If you want your savings to earn more interest without putting the money directly into the stock market, a high-yield savings account (HYSA) can be worth considering.
High-yield savings accounts generally pay considerably more than traditional savings accounts. As of September 2026, competitive accounts are offering around 4% APY, while the national average savings rate is much lower. NerdWallet reports that the national average is currently 0.38% APY, while some competitive HYSAs are offering more than 4%.
This guide covers 10 high-yield savings accounts in the USA to research in 2026, including options with competitive APYs, no monthly fees, low minimum deposits, and different account features.
Financial Disclaimer: This article is for general informational and educational purposes only. It is not financial, investment, tax, legal, or banking advice. APYs, fees, eligibility requirements, balance limits and other terms can change. Always verify current terms directly with the financial institution before opening an account.
10 Best High-Yield Savings Accounts in the USA
| High-Yield Savings Account | APY* | What It May Be Useful For |
|---|---|---|
| Newtek Bank Personal High Yield Savings | 4.20% | Competitive overall rate |
| Axos Bank | Up to 4.21% | High APY with qualifying requirements |
| Climate First Bank | 4.01% | Competitive rate with relatively low requirements |
| Peak Bank Envision High-Yield Savings | 4.01% | High APY and mobile banking |
| CIT Bank Platinum Savings | Up to 4.10% | Larger-balance savings |
| Happen Bank LevelUp Savings | Up to 4.00% | APY boost opportunities |
| SoFi Checking and Savings | Up to 4.00% | Checking + savings combination |
| E*TRADE Premium Savings | 4.00% promotional APY | Savers who also invest |
| EverBank Performance Savings | 3.90% | Competitive savings rate |
| Western Alliance Bank High-Yield Savings | 3.80% | Online high-yield savings |
*APYs shown are based on current September 2026 published comparisons and may have requirements, promotional periods, balance limits, or other conditions. Rates can change.
1. Newtek Bank Personal High Yield Savings
Newtek Bank’s Personal High Yield Savings account is one of the accounts currently highlighted in 2026 high-yield savings comparisons.
NerdWallet currently reports a 4.20% APY and no monthly fee for the account.
Potential benefits
- Competitive APY
- No monthly fee
- Online account management
- Suitable for emergency savings and short-term goals
What to check
Before opening the account, verify the current APY, account requirements, transfer rules and FDIC insurance status.
2. Axos Bank High-Yield Savings
Axos Bank currently has one of the highest rates among the accounts tracked by NerdWallet.
As of September 16, 2026, NerdWallet reports an APY of up to 4.21%, but the highest rate requires qualifying conditions involving a linked checking account and specified deposits or balances.
Potential benefits
- Competitive headline APY
- Online banking
- Checking and savings integration
- Potentially attractive for customers who can meet the requirements
What to check
The highest APY is not automatically available to every customer, so carefully review the qualifying requirements.
3. Climate First Bank Savings
Climate First Bank is another account appearing among competitive high-yield savings options.
NerdWallet reports an APY of 4.01% with a $50 minimum opening deposit as of September 2026.
Potential benefits
- Competitive APY
- Relatively low opening requirement
- Online savings option
- Mission-focused banking model
What to check
Verify the current APY, minimum balance requirements and other account terms before applying.
4. Peak Bank Envision High-Yield Savings
Peak Bank’s Envision High-Yield Savings account is another option for savers comparing competitive APYs.
NerdWallet currently lists the account at 4.01% APY with a $100 opening deposit.
Potential benefits
- Competitive interest rate
- Online account management
- Mobile banking features
What to check
Review the current APY, fees, minimum balance and withdrawal/transfer policies.
5. CIT Bank Platinum Savings
CIT Bank offers several savings products, including its Platinum Savings account.
NerdWallet currently reports an APY of up to 4.10%, depending on the account requirements.
Potential benefits
- Competitive rate
- Online banking
- Multiple savings products
- Potentially useful for larger balances
What to check
Pay attention to any minimum balance requirement needed to receive the advertised APY.
6. Happen Bank LevelUp Savings
Happen Bank’s LevelUp Savings account is included among current high-yield savings options.
NerdWallet currently reports an APY of up to 4.00%.
Potential benefits
- Competitive APY
- Potential rate-boosting features
- Online savings management
What to check
Understand exactly how the LevelUp requirements work and whether the highest APY applies to your balance.
7. SoFi Checking and Savings
SoFi combines checking and savings features in one account.
Current September 2026 comparisons report an APY of up to 4.00%, depending on eligibility and applicable requirements.
Potential benefits
- Checking and savings in one account
- Mobile banking
- Direct-deposit features
- Potential cash bonuses for eligible customers
What to check
The highest APY and promotional offers may depend on qualifying requirements. Review the current terms before opening an account.
8. E*TRADE Premium Savings
E*TRADE Premium Savings may be particularly relevant to people who already use an investment account.
NerdWallet currently lists a 4.00% APY promotional rate for six months.
Potential benefits
- Savings and investing ecosystem
- Online account management
- Competitive promotional rate
What to check
Promotional rates have conditions and expiration periods. Determine what APY applies after the promotional period.
9. EverBank Performance Savings
EverBank Performance Savings is another online savings option currently included in high-yield account comparisons.
NerdWallet reports a 3.90% APY as of September 2026.
Potential benefits
- Competitive savings rate
- Online account management
- No need for a traditional branch relationship
What to check
Review the current rate, minimum deposit, balance requirements and fees.
10. Western Alliance Bank High-Yield Savings
Western Alliance Bank’s High-Yield Savings account is also included in current 2026 comparisons.
NerdWallet currently reports a 3.80% APY.
Potential benefits
- Competitive rate
- Online savings
- Suitable for savers comparing multiple institutions
What to check
Confirm current APY, fees, minimum deposit requirements and insurance coverage before opening an account.
What Is a High-Yield Savings Account?
A high-yield savings account is a savings account that generally pays a higher APY than a traditional savings account.
For example, suppose you keep $10,000 in an account earning a hypothetical 4.00% APY.
If the APY stayed unchanged for a full year, you could earn approximately $400 in interest.
At a hypothetical 0.38% APY, the same $10,000 would earn approximately $38.
The actual amount will vary because savings rates can change and interest calculations depend on the account’s terms.
How Much Can You Earn With a 4% APY?
Here is a simplified illustration:
| Savings Balance | Hypothetical 4% APY | Approx. Annual Interest |
|---|---|---|
| $1,000 | 4.00% | $40 |
| $5,000 | 4.00% | $200 |
| $10,000 | 4.00% | $400 |
| $25,000 | 4.00% | $1,000 |
| $50,000 | 4.00% | $2,000 |
| $100,000 | 4.00% | $4,000 |
These figures are simplified examples, not guaranteed returns.
What Is APY?
APY stands for Annual Percentage Yield.
It measures the amount of interest you could earn over a year while accounting for the effect of compounding.
When comparing savings accounts, APY is generally more useful than simply comparing the stated interest rate.
For example:
- Account A: 3.50% APY
- Account B: 4.00% APY
If all other conditions were identical and the rates remained unchanged, Account B would generate more interest.
Are High-Yield Savings Accounts Safe?
A high-yield savings account held at an FDIC-insured bank generally receives FDIC deposit insurance up to the applicable limit.
The standard FDIC insurance limit is generally $250,000 per depositor, per insured bank, for each ownership category.
This protection applies to eligible deposit accounts, not investments such as stocks, ETFs or cryptocurrencies.
Always verify the institution’s insurance status before depositing money.
What Should You Compare Before Opening an HYSA?
The highest APY isn’t necessarily the most important factor.
Consider the following:
1. APY
Check the current annual percentage yield.
Because savings rates are generally variable, the APY can change after you open the account.
2. Minimum Deposit
Some banks require a minimum opening deposit.
Others allow you to open an account with $0 or a very small deposit.
3. Minimum Balance
Some accounts require a specific balance to earn the advertised APY.
4. Monthly Fees
Look for accounts with no monthly maintenance fees or clearly understand how fees can be avoided.
5. Withdrawal and Transfer Rules
Check how quickly you can move money between your savings account and checking account.
6. Direct Deposit Requirements
Some accounts offer their highest APY only if you meet direct-deposit or other qualifying requirements.
7. Promotional APYs
A promotional APY may be available only for a limited period.
Always check what rate applies after the promotional period ends.
8. Balance Caps
A bank may advertise a high APY only up to a certain balance.
For example, a 5% APY may apply only to the first $5,000.
9. FDIC Insurance
Verify that the bank is FDIC-insured and understand the applicable coverage limits.
High-Yield Savings Account vs. Traditional Savings Account
The biggest difference is generally the interest rate.
Traditional savings accounts at large brick-and-mortar banks can offer relatively low yields, while online banks and specialized financial institutions frequently offer more competitive rates.
Bankrate reported a national average savings rate of 0.64% in its September 2026 survey, while other current comparisons using government data report the national average around 0.38%. The difference reflects different methodologies and measurement dates.
This is why consumers should compare current APYs rather than relying on a historical rate.
High-Yield Savings Account vs. CD
A certificate of deposit (CD) generally requires you to keep money deposited for a specific period.
A high-yield savings account generally provides easier access to your money, while a CD can provide a fixed rate for its term.
A HYSA may therefore be useful for:
- Emergency funds
- Short-term savings
- Money needed within the next few years
- Cash reserves
A CD may be worth comparing when you are comfortable locking money away for a specified period.
Who Should Consider a High-Yield Savings Account?
A HYSA may be useful for someone building:
- An emergency fund
- A home down payment
- A car fund
- A vacation fund
- A moving fund
- A wedding fund
- A large-purchase fund
- A short-term savings reserve
It can also be useful for people who want their cash to earn interest without exposing that cash directly to stock-market fluctuations.
How to Open a High-Yield Savings Account
Opening an HYSA is usually straightforward.
Step 1: Compare Accounts
Compare APYs, fees, minimum balances and account features.
Step 2: Verify Insurance
Confirm FDIC insurance for a bank or applicable federal credit-union insurance where relevant.
Step 3: Read the Terms
Look carefully at requirements for receiving the advertised APY.
Step 4: Apply
You may need:
- Name
- Address
- Social Security number
- Date of birth
- Government-issued identification
- Bank account information
Step 5: Fund Your Account
Transfer money from an existing bank account or use another permitted funding method.
Frequently Asked Questions
What is the best high-yield savings account in 2026?
There is no single account that is best for everyone. Current September 2026 comparisons include Newtek Bank, Axos Bank, Climate First Bank, Peak Bank, CIT Bank, SoFi, E*TRADE, EverBank and others among competitive options.
What is the highest HYSA rate right now?
The answer changes frequently. As of September 2026, current comparisons show some accounts offering around or above 4% APY, with certain specialized or conditional accounts advertising higher rates.
Can a high-yield savings account lose money?
An FDIC-insured deposit account is fundamentally different from a market investment. Eligible deposits are protected within applicable FDIC limits if an insured bank fails. However, your purchasing power can still be affected by inflation, and rates can change.
Can HYSA rates change?
Yes. Most savings-account APYs are variable and can change over time.
Are online savings accounts safe?
They can be, provided you use a legitimate, federally insured institution and follow appropriate security practices. Verify FDIC or NCUA insurance before depositing money.
How much money should I keep in a high-yield savings account?
There is no universal amount. Many people use HYSAs for emergency funds and short-term goals. The appropriate amount depends on your expenses, income, financial obligations and goals.
Is a 4% savings account good?
A 4% APY is currently competitive compared with the national average savings rate, but consumers should also consider fees, requirements, balance limits and whether the rate is promotional.
Final Thoughts
A high-yield savings account can help your cash earn considerably more interest than a low-rate traditional savings account.
For 2026, accounts from Newtek Bank, Axos Bank, Climate First Bank, Peak Bank, CIT Bank, Happen Bank, SoFi, E*TRADE, EverBank and Western Alliance Bank are among the options consumers can research.
However, APY should not be the only deciding factor.
Before opening an account, compare the current APY, fees, minimum balance, direct-deposit requirements, balance limits, withdrawal rules, promotional period and FDIC insurance status.
Most importantly, remember that savings rates can change. Check the bank’s current terms immediately before opening an account.
Daily24 does not provide personalized financial advice.