Best Savings Accounts
By: Conor Keenan, AWMA® | Updated: November 13, 2026
CompareAccounts co-founder and Accredited Wealth Management Advisor® designee with 10+ years covering banking and investing. His work has appeared in The Wall Street Journal, Reuters, and Yahoo Finance.
Editorial Independence: Opinions, recommendations, and reviews are our own. Partner commissions help keep our site free. They do not influence our editorial content.
SoFi®
Checking and Savings
Best for a cash bonus with qualifying direct deposit
With qualifying activities.
- #1 Bank in U.S. – Forbes 2026
- $0 minimum to open
- Limited Time Offer: +1.10% boost to 4.40% for up to six months. Terms apply.8
- Bonus Offer: Earn $50 or $400 with direct deposit, terms apply1
- No monthly service fees3
SoFi Bank, N.A., Member FDIC
Western Alliance Bank®
High-Yield Savings Account
Best for high APY and bonus offer
Lock in this high rate for 90 days from funds posting
- $1 minimum to open
- No account fees
- 90-Day Rate Lock APY: 4.30%
- Post Lock APY: 4.00%
- Individual and joint accounts available
- U.S.-based customer service
- Ranked #1 Best Bank in Arizona – Forbes 2026
- $25K+ Deposit? Earn between $100 - $1,000 cash bonus with promo code STACK
- FDIC insurance up to $250k for individual accounts
- Deposits held by Western Alliance Bank, Member FDIC
Western Alliance Bank, Member FDIC
CIT Bank®
Platinum Savings
Good for higher balances
Earn the advertised APY on balances of $5,000 or more.
- $5,000 balance for advertised APY
- No monthly service fees
- Mobile app and online banking
- Remote check deposit and easy transfers
- Terms apply
Member FDIC
Synchrony®
High Yield Savings
Best for no minimum balance or monthly fees
Interest compounded daily.
- $0 minimum initial deposit
- No monthly fees
- Trusted Fortune 500 Bank with Nationwide Reach Serving Millions of Customers
- Optional ATM card and reimburses up to $5 per month in out-of-network ATM fees.
CIT Bank®
Savings Connect
Best for online savings with no monthly balance requirement
No minimum monthly balance is required.
- $100 minimum opening deposit
- No monthly service fees
- Mobile app and online banking
- Remote check deposit and easy transfers
Member FDIC
American Express®
High Yield Savings Account
Best for a familiar brand with no minimum balance
- $0 minimum to earn APY1
- $0 minimum to open2
- 24/7 customer service
- Backed by the World-Class Service & Reliability of American Express®
Member FDIC
The State Exchange Bank
High Yield Savings through Raisin
Best for a very low opening deposit through Raisin
Available nationwide through the Raisin platform.
- $1 minimum initial deposit
- No monthly fees
- Interest compounded daily
- Established in 1901; terms apply
Member FDIC
Chase Bank
Chase Savings
Included as a traditional-savings comparison
Substantially below the high-yield accounts above.
- $300 balance to avoid the service fee
- Monthly service fee up to $5
- $3 Chase fee per withdrawal at non-Chase ATMs in the U.S.; ATM-owner fees may also apply.
- Potential missed interest A low APY could mean thousands of dollars less in interest over time, depending on your balance & the rates available elsewhere.
Frequently Asked Questions About High Yield Savings Accounts
What is a High Yield Savings Account?
A high yield savings account is a type of bank account that offers a higher Annual Percentage Yield (APY) than a checking account.
A checking account is used for money that needs to be moved quickly such as to pay bills or use for ever day spending.
Whereas a savings account is a better option for money that doesn’t need to be used right away, for example your emergency fund.
How to Find The Best High Yield Savings Account?
Arguably the best way to find the best savings accounts is right here on www.compareaccounts.com. Although we don't showcase every single savings account available, we stand by our recommendations as the highest tier of the best accounts in America.
Why are Online High Yield Savings Accounts Better Than Traditional Ones?
Traditional banks offer low rates on savings accounts. This is because they're managing insanely large amounts of money and need to manage their risk profile. The less “guaranteed returns” they provide, the less risky their overall portfolio becomes. As a result, traditional banks only offer about .01-.10% interest on their savings accounts. A high yield account offers up to 3.86% interest on your savings. Which is much higher than 10x the national average. Now you know why so many people are switching to a high-yield savings account.
Is My Money Safe?
Yes! The Federal Deposit Insurance Corporation (FDIC) protects savings accounts listed on this page. The Federal Deposit Insurance Corporation insures Bank and thrift deposits of up to $250,000.
How Do I Open a High Yield Savings Account?
Easy. Simply click on the "open account" button above. Once you arrive at our partner's site, you'll be able to open your new savings account safely and securely.
*National Savings Rate Average as published by FDIC