Best High-Yield Savings Accounts of 2026

The best high-yield savings account for most people right now is CIT Bank Platinum Savings, as long as you have $5,000 or more to put in. It pays 3.75% APY on balances of $5,000 or more, takes $100 to open and has no monthly service fees. You don't have to move your paycheck to get that rate. APYs are accurate as of July 1, 2026.

Got less than $5,000? Open CIT Bank Savings Connect instead. It pays 3.65% APY, takes $100 to open and has no $5,000 line to clear. Platinum Savings drops to 0.25% APY under $5,000, so for a small balance it isn't close.

One more thing before the list. If you're willing to move your direct deposit, Axos ONE pays 4.21% APY, which is the highest ongoing rate on this page. Miss its monthly requirement and you're down to 1.00% or less, so read that section before you switch anything.

The best high-yield savings accounts compared

Here are all eight side by side. Each rate was read on the bank's own site on October 12, 2026.

CIT Bank APYs are accurate as of July 1, 2026, and the full disclosures sit under each CIT Bank account below. Every rate in the table is variable, so it may change after you open the account.

1. CIT Bank Platinum Savings

This is the top pick because it's the highest rate here with no monthly deposit requirement. You need the balance, and that's it.

Platinum Savings is a tiered account. It pays 3.75% APY on balances of $5,000.00 or more and 0.25% APY on balances of $0.01 to $4,999.99, and interest is paid on your entire balance at whatever tier you end the day in. It takes $100 to open, with no monthly service fees and no account opening fees.

So what does that look like? Keep $10,000 in it for a year at 3.75% APY and you earn about $375. The national average savings rate is 0.37%, which would pay you about $37 on the same money.

There's also a promo running. Open the account with promo code Boost50 and you get 0.50% APY on top of the standard rate for 6 months, which works out to 4.25% APY on $5,000 or more and 0.75% APY under $5,000. The promotion began September 29, 2026 and ends December 15, 2026, and CIT Bank can end it at any time without notice. It's open to new and existing customers who meet the promotion criteria.

The catch is that $5,000 line. Dip under it and the whole balance earns the lower tier that day, so this isn't the account for an emergency fund you're still building.

Open CIT Platinum Savings with Boost50

Bottom line: if you've got $5,000 or more and you want a strong rate with no hoops, start here.

2. CIT Bank Savings Connect

Still building your savings? This is the one to open.

Savings Connect pays 3.65% APY and takes $100 to open. There's no $5,000 line to clear, and there are no monthly service fees or account opening fees.

Put $1,000 in it and you'd earn about $36.50 over a year. The same $1,000 in Platinum Savings would earn about $2.50, because it would sit in the 0.25% tier.

What's the downside? Once you pass $5,000, Platinum Savings pays a little more. And like every account on this page, the rate is variable.

Open CIT Savings Connect

3. Axos ONE

Axos ONE is a checking and savings bundle, and it pays the highest ongoing rate on this page. You just have to work for it.

The savings side pays 4.21% APY on the first $249,999.99 in any statement cycle where you meet the requirement. You can meet it two ways, both through the Axos ONE Checking account: get at least $1,500 a month in qualifying direct deposits and keep an average daily balance of at least $1,500, or get at least $5,000 a month in qualifying deposits and keep a $5,000 average daily balance. The window runs from the first business day of the month through the 25th.

Miss it and the savings account earns a base rate of up to 1.00% APY for that cycle.

New customers who open the bundle from October 1, 2026 through October 31, 2026 can also get a 0.79% APY boost for the first six statement cycles, for a total of 5.00% APY on the first $49,999.99. You still have to meet the monthly requirement, and you don't qualify if you've ever had an Axos Bank or UFB Direct account.

There are no monthly maintenance fees, no minimum balance requirements and no overdraft fees, and you can get paid up to 2 days early. If that last part matters to you, here are more online banks that pay early.

Who's it for? Someone who's fine making Axos their main bank. If your paycheck is staying where it is, skip it and take one of the CIT Bank accounts above.

See Axos ONE at Axos Bank

4. Marcus Online Savings Account

Marcus by Goldman Sachs pays 3.50% APY with no fees and no minimum deposit. No tiers, no direct deposit, no promo code.

That makes it the simplest account on the list. You can open it with whatever you have, and you can move $100,000 or less to or from another bank the same day.

It's a savings account and nothing else, so you'll still need a checking account somewhere. And the rate is a bit under both CIT Bank accounts. But if you don't have $100 to open one of those yet, this is a really good place to start.

See the Marcus Online Savings Account

5. SoFi Checking and Savings

SoFi is another checking and savings combo, and its rate depends on how you use it.

With direct deposit, the savings account pays 3.30% APY. There's no minimum direct deposit amount. No direct deposit? You can also qualify by bringing in $5,000 in deposits every 31 days. Without either one, you earn 0.80% APY.

New members can earn up to 4.20% APY for up to six months if they open their first account between September 3, 2026 and December 31, 2026 and keep up the direct deposit or the $5,000 in deposits.

SoFi doesn't charge account, service or maintenance fees, and there's no minimum balance. It makes sense if you want your checking and savings in one app. If you only want a place to park cash, 0.80% isn't it.

See SoFi Checking and Savings

6. Quontic High Yield Savings

Quontic pays 3.20% APY on its High Yield Savings account. You need $100 to open it, and there are no monthly service fees.

Interest compounds daily, and you can ask for an ATM card. So if you want to be able to pull cash straight from savings, that's a real plus.

The rate is lower than the first four accounts here, and that's the trade.

Open Quontic High Yield Savings

7. Capital One 360 Performance Savings

Want a big bank you can walk into? Capital One pays 3.10% APY on 360 Performance Savings, with no fees to open or keep the account and no minimum balance.

You earn the same rate on every dollar, and you can open it online or at a Capital One location. One thing to know: you can't withdraw from this account at an ATM. You'd move the money to checking first.

Its top rate is the lowest on this page, so pick it for the branches and skip it if yield is all you care about.

See Capital One 360 Performance Savings

8. Current Savings Pods

Current is the odd one out. It's a financial technology company, not a bank, and its savings feature is built for small balances.

You can earn a 4.00% bonus rate on up to $2,000 in each Savings Pod, up to $6,000 total. To get it, you need at least one payroll deposit of $200 or more every 35 days. Without that, the rate is 0.25%, and anything over the cap earns 0.00%.

Max it out and $6,000 at 4.00% is about $240 a year. Not bad, right? But that's the ceiling, which is why it sits at the bottom of this list.

Your money is held at Choice Financial Group or Cross River Bank, both Members FDIC, and the FDIC coverage passes through to you only if certain conditions are met.

Get the Current app

How high-yield savings accounts work

A high-yield savings account is a regular savings account that pays a lot more interest. That's really the whole idea.

The national average savings rate is 0.37%. The accounts on this page pay 3.10% to 4.21% APY before any promo. On $10,000, that's the difference between about $37 a year and $310 or more.

APY stands for annual percentage yield. It's what you'd earn over a full year with compounding counted in, which makes it the number to compare.

The account won't do the saving for you, though. If you need help finding the money to put in it, start with these guides on how to save money, smart ways to save money fast and how to save $1,000 a month.

What moves your rate

Every rate on this page is variable. The bank can raise it or cut it at any time, and it doesn't have to warn you first.

Your own balance and habits can move it too. CIT Bank Platinum Savings pays a different rate above and below $5,000. Axos ONE, SoFi and Current pay their top rate only when the right deposits show up.

And promo rates end. The Boost50, Axos and SoFi boosts each run about six months, so look at the standard rate before you pick an account. You'll be earning that for a lot longer.

Is your money insured?

At a bank that's a Member FDIC, your deposits are insured up to $250,000 per depositor, for each account ownership category. CIT Bank, Axos Bank, Marcus, SoFi, Quontic and Capital One are all FDIC members.

Have more than that? Axos and SoFi each run a program that spreads your money across other banks, for up to $2.5 million of additional coverage at Axos and up to $3 million at SoFi.

Current is different because it isn't a bank. It places your money with partner banks, and the insurance only applies if certain conditions are met.

How to open a high-yield savings account

It's pretty easy, and you can do it from your phone. CIT Bank says its application takes about 5 minutes.

1. Pick the account that fits your balance and whether you want to move your direct deposit.
2. Fill out the application. Expect to give your address, phone number, email and Social Security number or ITIN.
3. Fund it. Most people link their checking account and transfer the money over. CIT Bank also takes a mailed check or a wire.
4. Set up an automatic transfer so the balance keeps growing.

Don't have a Social Security number? Here's how to open a U.S. bank account without an SSN.

Savings account or CD?

A savings account lets you take your money out whenever you want, but the rate can change. A CD locks in a rate for a set term, and a penalty may apply if you pull the money out early.

So keep your emergency fund in savings. A CD is for money you already know you won't touch until the term is up.

You can see current CD rates on the CIT Bank offers page.

How we picked

We read each bank's own product page and rate sheet on October 12, 2026 and wrote down the APY, the minimum to open, the monthly cost and any conditions tied to the rate.

Then we ranked the accounts by the rate you keep after any promo ends. Accounts that pay their rate with no monthly deposit requirement rank ahead of accounts that have one, with one exception: Axos ONE is third because its rate is the highest here when you meet the requirement. Current is last because of its $6,000 cap.

High-yield savings account FAQ

What is a good APY for a high-yield savings account?

Right now, anything over 3% is solid. The accounts on this page pay 3.10% to 4.21% APY, and the national average savings rate is 0.37%.

Can the rate on a high-yield savings account go down?

Yes. These are variable rates, so the bank can change them at any time. If you need a rate that can't drop, that's what a CD is for.

How much do you need to open one?

Not much. Marcus and Capital One have no minimum, and CIT Bank and Quontic ask for $100.

Which account is best if you have less than $5,000?

CIT Bank Savings Connect. It pays 3.65% APY, and you only need $100 to open it.

Do you need direct deposit to get a high rate?

No. Both CIT Bank accounts, Marcus, Quontic and Capital One pay their full rate without it. Axos ONE, SoFi and Current are the ones that need deposits coming in.