Best High-Yield Savings Accounts in 2026

The best high yield savings accounts can help your emergency fund and short-term cash earn more interest than a basic savings account. Newtek Bank is the overall editorial pick for a balance of competitive yield, fees and access. EverBank may suit rate-focused savers, while American Express appeals to people who prefer a familiar institution. Marcus emphasizes simplicity and no monthly maintenance fee. SoFi fits consumers who want checking and savings together with qualifying promotional opportunities.

Every savings APY is variable unless the account agreement says otherwise. Rates may change after you open an account, so review the provider’s current terms before applying.

Best High-Yield Savings Accounts: Quick Picks

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High-Yield Savings Account Comparison

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How We Evaluated the Best High-Yield Savings Accounts

The editorial ranking considers overall value, accessibility and usability. It does not assume that these five accounts have the five highest savings account rates in the United States.

The highest advertised APY is not always the best choice. A high rate may require direct deposit, a subscription, new money, a linked checking account, a small balance cap or specific account activity.

Newtek Bank Personal High Yield Savings — Best Overall

Why it stands out

Newtek Bank is the overall editorial recommendation for consumers seeking a balance of competitive yield, fees and account accessibility. The selection is based on the complete account experience rather than the highest temporary rate.

Account details to compare

• Best for: Consumers seeking a broadly useful online high-yield savings account.
• APY: Current variable APY shown in the provider’s dated disclosure.
• Fees: Review the current monthly maintenance fee and other service charges.
• Minimums: Confirm the opening deposit and minimum balance required.
• Access: Review online transfers, withdrawal procedures, transfer speed and mobile banking.
• FDIC insurance: Confirm the insured institution and coverage through FDIC BankFind Suite.

Who should choose Newtek

Newtek may fit savers who want a focused deposit account and do not need a branch-based banking relationship. It may also suit consumers comparing fees and rate value rather than chasing a short-term promotion.

Who may want another account

Consumers who need extensive ATM access, an integrated checking account or in-person service should compare those features before opening.

EverBank Performance Savings — Best for High APY

Why rate-focused savers consider it

EverBank Performance Savings is designed for consumers who place significant weight on the current savings rate. The APY is variable, and the account’s current requirements, tiers and balance rules should be read before an application.

• Best for: Savers focused on a competitive current APY.
• APY: Use the current dated provider disclosure.
• Requirements: Confirm whether all balances receive the same rate and whether tiers or minimums apply.
• Fees: Review the monthly fee and possible service charges.
• Access: Check transfers, withdrawals, mobile banking and customer support.
• FDIC insurance: Confirm the insured bank and coverage limits.

EverBank may be less suitable for a reader who values a simple rate with few conditions but has not reviewed the account’s current terms. The best savings account rates can change, so compare the normal APY with any promotional rate.

American Express High Yield Savings — Best Big-Name Option

Why consumers may prefer it

American Express may appeal to consumers who value brand recognition, straightforward savings pricing and a familiar customer-service experience. A credit card relationship should not be assumed to be required unless the current application terms say so.

• Best for: Consumers who want a recognizable institution and a focused savings product.
• APY: Current variable APY from the dated account disclosure.
• Fees: Confirm the monthly maintenance fee and other charges.
• Access: Review transfers, mobile banking and the availability of debit or ATM access.
• Customer support: Check current service hours and contact methods.
• FDIC insurance: Confirm the insured institution and coverage.

The main tradeoff may be limited branch access and no debit or ATM card for the savings account, where applicable. Its rate may also trail smaller online banks at times.

Marcus by Goldman Sachs — Best for Simplicity

Why it may fit straightforward savers

Marcus may suit consumers who want a focused online savings account without branch visits. It can work well for an emergency fund or separate cash reserve when checking and ATM features are not essential.

• Best for: Consumers who value a simple online savings experience.
• APY: Current variable APY from the provider’s dated disclosure.
• Fees: Review current monthly fees and service charges.
• Minimums: Confirm the opening deposit and minimum balance.
• Transfers: Review linked-account transfers, timing and limits.
• FDIC insurance: Confirm coverage through the official bank information.

Marcus may not fit someone who wants a checking account, debit card, ATM access or a full branch relationship. Smaller online banks may also offer a higher current rate at times.

SoFi Checking and Savings — Best Banking Combo

Combined account structure

SoFi Checking and Savings is a combined checking-and-savings offering rather than a standalone traditional savings account. It may appeal to consumers who want one banking app for spending, saving, direct deposit and savings vaults.

• Normal APY: Confirm the base savings APY in the current disclosure.
• Qualifying APY: Check whether direct deposit or another qualifying condition is required.
• SoFi Plus: Review whether membership affects the rate or benefits.
• Checking features: Compare the debit card, ATM network, transfers and mobile banking.
• Promotions: Treat cash bonuses and APY boosts as temporary offers with separate dates and rules.
• FDIC insurance: Confirm the relevant insured bank structure and coverage.

SoFi can be useful for consumers who value an integrated account ecosystem. It may be less suitable for someone who wants a standalone savings account with no qualifying activity.

Newtek vs EverBank vs American Express vs Marcus vs SoFi

The main purchasing difference is account design. Newtek and EverBank are useful starting points for rate and value comparisons. American Express and Marcus may appeal to readers who prefer a simpler, focused savings relationship. SoFi is different because it combines checking and savings and may attach higher rates or promotions to qualifying activity.

What Is a High-Yield Savings Account?

A high-yield savings account is an interest-bearing deposit account that may pay more than a basic savings account. The bank credits interest based on the account balance and the stated annual percentage yield.

How APY works on a savings account

Annual percentage yield reflects the amount an account could earn in one year when compounding is included. A variable APY can change, and interest may compound daily while being credited monthly, depending on the account agreement.

For example, $10,000 at 4.00% APY could earn approximately $400 over one year if the APY remained unchanged and no withdrawals occurred. This is an illustrative example, not a guaranteed return.

APY versus interest rate

The interest rate is the stated rate used to calculate interest. APY also reflects compounding, which makes it more useful for comparing deposit accounts.

Online banks often pay more because their operating costs and deposit strategies differ from those of branch-heavy banks. However, not every online bank pays a higher rate, and banks credit unions may set different terms.

How Much Can You Earn With a High-Yield Savings Account?

The examples below use a hypothetical 4.00% APY for one year. They assume the balance stays unchanged and the rate does not move. Actual savings account interest rates and earnings may differ.

Are High-Yield Savings Accounts Safe?

A high-yield savings account at an FDIC-insured bank is generally protected up to the standard $250,000 limit per depositor, per insured bank, per ownership category. Coverage rules can differ for joint accounts, trusts and accounts held across multiple ownership categories.

Use the FDIC BankFind Suite to confirm whether the institution holding your deposit is insured. If a fintech provides the application, identify the banking partner and review how pass-through coverage is described. A fintech brand is not automatically a bank.

FDIC insurance protects eligible deposits if an insured bank fails. It does not guarantee a particular APY, prevent rate changes or protect against every type of loss.

High-Yield Savings Account Alternatives

High-Yield Savings Account vs Traditional Savings Account

High-Yield Savings Account vs Money Market Account

Money market accounts may offer check-writing or debit-card access, but they can have different minimums and withdrawal rules. Compare the APY, minimum balance, access features and fees. See best money market accounts for a future comparison.

High-Yield Savings Account vs CD

A high-yield savings account usually has a variable rate and liquid funds. A CD generally has a fixed term and may charge an early withdrawal penalty. A CD may suit money with a known time horizon, while savings may suit an emergency fund. Compare best CD rates before choosing.

High-Yield Savings Account vs Checking

Checking accounts are designed for frequent transactions, while savings accounts are built for cash reserves and savings goals. SoFi combines checking and savings functionality for consumers who want both in one banking app.

Emergency Funds, Fees and Changing Savings Rates

Are High-Yield Savings Accounts Good for Emergency Funds?

They may work well because they combine liquidity, potential interest earnings, FDIC insurance and separation from everyday checking. Before choosing one, review transfer speed, ATM access, withdrawal policies and customer support.

A HYSA is not the only possible place for emergency savings. Your needs, access preferences and cash-flow situation should guide the decision.

Fees to watch

• Monthly maintenance fee
• Minimum balance fee
• Wire transfer fee
• ATM fee
• Paper statement fee
• Excessive withdrawal or transfer restrictions

Why the highest advertised APY may not be your rate

Check for balance tiers, direct deposit, subscription or membership conditions, new-money rules, linked checking requirements, balance caps, activity requirements and promotional expiration dates.

Why high-yield savings rates change

Banks adjust variable savings APYs partly in response to Federal Reserve policy, competitive conditions, funding needs and market interest rates. Savings rates do not move one-for-one with the federal funds rate.

As of September 2026, widely available leading products can offer APYs around 4%, while the national average is significantly lower. The exact rate context should be dated against current Federal Reserve and provider data.

How to Choose, Open and Use a High-Yield Savings Account

Use this selection framework

Choose Newtek if

You want a balanced overall option and are comfortable with online banking.

Choose EverBank if

You are focused on the current APY and will review rate requirements.

Choose American Express if

You value a recognizable provider and straightforward savings use.

Choose Marcus if

You want simplicity and do not need checking or branch access.

Choose SoFi if

You want checking, savings vaults and banking tools in one app.

How to open an account

A provider may request a Social Security number, government-issued ID, address, date of birth and funding account. Banks may request different information, so follow the application instructions for the account you select.

Is savings interest taxable?

Savings interest is generally taxable income for U.S. federal tax purposes. A bank may issue Form 1099-INT when applicable. Consult a qualified tax professional about your situation.

Review common account questions

CTA Strategy for This Savings Comparison

The SERP pattern favors useful CTAs that continue the comparison journey. Product-specific buttons work best after readers understand the account’s strengths and limitations. Early CTAs should be broad, while later CTAs should match a clear use case.

Choose the Account That Fits Your Savings Goal

The best high yield savings accounts are not identical, and the highest rate is not automatically the best account. Compare the current variable APY, fees, minimums, balance caps, access, customer support and FDIC insurance before applying.

Newtek is the overall recommendation, EverBank is suited to rate-focused savers, American Express emphasizes familiarity, Marcus favors simplicity and SoFi combines checking with savings. Review current terms, then choose the account that makes your emergency fund or cash savings easy to manage.