Best High-Yield Savings Accounts Today, August 7, 2026: Earn up to 4.50% APY
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Back-to-school time is here. Everything's hectic. Everything costs more. Everything requires your attention except, conveniently, opening a better savings account.
That takes just 10 minutes and zero ongoing maintenance.
Your money works for you automatically once it's in the right place.
High-yield savings accounts (HYSAs) do the hard work while you handle everything else. Make the move today.
Our Picks for the Best High-Yield Savings Accounts of 2026
| Account | APY | Bonus | Next Steps |
|---|---|---|---|
Open Account for SoFi Checking and Savings
On SoFi's Secure Website. 
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 3.80%
Rate info
Earn up to 3.80% Annual Percentage Yield (APY) on one SoFi Savings account with a 0.70% APY Boost (added to the 3.10% APY as of 5/28/26) 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: $0
|
Earn $50 or $400 and +0.70% Boost on Savings APY with direct deposit. Terms apply.
Earn up to 3.80% Annual Percentage Yield (APY) on one SoFi Savings account with a 0.70% APY Boost (added to the 3.10% APY as of 5/28/26) 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. |
Open Account for SoFi Checking and Savings
On SoFi's Secure Website. |
Open Account for Happen Bank LevelUp Savings
On Happen Bank's Secure Website.
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 to first two statement cycles. Rates variable & subject to change at any time. See terms: https://www.happen.com/legal/deposits/levelup-savings-t-and-cs
Min. to earn:
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N/A
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Open Account for Happen Bank LevelUp Savings
On Happen Bank's Secure Website. |
Open Account for CIT Platinum Savings
On CIT's Secure Website.
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 |
up to 4.10%*
Rate info
4.10%* APY for balances of $5,000 or more; otherwise, 0.60%* APY
Min. to earn: $5,000
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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. |
Open Account for CIT Platinum Savings
On CIT's Secure Website. |
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 July 1, 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 October 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.
The promotion can end at any time without notice.
CIT General Disclosure
For complete list of account details and fees, see our Personal Account disclosures.
Best high-yield savings rates today, August 7, 2026
| Bank Account | APY | Requirements |
|---|---|---|
| Go2bank | up to 4.50% | On savings vault balances up to $5,000 when your checking account is active and in good standing. |
| Elevault | 4.34% | No min. balance. |
| Axos ONE® | up to 4.21% | Receive at least $1,500 in total monthly qualifying direct deposits and maintain an average daily balance of at least $1,500 |
| Newtek Personal High Yield Savings | 4.20% | $100 min. deposit required to open. No min. balance requirement. |
| NexBank High-Yield Savings Account from Raisin | 4.15% | Rate guaranteed for 90 days from funds posting. $1 min. deposit. Eligibility rules apply. |
| Pibank Savings | 4.10% | No min. balance |
Featured HYSA:
Right now, with the CIT Platinum Savings account, earn up to 4.10%* APY for a limited time with a savings balance of $5,000 or greater. Just use code CITBOOST at sign-up. Growing your savings balance has never been easier. Check out our full review to learn more, or click below to open an account now.
On CIT's Secure Website.
Member FDIC.
CIT Platinum Savings
On CIT's Secure Website.
= Best
= Excellent
= Good
= Fair
= Poor
= Best
= Excellent
= Good
= Fair
= PoorOn CIT's Secure Website.
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.
- 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 July 1, 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 October 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.
The promotion can end at any time without notice.
CIT General Disclosure
For complete list of account details and fees, see our Personal Account disclosures.
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.
Where will rates move next?
After a cycle of Fed hikes that pushed savings rates to their highest levels in years, followed by three cuts in 2025, the market has stabilized. The first five Fed decisions of 2026 have been holds. As a result, top high-yield savings accounts are still offering up to 4.50% APY.
Whether that stability lasts is genuinely uncertain. Inflation data, labor market shifts, and global economic pressure all factor into the Fed's future decisions. What's clear is that the present environment -- with rates held steady and competition among online banks keeping APYs elevated -- is more favorable for savers than it's been in years.
The accounts listed here offer FDIC insurance up to $250,000, no lock-in period, and full access to your funds. That's the rare combination of safety, liquidity, and above-average return. It won't always look like this, which makes acting now more valuable than waiting to see what happens next.
Here's how to open an HYSA
If you haven't opened an online savings account before, here's exactly what to expect:
- Choose an account. Look at APY first, but also confirm there are no monthly fees and check any minimum balance requirements. The best accounts for most savers combine a competitive rate with a low or no minimum.
- Submit your application online. The process is entirely digital -- no paperwork, no branch visit. You'll provide your name, mailing address, date of birth, and Social Security number. Approval usually comes within a few minutes.
- Make your initial deposit. Connect your current bank account via routing and account number, then transfer funds. The money typically arrives in one to three business days, and interest starts accruing right away.
Many banks also let you set up automatic transfers on a schedule, which makes it easy to grow your balance consistently over time without having to think about it.
Compound interest works quietly in the background
The difference between the national average 0.38% savings rate and a 4.00% APY may look modest in any single month. Over years, it becomes significant. Here's the math, assuming no additional contributions:
| Starting Balance | After 1 Year | After 5 Years | After 10 Years | After 20 Years |
|---|---|---|---|---|
| $1,000 | $1,040 | $1,217 | $1,480 | $2,191 |
| $5,000 | $5,204 | $6,105 | $7,454 | $11,113 |
| $10,000 | $10,407 | $12,210 | $14,908 | $22,226 |
| $20,000 | $20,815 | $24,420 | $29,817 | $44,452 |
Compare that to the same balance earning the national average of 0.38%, and the difference in long-term growth is substantial. The best accounts today can deliver more than 10x the interest of a typical bank savings account -- with zero additional risk to your principal.
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FAQs
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You can. Most HYSAs allow unlimited transfers into the account, but withdrawals are sometimes capped at around six per month. Check the terms of your account for specifics.
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Focus on three things: a top-tier APY, no monthly fees, and easy access to your cash. Beyond that, it can help to choose a bank that also offers checking -- it keeps transfers fast and simple.
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Yes. Deposits at FDIC-insured banks (and NCUA-insured credit unions) are protected up to $250,000 per person, per institution.
Our Research Expert
Ryan Wilcox is a full-time Personal Finance Writer at Motley Fool Money, covering credit cards, bank accounts, investing, auto insurance, and other personal finance topics. Ryan has been writing about credit cards and savings since 2022. Before joining Motley Fool Money, he was a full-time writer at The Points Guy, where he focused on maximizing credit card rewards and travel strategies. He holds a bachelor’s degree in English and American History from the University of North Carolina at Chapel Hill, where he also spent four years reporting for The Daily Tar Heel. With a background in both journalism and consumer finance, he brings a clear and thoughtful voice to money topics. Outside of work, Ryan is likely reading, writing, or updating his Letterboxd account.
Motley Fool Stock Disclosures
The Motley Fool has positions in and recommends Axos Financial. The Motley Fool has a disclosure policy.