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Get the full rundown on bank accounts, including the best picks for your money and essential education on checking, savings, and CD accounts.
A bank is an institution where anyone (approved by the bank) can deposit savings and take out loans. Banks are often seen as a convenient and secure way to store money, and some account types also earn interest. Most banks have both online and in-person services.
An online bank is a financial institution that takes deposits and makes loans online, without any physical branches.
A credit union is a nonprofit financial institution that exists to serve its members. Unlike banks, credit unions are owned and operated by their members, with a focus on providing affordable financial products and services.
Make sure you're getting the best account for you by comparing savings rates and promotions. Here are some of our favorite high-yield savings accounts to consider.
| 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 EverBank Bank High-Yield Savings Account from Raisin
On Raisin's Secure Website. |
4.15%
Rate info
Earn a guaranteed 4.15% APY for 90 days. After that, your savings keep growing at a competitive standard rate -- currently 3.95% APY (subject to change). No minimum account balance required. Deposit or withdraw at any time with no additional fees.
Min. to earn: $1
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Earn up to $1,200 when you sign up and fund your account using code SUMMER26.¹
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Open Account for EverBank Bank High-Yield Savings Account from Raisin
On Raisin'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
|
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. |
¹New customers only. Earn a cash bonus (the "Base Bonus") when you deposit and maintain funds with partner banks on the Raisin platform. Customers will receive a Base Bonus of $50 for depositing between $10,000 and $24,999; $125 for depositing between $25,000 and $49,999; $250 for depositing between $50,000 and $99,999; $500 for depositing between $100,000 and $199,999; and $1,000 for depositing $200,000 or more.
Customers may earn an additional bonus by setting up a recurring deposit within 14 days of their initial deposit (the “Recurring Deposit Bonus”). To qualify, the recurring deposit must be established within 14 days of the initial deposit date and it must execute at least two (2) times within 90-days of the initial deposit. Recurring Deposit Bonus eligibility is determined by your Base Bonus tier:
Customers are eligible to earn the Recurring Deposit Bonus associated with their Base Bonus tier or any lower Recurring Deposit Bonus tier. For example, a customer with an initial deposit of $200,000 (qualifying for the highest Base Bonus tier) whose aggregate recurring deposits total $500, is eligible for the lower tier and will receive the $50 Recurring Deposit Bonus. However, setting up a recurring deposit greater than your Base Bonus tier's required threshold will not qualify you for a higher Recurring Deposit Bonus.
The Recurring Deposit Bonus is paid in addition to the Base Bonus. To qualify for the Base Bonus and Recurring Deposit Bonus, your first deposit must be initiated between June 1, 2026, and August 31, 2026, by 11:59 PM ET, and the promo code SUMMER26 must be entered at the time of sign-up. Only funds deposited within 14 days of the initial deposit date and maintained with partner banks on the Raisin platform for 90 days will be eligible for the Base Bonus. Bonus cash will be credited directly to your Cash Account within 30 days of meeting all qualifying terms. This offer is available to new customers only and may not be combined with any other bonus offers. Raisin may modify or end this offer at any time and may withhold or revoke bonuses in cases of fraud, abuse, or violation of these terms or Raisin’s Terms of Service.
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 August 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.
Motley Fool Stock Disclosures
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