Top High-Yield Savings Accounts Offering up to 5.00% APY Today, Oct. 6, 2026
Image source: Getty Images
The rate momentum from September's Fed hike continues rolling. Banks are still making moves.
Your emergency fund could be earning as high as 5.00% APY, depending on which account you choose. That's tens of dollars per month on modest balances.
Procrastination costs money. Action pays it.
High-yield savings accounts (HYSAs) are ready. Switch today and stop leaving earnings on the table.
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 4.20%
Rate info
Earn up to 4.20% Annual Percentage Yield (APY) on one SoFi Savings account with a 0.90% APY Boost (added to the 3.30% APY as of 9/23/26) 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#4. SoFi Bank, N.A. Member FDIC.
Min. to earn: $0
|
Earn $50 or $400 and +0.90% Boost on Savings APY with direct deposit. Terms apply.
Earn up to 4.20% Annual Percentage Yield (APY) on one SoFi Savings account with a 0.90% APY Boost (added to the 3.30% APY as of 9/23/26) 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#4. SoFi Bank, N.A. Member FDIC. |
Open Account for SoFi Checking and Savings
On SoFi's Secure Website. |
Open Account for Barclays Tiered Savings
On Barclays' 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 |
3.50%
Rate info
Balances less than $250,000 earn 3.50%, and balances greater than $250,000 earn 3.65%.
Min. to earn: $0
|
$200 Bonus with qualifying activities. Terms Apply
To earn a $200 bonus, new customers can open a savings account; deposit $25,000 or more within 30 days; and maintain at least that balance for 120 consecutive days. The bonus will be credited to your account within 60 days of meeting these requirements. Offer ends Oct. 31, 2026. Terms apply. |
Open Account for Barclays Tiered Savings
On Barclays' 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 |
4.20% APY with $250+ in monthly deposits
Rate info
*LevelUp Rate of 4.20% 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:
|
N/A
|
Open Account for Happen Bank LevelUp Savings
On Happen Bank's Secure Website. |
Best high-yield savings rates today, Oct. 6, 2026
| Bank Account | Annual Percentage Yield (APY) | Requirements |
|---|---|---|
| Axos ONE® | up to 5.00% | New customers can earn up to 5.00% APY for their first 6 months. Terms apply. |
| 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. |
| NexBank High-Yield Savings Account from Raisin | 4.25% | Rate guaranteed for 60 days from funds posting. $1 min. deposit. Eligibility rules apply. |
| E*TRADE Premium Savings | 4.25% | Rate guaranteed for 6 months, plus earn up to $800 with promo code SAVE800. |
| Pibank Savings | 4.25% | $0 minimum balance to open account or maintain APY. |
Featured HYSA:
Earn 4.20% APY with $250+ in monthly deposits with Happen Bank LevelUp Savings -- more than 11X the national average savings account rate! Plus, pay no monthly fees and get extra perks like a free ATM card.
On Happen Bank's Secure Website.
Member FDIC.
2026 Award Winner
Happen Bank LevelUp Savings
On Happen Bank's Secure Website.
= Best
= Excellent
= Good
= Fair
= Poor
= Best
= Excellent
= Good
= Fair
= PoorOn Happen Bank's Secure Website.
- 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 Happen Bank 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.
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 interest rates stand after the September Fed meeting
The Federal Reserve raised rates last month -- its first increase since mid-2023. This signals positive momentum for savers.
What this means for HYSA rates: Top rates are between 4.25% and 5.00% APY today, but they could continue to inch upward in the coming weeks. Banks typically adjust quickly after Fed decisions, so moving now lets you capture current rates before they rise.
Why this matters: HYSA rates are variable, meaning they shift with Fed moves. The three cuts in 2025 proved how fast changes happen -- the same applies when rates go up. Savers who act now position themselves to benefit from higher rates ahead.
High-yield savings accounts offer FDIC insurance up to $250,000 and full liquidity, making them one of the best places for cash you're not ready to invest.
Open a high-yield savings account in 10 minutes or less
Most people overestimate how long it takes to open an online savings account.
Here's the actual process:
- Compare rates and terms. Look for a high APY with no monthly maintenance fees. Note whether there's a minimum balance requirement to earn the top rate -- some accounts require $1,000 or $5,000, while others have no minimum at all.
- Apply online. You'll need standard identification details: legal name, address, Social Security number, and date of birth. No branch visit required.
- Transfer funds. Link your existing bank account and move money over. Most transfers complete within one to three business days.
Once your account is funded, it earns interest automatically. Many savers also set up a small recurring transfer from checking to keep building their balance over time.
Compound interest can start working for you today
It's one thing to say high-yield accounts pay more. It's another to see what that means for your actual balance. At 4.00% APY, here's how savings grow over time without any additional deposits:
| 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 0.37%, and the difference in long-term growth is substantial. The best accounts today can deliver more than 13X the interest of a typical bank savings account -- with zero additional risk to your principal.
-
Sources
FAQs
-
Most online banks let you open a high-yield savings account in 10-15 minutes from your computer or phone. You'll need basic info like your Social Security number, address, and bank account details for linking transfers. Your account is usually active the same day, though transfers between banks can take a business day or two.
-
No. High-yield savings account rates are variable, meaning banks can change them at any time.
The good news is that rates are most likely to move when the Fed makes changes -- like the rate hike announced last month. The bad news is your rate isn't guaranteed. That's why it's smart to open an account while rates are strong -- and why you shouldn't delay if you're considering making a move.
-
Many online banks that offer high-yield savings accounts have no minimum deposit requirement. You can often open the account with as little as $1. However, some banks do require a minimum balance to open an account or earn the advertised APY, so check the fine print.
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.