The Axos ONE® Checking account will earn a promotional rate of 0.51% APY for the statement cycle in which the requirements are met.
The Axos ONE® Savings account will earn a promotional rate of 4.21% APY on the first $499,999.99 and 4.01% APY on any additional balance for the statement cycle in which the requirements are met
The Qualification Period begins on the first business day of the month and runs through the 25th of the month. If the 25th of the month is followed by a non-business day, the average daily balance will be calculated including the following non-business day(s). Any qualifying deposits or qualifying direct deposits received after the 25th of the month will count toward the next Qualification Period. The Qualification Period for new accounts will begin on the day the account is approved. New accounts opened on or after the 25th of the month will be eligible to earn the promotional APY starting in the following month.
A direct deposit is an electronic ACH deposit of your paycheck or government benefits, such as Social Security, Disability, etc. International paychecks, international government benefits, other deposits (i.e., real time payments, online banking transfers, ATM and mobile check deposits, etc.), or person-to-person payments are not considered a direct deposit.
Qualifying deposits only include deposits from the following eligible sources: (i) ACH transfers from external accounts, (ii) inbound wire transfers from external accounts, (iii) mobile check deposits, (iv) real time payments. Qualifying deposits do not include: (i) transfers internal to the bank (i.e., transfers between an account holder's Checking and/or Savings account), (ii) interest payments, (iii) promotional bonuses, (iv) credits, reversals, and refunds, (v) ATM deposits.
Both accounts must be in an open and active status on the 25th of the month and on the date the interest is paid to receive the promotional APY for that statement cycle. If either account closes during the Qualification Period, neither account will be eligible to earn the promotional APY for that statement cycle. Account transactions may take one or more business days from the transaction date to post to the account.
4.70/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
Rate info
LevelUp Rate of 4.00% APY applied to full balance with $250+ in deposits in Evaluation Period. Otherwise, accounts earn Standard Rate of 3.00% APY. LevelUp Rate applies for first two statement cycles. Rates variable & subject to change at any time. See terms: https://www.lendingclub.com/legal/deposits/levelup-savings-t-and-cs
N/A
4.70/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
4.70/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
4.70/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
EverBank Performance℠ Savings is unavailable on Motley Fool Money. All information was collected independently and not reviewed for accuracy or provided by the issuer. Some items may be out of date.
EverBank Performance℠ Savings is unavailable on Motley Fool Money. All information was collected independently and not reviewed for accuracy or provided by the issuer. Some items may be out of date.
At Motley Fool Money, we rate savings accounts on a five-star scale, shown in tenths of a point to highlight even small differences between products. Accounts are evaluated across four main criteria:
APY
Brand and reputation
Fees and minimum requirements
Accessibility and features
Scores may be adjusted to reward limited-time high rates or penalize accounts with excessive fees. Our goal is to highlight accounts that are competitive, easy to use, and backed by trusted institutions. Learn more about how Motley Fool Money rates bank accounts.
At Motley Fool Money, we rate savings accounts on a five-star scale, shown in tenths of a point to highlight even small differences between products. Accounts are evaluated across four main criteria:
APY
Brand and reputation
Fees and minimum requirements
Accessibility and features
Scores may be adjusted to reward limited-time high rates or penalize accounts with excessive fees. Our goal is to highlight accounts that are competitive, easy to use, and backed by trusted institutions. Learn more about how Motley Fool Money rates bank accounts.
Expert insights on savings rates
The Federal Reserve cut interest rates three times in 2025, which has already started to take some pressure off savings yields. Looking ahead to 2026, most forecasts suggest a slower pace of cuts or a pause as the Fed monitors inflation and economic growth. That means rates on high-yield savings accounts could drift lower over time, even if the process isn’t immediate.
Even so, these accounts remain a smart place to keep money you want protected from the ups and downs of the stock and bond markets. Cash doesn’t lose value, and most high-yield savings accounts are FDIC insured up to $250,000 per account type.
They’re still called “high-yield” savings accounts for a reason. Regardless of what the Fed does next, these accounts typically pay meaningfully more than traditional checking or savings options, making them a solid choice for short-term savings and emergency funds.
-Robert Brokamp, Certified Financial Planner® and Senior Advisor at The Motley Fool
Reviews of our favorite high-yield savings accounts
Choosing the right savings account isn't about just picking the highest APY. Below, we break down what makes each account worth considering -- the perks, the caveats, and who it's actually a good fit for.
Best for AMEX cardholders: American Express® High Yield Savings Account
4.80/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
4.80/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
3.20%¹
Rate info
3.20%¹ annual percentage yield as of April 23, 2026. Terms apply.
Min. To Earn APY
$0²
Competitive APY
No monthly account fee²
Comfort of a well-known brand and reputation
Unlimited number of external transfers (up to daily transaction limits)⁴
24/7 customer support
FDIC insured
No ATM access
No branch access; online only
No cash deposits
American Express High Yield Savings may not have the highest APY on our list, but it still offers a rate that is above the national average and requires no minimum deposit to open for the APY they offer². It's a good fit for those who want to save at a competitive rate while avoiding withdrawal limits or minimum balance requirements.
¹The Annual Percentage Yield (APY) as advertised is accurate as of April 23, 2026. Interest rate and APY are subject to change at any time without notice before and after a High Yield Savings Account is opened. Interest Rate and APY of a Certificate of Deposit account is fixed once the account is funded.
²There is no minimum balance required to open your Account, to avoid being charged a fee, or to obtain the Annual Percentage Yield (APY) disclosed to you.
³iOS and Android only. See app store listings for operating system info.
⁴For purposes of transferring funds to or from an external bank, business days are Monday through Friday, excluding federal holidays. Transfers can be initiated 24/7 via the website or phone, but any transfers initiated after 7:00 PM Eastern Time or on non-business days will begin processing on the next business day. Funds deposited into your account may be subject to holds. See the Funds Availability section of your Consumer Deposit Account Agreement and Savings Schedules for more information.
Why I like it: The American Express® High Yield Savings Account is a high-trust option from a name you already know. There are no monthly fees, no minimums, and the account is refreshingly easy to use.2 It's also included in our list of the 10 safest banks in the U.S., so you can rest easy parking a large balance there.
What you should know: If you're already an American Express National Bank (Member FDIC) customer, adding this HYSA to your lineup is quick and seamless. Just keep in mind Amex is an online-only bank -- there's no ATM access or debit card, so your funds must be accessed via its website or mobile app.3
First-hand review from one of our employees who uses American Express® High Yield Savings Account (Member FDIC) personally:
"I was drawn to an American Express® High Yield Savings Account because of its high APY, absence of fees and withdrawal limits, and my trust in the brand.2 The account integrates seamlessly with my other bank accounts. The user interface is easy to use. As an existing Amex card holder, opening a savings account with them was painless."
-Jack Caporal, Research Director
Best for direct deposit: SoFi Checking and Savings (Member FDIC)
4.90/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
4.90/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
Earn $50 or $400 and +0.70% Boost on Savings APY with direct deposit. Terms apply.
Earn up to 4.00% Annual Percentage Yield (APY) on one SoFi Savings account with a 0.70% APY Boost (added to the 3.30% APY as of 3/31/26) for up to 6 months. Open your first SoFi Checking and Savings account and receive eligible direct deposits OR qualifying deposits of $5,000 every 31 days by 12/31/26. Rates are variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.
APY
up to 4.00%
Rate info
Earn up to 4.00% Annual Percentage Yield (APY) on one SoFi Savings account with a 0.70% APY Boost (added to the 3.30% APY as of 3/31/26) for up to 6 months. Open your first SoFi Checking and Savings account and receive eligible direct deposits OR qualifying deposits of $5,000 every 31 days by 12/31/26. Rates are variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.
Min. To Earn APY
$0
Competitive APY on both Savings and Checking
No monthly account fee
Welcome bonus up to $400 (direct deposit required)
ATM access
Unlimited number of external transfers (up to daily transaction limits)
FDIC insured (up to $3M with opt-in to SoFi Insured Deposit Program)
Early access to direct deposits
Tools to help you track savings goals
Combo account only; no stand-alone savings or checking
Maximum Savings APY requires direct deposit
No branch access; online only
Overdraft protection requires monthly direct deposit minimum
For those who plan to set up direct deposit with their new account, we think SoFi Checking and Savings (Member FDIC) is hard to beat. Not only does this savings account offer a strong APY, but the linked checking account earns an above-average rate, too -- which is a rare perk. Plus, new customers earn a bonus of up to $400 with eligible direct deposit. Frankly, it's the kind of combo that could make it worthwhile to switch banking relationships.
Why I like it: SoFi® has a way of winning people over. You might come for the high annual percentage yield (APY), but many end up switching their everyday banking here too. With no account fees, helpful savings tools, and a super clean app, it just makes managing money easy.
And right now, there's a limited-time offer available: Earn $50 or $400 and +0.70% Boost on Savings APY with direct deposit. Terms apply.
What you should know: To unlock the best perks and highest APY, you'll need to set up direct deposit. SoFi® automatically opens both a checking and savings account, so you can move money between spending and saving without skipping a beat.
First-hand review from one of our employees who uses SoFi Checking and Savings (Member FDIC) personally:
"I was interested in an online bank since I'd seen that a lot of them offered higher APYs than traditional banks. We chose to go with SoFi® because it offered some of the highest rates and had good reviews. Overall, it has been a good fit for us. Transfers are seamless, and the app is easy to navigate and keep track of activity with."
-Liz Wilson, Software Developer
Best for balances over $5,000: CIT Platinum Savings
4.80/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
4.80/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
With the 6 month Boost limited-time offer, you earn 4.10%* APY on balances over $5,000 (balances less than $5,000 earn 0.60%* APY). After the boost is complete you will continue to earn standard rates-- 3.75% APY for balances over $5,000 (balances less than $5,000 earn 0.25% APY). The minimum to open a Platinum Savings account is $100. Member FDIC. No monthly service fees.
APY
up to 4.10%*
Rate info
4.10%* APY for balances of $5,000 or more; otherwise, 0.60%* APY
Min. To Earn APY
$5,000
Competitive APY
No account opening or maintenance fees
Unlimited number of external transfers (up to daily transaction limits)
FDIC insured
Interest compounds daily so your money can grow a bit faster
Balance requirement for maximum APY
No branch access; online only
CIT Platinum Savings is a no-frills high-interest savings account that offers one of the highest APYs we've found available today -- as long as you can maintain a $5,000 minimum balance. Plus, customers can make an unlimited number of transfers and withdrawals each month (many savings accounts have monthly limits).
Platinum Savings is a tiered interest rate account. Interest is paid on the entire account balance based on the interest rate and APY in effect that day for the balance tier associated with the end-of-day account balance. APYs — Annual Percentage Yields are accurate as of January 9, 2026: 0.25% APY on balances of $0.01 to $4,999.99; 3.75% APY on balances of $5,000.00 or more. Interest Rates for the Platinum Savings account are variable and may change at any time without notice. The minimum to open a Platinum Savings account is $100.
Based on comparison to the national average Annual Percentage Yield (APY) on savings accounts as published in the FDIC National Rates and Rate Caps, accurate as of February 17, 2026.
* Platinum Savings APY Boost Promotion Terms and Conditions
This is a limited time offer available to New and Existing customers who meet the Platinum Savings APY Boost promotion criteria.
Accounts enrolled in the Platinum Savings Annual Percentage Yield (APY) Boost promotion will receive a 0.35% APY boost on the Platinum Savings current standard APY tiers for 6 months following the opening of a new account or when an existing Platinum Savings account is enrolled in the promotion. The Platinum Savings APY boost will be applied on account balances up to $9,999,999.00. Account balances above $9,999,999.00 will earn the standard APY. If the standard-published APY should change during the promotion period, the APY boost will move with it, offering an account APY above the standard rate.
The Promotion begins on February 13, 2026, and ends May 31, 2026. Customers enrolled in the promotion prior to the end date will receive the APY boost for the 6-month period outlined in the terms and conditions.
CIT updates the multiplier information based on the FDIC National Rates. The FDIC publishes their rate on the third Monday of each month (always will be their effective date) and CIT updates its site by the end of that week.
CIT updates its APY disclosure only when there is a rate change (increases or decreases)
Why I like it: If you can keep at least $5,000 in your savings account, CIT Platinum Savings is a strong contender. The top tier rate is competitive, and the limited-time boost (with promo code CITBoost) can give your balance an extra bump for six months. There are no monthly fees, and the $100 minimum to open makes it accessible.
What you should know: This is a tiered account, and the gap between tiers matters. If you're parking less than $5,000, you'll earn a lower APY, and even with the temporary boost, it lags behind some of the flat-rate accounts on this page. If your balance is under $5,000, you'll likely come out ahead with one of the no-tier options above that pays its highest APY on every dollar you deposit.
Best for branch access: Capital One 360 Performance Savings
4.80/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
4.80/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
3.20%
Rate info
See Capital One website for most up-to-date rates. Advertised Annual Percentage Yield (APY) is variable and accurate as of Mar. 12, 2026. Rates are subject to change at any time before or after account opening.
Min. To Earn APY
$0
Competitive APY
No monthly account fee
Comfort of a well-known brand and reputation
Branch access (if you live near one)
24/7 customer support
FDIC insured
No ATM access
Capital One 360 Performance Savings checks all the boxes we look for in a high-yield savings account. It even offers branch locations and Capital One Cafes where customers can seek in-person support (if you live near one). This makes it a great fit when you want to reap the rewards of online banking but aren't quite ready to cut ties with brick-and-mortar banks.
Why I like it: What sets this bank apart is the availability of branch locations and full-service banking support. It just adds a nice layer of convenience rarely found with high-yield savings accounts.
What you should know: While the account offers branch access, this perk is only useful if you live near a Capital One location -- otherwise, in-person banking isn't an option. Make sure to check that before deciding if this is right for you.
First-hand review from one of our employees who uses Capital One 360 Performance Savings personally:
"My family and I have enjoyed the convenience of banking with Capital One overall. The accounts are easy to use, the interface is simple, money moves quickly, and while savings rates aren't top of the market, they're much higher than mainline banks."
-Matt Koppenheffer, Coverage Team Lead
Best for set-and-forget banking: Barclays Tiered Savings
4.90/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
4.90/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
3.65%
Rate info
Balances less than $250,000 earn 3.65%, and balances greater than $250,000 earn 3.75%.
Min. To Earn APY
$0
Competitive APY
No monthly account fee
Unlimited number of external transfers (up to daily transaction limits)
FDIC insured
No minimum deposit to open an account
Balance requirement for maximum APY
No ATM access
No wire transfers (inbound or outbound)
No branch access; online only
Barclays Tiered Savings rewards savers with a tiered APY structure, offering higher rates as your balance grows. No monthly fees and no minimum balance to open mean it's accessible to everyone, while unlimited transfers and withdrawals let you manage your savings your way.
Why I like it: One of the best things about Barclays is you earn the same high APY whether you have $1,000 or $100,000 in your account. Only balances above $250,000 qualify for a further premium tier, but even then, lower balances still earn a rate that beats most traditional banks.
What you should know: There's no debit card or checking account available at Barclays. And since money transfers can take a couple days to process, it's better suited for money you're setting aside for longer-term goals.
Best for simplicity: Western Alliance Bank High-Yield Savings Premier
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
3.80%
Rate info
The annual percentage yield (APY) is accurate as of January 8, 2026 and subject to change at the Bank’s discretion. Refer to product’s website for latest APY rate. Minimum deposit required to open an account is $500 and a minimum balance of $0.01 is required to earn the advertised APY.
Min. To Earn APY
$500 to open, $0.01 for max APY
Competitive APY
No monthly account fee
Unlimited number of external transfers (up to daily transaction limits)
FDIC insured
Can open an individual or joint account
Deposits and withdrawals can only be conducted via ACH transfer to/from an external bank account (limit to one linked account)
No ATM access
No wire transfers (inbound and outbound)
No branch access; online only
Western Alliance Bank offers a higher APY than most high-yield savings accounts. Plus, it's FDIC insured; therefore, deposits are perfectly safe up to applicable legal limits. The main drawback is that accounts don't have many features. For example, you can only deposit and withdraw funds via ACH transfer to/from an external bank account. This account is solid for those who want a sky-high APY, but don't mind a bare-bones banking experience.
The annual percentage yield (APY) is accurate as ofJanuary 8, 2026 and subject to change at the Bank’s discretion. Refer to product’s website for latest APY rate. Minimum deposit required to open an account is $500 and a minimum balance of $0.01 is required to earn the advertised APY.
Accurate as of the time of publication. The national average rate referenced is from the FDIC’s published National Rates and Rate Caps for Savings deposit products, accurate as of March 16, 2026. See theFDIC website for more information.
Why I like it: Western Alliance Bank High-Yield Savings Premier offers a 3.80% APY on all balances -- no tiers or minimum balance hoops to jump through. You'll need $500 to open the account, but once it's funded, you can maintain any balance and still earn the same competitive rate. It's a strong, straightforward option for savers looking for solid returns from a reputable bank.
What you should know: Even though Western Alliance Bank has an app, you'll need to access your Western Alliance Bank High-Yield Savings Premier account through the bank's website for now. It's an online-only experience, but transfers and account management are easy once you're set up.
Best for integrated banking: E*TRADE Premium Savings
4.80/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
4.80/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
With no fees and no account minimums, E*TRADE Premium Savings can be a great add-on to your E*TRADE brokerage account. Its APY is decent, but you can find better interest rates at other banks.
Why I like it: E*TRADE isn't just for stock investing. The E*TRADE Premium Savings account offers a competitive APY, no monthly fees, and easy transfers between your savings, checking, and brokerage accounts -- all in one place.
What you should know: This savings account pairs well with the E*TRADE Max-Rate Checking account, which also earns a competitive APY and includes global ATM fee refunds. It's a great fit for savers who also want to keep their investing and banking under one roof.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
up to 4.21%
Rate info
The Axos ONE® Checking account will earn a promotional rate of 0.51% APY for the statement cycle in which the requirements are met. Axos ONE Savings earns a base rate of 1.00% APY. It earns a promotional rate of 4.21% APY on the first $499,999.99 and 4.01% APY on any additional balance for the statement cycle in which the requirements are met.
Min. To Earn APY
$0 for base rates, $1,500 for max APY
Earn a competitive APY on checking and savings
Pay no monthly maintenance or account fees
No cap on how much you can save
Access to fee-free ATM network
Extra conditions required to earn the advertised rate
No physical branches for in-person help
The Axos ONE® bundle makes your money work overtime – all under one roof. Meet the direct deposit and balance requirements, and you'll earn up to 4.21% APY on savings and up to 0.51% APY on checking, some of the highest rates we've seen lately. There are no physical branches, but you can still access cash easily through a network of over 95,000 fee-free ATMs. It's a simple, high-reward setup that actually pays off.
The Annual Percentage Yield (APY) is accurate as of 2/1/2026. The base and promotional interest rate and corresponding APY for Axos ONE® Checking is variable and is set at our discretion. The base and promotional interest rate and corresponding APY for Axos ONE® Savings is variable and is set at our discretion. Axos ONE® Savings is a tiered variable rate account. Axos ONE® Checking is a non-tiered variable rate account. Interest rates may change as often as daily without prior notice. Fees may reduce earnings.
Promotional terms and conditions are subject to change or removal without notice. Incentive may be taxable and reported on IRS Form 1099-MISC. Consult your tax advisor. After the accounts are opened, the amount of incentive earned will depend on meeting the additional requirements outlined below.
The Axos ONE® Checking account will earn a base rate of 0.00% APY. The Axos ONE® Savings account will earn a base rate of up to 1.00% APY.
Axos ONE® accounts are eligible to receive a promotional APY for each statement cycle where the promotional criteria are met during the Qualification Period. To receive the promotional APY on both Axos ONE® Checking and Axos ONE® Savings, the Axos ONE® Checking account must meet both of the requirements in either Option 1 or Option 2 below during the Qualification Period:
Option 1
Your Axos ONE® Checking account has received monthly qualifying direct deposits of at least $1,500 in total.
The average daily balance of your Axos ONE® Checking account is at least $1,500.
Option 2
Your Axos ONE® Checking account has received monthly qualifying deposits of at least $5,000 in total.
The average daily balance of your Axos ONE® Checking account is at least $5,000.
If both of the requirements in either Option 1 or Option 2 above are met during the Qualification Period:
The Axos ONE® Checking account will earn a promotional rate of 0.51% APY for the statement cycle in which the requirements are met.
The Axos ONE® Savings account will earn a promotional rate of 4.21% APY on the first $499,999.99 and 4.01% APY on any additional balance for the statement cycle in which the requirements are met
The Qualification Period begins on the first business day of the month and runs through the 25th of the month. If the 25th of the month is followed by a non-business day, the average daily balance will be calculated including the following non-business day(s). Any qualifying deposits or qualifying direct deposits received after the 25th of the month will count toward the next Qualification Period. The Qualification Period for new accounts will begin on the day the account is approved. New accounts opened on or after the 25th of the month will be eligible to earn the promotional APY starting in the following month.
A direct deposit is an electronic ACH deposit of your paycheck or government benefits, such as Social Security, Disability, etc. International paychecks, international government benefits, other deposits (i.e., real time payments, online banking transfers, ATM and mobile check deposits, etc.), or person-to-person payments are not considered a direct deposit.
Qualifying deposits only include deposits from the following eligible sources: (i) ACH transfers from external accounts, (ii) inbound wire transfers from external accounts, (iii) mobile check deposits, (iv) real time payments. Qualifying deposits do not include: (i) transfers internal to the bank (i.e., transfers between an account holder's Checking and/or Savings account), (ii) interest payments, (iii) promotional bonuses, (iv) credits, reversals, and refunds, (v) ATM deposits.
Both accounts must be in an open and active status on the 25th of the month and on the date the interest is paid to receive the promotional APY for that statement cycle. If either account closes during the Qualification Period, neither account will be eligible to earn the promotional APY for that statement cycle. Account transactions may take one or more business days from the transaction date to post to the account.
Why I like it: Axos Bank rewards you for keeping your checking and savings under one roof. When you open an Axos ONE® checking and savings bundle, you can qualify for one of the most competitive APYs available -- a nice perk if you're looking for a simple, all-in-one setup that earns more on your cash.
What you should know: The boosted APY isn't automatic. To qualify, you'll need to meet one of these requirements:
Receive at least $1,500 in monthly qualifying direct deposits and maintain an average daily balance above $1,500, or
Receive at least $5,000 in monthly qualifying deposits and keep an average daily balance above $5,000.
If you don't meet the criteria, you'll earn a lower rate.
4.70/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
4.70/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
4.00% APY with $250+ in monthly deposits
Rate info
LevelUp Rate of 4.00% APY applied to full balance with $250+ in deposits in Evaluation Period. Otherwise, accounts earn Standard Rate of 3.00% APY. LevelUp Rate applies for first two statement cycles. Rates variable & subject to change at any time. See terms: https://www.lendingclub.com/legal/deposits/levelup-savings-t-and-cs
Min. To Earn APY
N/A
Competitive APY
No fees
Easy ATM access
Unlimited number of external transfers (up to daily transaction limits)
Requires you to make monthly deposits to earn the best APY
ACH outbound transfers limited to $10,000 per day for some accounts
No branch access; online only
The LendingClub LevelUp Savings account has a lot to offer. At the top of the list is its high APY, though you must deposit monthly to earn the best rate. Next is zero account fees, a strong and straightforward perk. Finally, you get a free ATM card, which you can use to withdraw from thousands of ATMs nationwide. Interested? You can open an account with $0.
Why I like it: This account has one of the highest APYs on the page, provided you can meet the $250 monthly deposit requirement. It's easy to open, easy to use, and there are no monthly fees.
What you should know: LendingClub gives you a debit card connected to your savings account, which is quite rare. Also, it covers ATM fees! Outbound transfers are unlimited, but daily limits may apply depending on your banking status. This is a non-issue for most people, but something to note nonetheless.
First-hand review from one of our employees who uses LendingClub LevelUp Savings personally:
"I've had a LendingClub HYSA for three years. They do a great job of assuring me my money is safe despite being an online-only bank. Good communication about my APY, an easy-to-use app, and an ATM card that gives me the option to withdraw if I ever need to. Plus, I've been really pleased with the above-average APY."
-Brooklyn Sprunger, Content Manager
Best for no minimum deposit: EverBank Performance℠ Savings
4.70/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
4.70/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
EverBank Performance℠ Savings has one of the top APYs on our savings account radar, especially among accounts that require no minimum deposit. There are no maintenance fees, and there are multiple options for making deposits into the account. For customers who live in Florida, there are several physical locations to visit.
EverBank Performance℠ Savings is unavailable on Motley Fool Money. All information was collected independently and not reviewed for accuracy or provided by the issuer. Some items may be out of date.
Why I like it: EverBank may not be a household name (unless you live in Florida, where it has some branch locations) but it offers one of the highest APYs available right now. This is a no-frills, high-yield account that's built for savers who want to maximize interest above all else.
What you should know: There's no minimum deposit or monthly contribution needed to earn the top APY. Even though EverBank may not be a household name, it's FDIC insured and a trustworthy place to store and grow your money.
How to open a high-yield savings account
Opening an account is fast, easy, and can usually be done entirely online. Most applications take less than 10 minutes.
What you'll need to apply:
Government-issued ID (like a driver's license or passport)
Social Security number
Current address
External bank account details (to fund your new account)
If you're opening a joint savings account, both people will need to provide this info.
Pro tip: Many banks offer a welcome bonus or top APY only when you set up direct deposit -- so that's worth doing immediately after sign-up. Just take note of your new account number and bank routing details and provide it when needed for direct deposit.
What to know about savings accounts
A savings account is one of the simplest banking tools out there. The bank holds your money, pays you interest on it, and keeps it FDIC insured.
The interest you earn is expressed as an APY (annual percentage yield). The higher the APY, the more your money grows without you doing anything.
Most traditional savings accounts pay next to nothing. High-yield savings accounts (typically offered by online banks) pay significantly more, often as much as 10x the national average savings APY, with the same level of safety and access.
Pros and cons of savings accounts
A high-yield savings account is a low-maintenance way to grow your money -- but it's not perfect for every situation. Here's the quick breakdown of pros and cons for savings accounts you should know about:
Pros:
Your money earns interest every month, automatically
No investment risk -- your balance doesn't go down
FDIC insured up to $250,000 per depositor
Most HYSAs have no monthly fees or minimums
Cons:
Rates are variable -- they can drop without notice
No ATM or debit card access at most online banks
Not ideal for long-term wealth building vs. investing
Most transfers are processed as ACH, which can take one to three days to clear.
Are high-yield savings accounts safe?
Yes. As long as the bank is FDIC insured, your money is protected up to $250,000 per account -- even if the bank fails. Every account on this page is FDIC insured.
Online banks are just as safe as traditional banks in this regard. They follow the same federal regulations and security standards.
If you have more than $250,000 to deposit, some banks on this list offer expanded coverage through program banks. SoFi®, for example, offers up to $3 million in FDIC coverage through its insured deposit program.
Compare types of savings accounts
As you compare savings accounts, think about what you'll use the account for.
Do you want to be able to withdraw your money at any time to cover unexpected expenses?
Are you saving up for a major goal over several years, and could use every dollar of interest you can earn?
Here's a look at the common types of savings accounts you'll run into.
Traditional savings account: These accounts are usually easy to open and easy to access. But APYs tend to be pretty low, and most of these accounts carry maintenance fees if your balance falls below a certain amount.
High-yield savings account: These are similar to traditional savings accounts, but they offer much higher APYs and most don't have monthly maintenance fees.
Money market account:Money market accounts offer the APYs of a savings account with the easier access of a checking account. However, these accounts usually have higher minimum balance requirements than typical savings accounts.
Certificate of deposit (CD) account:Certificates of deposit (CDs) can sometimes offer higher APYs than even the top high-yield savings accounts. If you're looking for the best APY on a savings account, CDs are definitely worth considering. But you have to agree not to withdraw your funds for the full CD term (which could be months or years).
Specialty savings account: A specialty savings account is a savings account that's geared at a certain group of people or goals. Examples include kids' savings accounts, health saving accounts, and education savings accounts.
Yes. Many people keep accounts at multiple banks to separate savings goals or maximize FDIC coverage. There's no maximum number of high-yield savings accounts you can have.
Both pay competitive rates, but money market accounts usually come with more access features like a debit card or check writing. HYSAs tend to be simpler with fewer bells and whistles.
This really depends on your timeline and savings goals. An HYSA keeps your money accessible and pays a variable APY that can change over time. A CD locks up your money, but pays a fixed APY that guarantees your returns.
Most ACH transfers take one to three business days. Some banks offer same-day or next-day transfers, but it's not universal -- so an HYSA isn't ideal for money you might need instantly.
Most financial planners recommend keeping three to six months of living expenses in an easily accessible account -- an HYSA is a natural fit for that. Beyond your emergency fund, it's also a solid home for any money you're saving for a goal within the next one to three years, like a home down payment, renovation project, or school tuition.
Share This Page
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. Motley Fool Money does not cover all offers on the market. Motley Fool Money is 100% owned and operated by The Motley Fool. Our knowledgeable team of personal finance editors and analysts are employed by The Motley Fool and held to the same set of publishing standards and editorial integrity while maintaining professional separation from the analysts and editors on other Motley Fool brands.
Terms may apply to offers listed on this page.
APYs are subject to change at any time without notice.
Motley Fool Stock Disclosures
American Express is an advertising partner of Motley Fool Money. HSBC Holdings is an advertising partner of Motley Fool Money. Citigroup is an advertising partner of Motley Fool Money. JPMorgan Chase is an advertising partner of Motley Fool Money. Bank of America is an advertising partner of Motley Fool Money. Ally is an advertising partner of Motley Fool Money. Charles Schwab is an advertising partner of Motley Fool Money. SLM is an advertising partner of Motley Fool Money. Synchrony Financial is an advertising partner of Motley Fool Money. Wells Fargo is an advertising partner of Motley Fool Money. Joel O'Leary has positions in Target. The Motley Fool has positions in and recommends Axos Financial, Goldman Sachs Group, JPMorgan Chase, Target, and U.S. Bancorp. The Motley Fool recommends Barclays Plc, Capital One Financial, Charles Schwab, and HSBC Holdings and recommends the following options: short June 2026 $97.50 calls on Charles Schwab. The Motley Fool has a disclosure policy.
2026 Award Winner
