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Best Savings Accounts of 2026
By: Conor Keenan | Last updated: May 16, 2026
Conor Keenan, AWMA®, is the Co-Founder of CompareAccounts. An Accredited Wealth Management Advisor® professional with over a decade of experience covering consumer banking and investing trends, his work has appeared in The Wall Street Journal, Reuters, Yahoo Finance, and more.
Editorial Independence: Our opinions, reviews, and recommendations are our own. Partner commissions keep our site free, but our content remains independent.
You’re in the right place. Every day, we help thousands of serious savers earn 10x the pitiful 0.39% national average APY. Imagine checking your balance and seeing your money grow 10x faster simply by opening a new account today. These are the vetted, FDIC-insured accounts we trust with our own families’ money. Choose yours below to start earning what you actually deserve now.
Up to $400 Bonus
Annual Percentage Yield (APY)
4.00% APY
with qualifying activities
On SoFi®'s Secure Site,
Member FDIC
Best For: Bonus Seekers + Large Deposits
SoFi redefines banking with a commitment to no fees—no monthly fees, no overdraft fees, and no account minimums.
Bonus: up to $400 with direct deposit.ⓘ
In addition to the bonus, you'll enjoy up to 4.00% annual percentage yield (APY) on savings balances with qualifying activities and 0.50% APY on checking balances, fee-free overdraft coverage up to $50 and access your direct deposit funds up to two days early, giving you greater financial flexibility. Terms applyⓘ.
The current savings APY without direct deposit or $5,000+ in qualifying deposits during the 31-day evaluation period is 1.00%. Although this is still higher than the national average, if you don't plan on setting up direct deposit or depositing $5,000+, you should look at the other offers on this list.
Your deposits are FDIC-insured up to $250,000 per depositor and you can also access up to $3,000,000 of additional FDIC insurance through a network of participating banks. Ensuring your money stays safe and secure. Earn a $50 or $500 bonus with direct deposit, terms apply.
Limited Time Offer: New account holders earn +0.70% boost to 4.00% on their Savings APY for up to 6 months with eligible direct deposit. Terms apply.
1. Up to $400 Bonus Tiered Disclosure
New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct
Deposits received within 25 calendar days of your first Eligible Direct Deposit of $1 or more) OR $400 (with at least $5,000 total Eligible Direct Deposits received within 25 calendar days of your first Eligible
Direct Deposit of $1 or more). Cash bonus amount will be based on the total amount of Eligible Direct Deposit received within 25 calendar days of your first Eligible Direct Deposit of $1 or more. If you have
satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct
Deposit Promotion begins on 5/15/2026 and will be available through 12/31/26. See full bonus and annual percentage yield (APY) terms at sofi.com/banking/checking-offer/
2. APY disclosures
Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 12/23/25. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet
3. Fee Policy
We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Bank Fee Sheet for details at sofi.com/legal/banking-fees/.
4. Additional FDIC Insurance
SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at SoFi.com/banking/fdic/sidpterms. See list of participating banks at SoFi.com/banking/fdic/participatingbanks.
5. ATM Access
We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees
may be incurred when using out-of-network ATMs. SoFi’s ATM policies are subject to change at our discretion at any time.
6. Early Access to Direct Deposit Funds
Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.
7. Overdraft Coverage
Overdraft Coverage is a feature automatically offered to SoFi Checking and Savings account holders who receive at least $1,000 or more in Eligible Direct Deposits within a rolling 31 calendar day period on a recurring basis. Eligible Direct Deposit is defined on the SoFi Bank Rate Sheet, available at https://www.sofi.com/legal/banking-rate-sheet. Members enrolled in Overdraft Coverage may be covered for up to $50 in negative balances on SoFi Bank debit card purchases only. Overdraft Coverage does not apply to P2P transfers, bill payments, checks, or other non-debit card transactions. Members with a prior history of unpaid negative balances are not eligible for Overdraft Coverage. Eligibility for Overdraft Coverage is determined by SoFi Bank in its sole discretion. Members can check their enrollment status, if eligible, at any time by logging into their account through the SoFi app or on the SoFi website.
8. 0.70% Savings APY Boost
Earn up to 4.00% Annual Percentage Yield (APY) on one SoFi Savings account with a 0.70% APY Boost (added to the 3.30% APY as of 3/31/26) 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.
Annual Percentage Yield (APY)
3.20% APY
APY as of May 16, 2026
On American Express® National Bank's
Secure Site, Member FDIC
Best For: High Yield Savings + Award-Winning Service
Earn a competitive 3.20% Annual Percentage Yield1 (APY) as of May 16, 2026 with the American Express® High Yield Savings Account — a top-tier rate from a brand known for trust, stability, and exceptional service.
Interest compounds daily and is deposited monthly, helping your savings grow effortlessly.
Enjoy no monthly fees, no minimum balance requirements2, and 24/7 U.S.-based customer support.
Your deposits are FDIC insured up to $250,000 per depositor, offering you complete peace of mind. Terms Apply.ⓘ
Manage your savings easily through the American Express® App, where you can check balances, deposit funds, track transactions, and stay in control — anytime, anywhere.
If you're looking for a secure, reliable place to grow your savings — backed by award-winning service — the American Express® High Yield Savings Account is a clear standout.
See American Express National Bank's Secure Site For More Details.
Terms Disclosure:
1. The Annual Percentage Yield (APY) as advertised is accurate as of May 16, 2026. Interest rate and APY are subject to change at any time without notice before and after a High Yield Savings Account is opened. Interest Rate and APY of a Certificate of Deposit account is fixed once the account is funded
2. There is no minimum balance required to open your Account, to avoid being charged a fee, or to obtain the Annual Percentage Yield (APY) disclosed to you.
3. iOS and Android only. See app store listings for operating system info.
4. For purposes of transferring funds to or from an external bank, business days are Monday through Friday, excluding federal holidays. Transfers can be initiated 24/7 via the website or phone, but any transfers initiated after 7:00 PM Eastern Time or on non-business days will begin processing on the next business day. Funds deposited into your account may be subject to holds. See the Funds Availability section of your Consumer Deposit Account Agreement and Savings Schedules for more information.
Bonus Offer
Annual Percentage Yield (APY)
4.10% APY*
for the first 90 days
On EverBank's Secure Site
Powered by Raisin,
Member FDIC
Best For: Exclusive Promo Rate & Welcome Bonus
Founded in 1961, EverBank is a nationwide financial services powerhouse built on a legacy of stability, strong capital, and a commitment to performance-focused growth.
Right now, EverBank is offering an exceptional opportunity for new savers to aggressively maximize their earnings with a 4.10% Promo APY for your first 90 days via their account on the Raisin Platform.
This APY is substantially higher than what you’ll find at most brick-and-mortar banks and most online banks.
After the promotional period, your account seamlessly transitions to a highly competitive 3.95% APY. Clocking in at roughly 10x higher than the national average.
In addition to these top-tier rates, EverBank ensures your money works for you, not the bank. They offer $0 monthly maintenance fees, an incredibly accessible $1.00 minimum opening deposit, and peace of mind knowing your funds are insured by the FDIC for up to $250,000 per depositor.
EverBank has partned with Raisin to leverage its massive $46 billion asset foundation to extend its high-performance digital banking tools and unwavering financial safety to help savers nationwide earn significantly more.
Want to double-dip on your welcome perks? New customers depositing $10,000 or more can get between a $70 to $1,500 cash bonus depending on deposit size.
Use code: FRESHSTART
Significantly boost your effective yield for the first 90 days with this exclusive rate lock and cash offer.
See EverBank's Secure Site Powered by Raisin For More Details.
3.40% APY
On Synchrony Bank's
Secure Site, Member FDIC
Best For: High APY From a Fortune 500 Bank
Synchrony Bank is offering a 3.40% APY (annual percentage yield) on its High Yield Savings Account, that’s many times the national average. With no minimum balance to open and no monthly service fees, you can start earning more on your savings today.
Interest compounds daily and posts monthly, so your money is always working harder for you. Unlike CDs, you’ll still have full access to your cash whenever you need it. Perfect for an emergency fund or short-term goals.
Synchrony also makes managing your account easy: their mobile app gives you 24/7 access to your balance and transactions. And with FDIC insurance up to $250,000 per depositor, you’ll have peace of mind while your savings grow.
Founded in 2003, Synchrony is a Fortune 500 company and one of the largest consumer banks in the U.S., serving millions of customers nationwide. Terms Applyⓘ
See Synchrony Bank's Secure Site For More Details.
Annual Percentage Yield (APY) is subject to change at any time without notice. Offer applies to personal accounts only. Fees may reduce earnings. For High Yield Savings accounts, the rate may change after the account is opened. Visit synchrony.com/banking for current rates, terms and account requirements. Member FDIC.
Compare With
Not Recommended
0.01% APY
Not Recommended. Shown For Comparison Purposes Only.
Chase Bank is one of the largest and most well known banks in the United States. Unfortunately, they offer a measley 0.01% APY on their savings account.
In fact, if you're not careful and perform enough qualifying activies, having a savings account with them can actually cost you money.
The average minimum balance to avoid a monthly service fee is $300. Monthly service fees can be up to $5 per month. They limit withdrawals to 6 per monthly statement period. If you go over this number, you'll be hit with an overage fee up to $15 per month.
Other miscellaneous fees may apply as well. Because of the bottom barrel APY and various fees, we don't recommend you opening a savings account with Chase Bank.
What matters most to you right now?
Best For: High APY Interest Rates
Western Alliance Bank offers 3.80% APYⓘ on their High-Yield Savings Premier account.
In addition to this high APY, Western Alliance offers $0 account activity or maintenance fees and is insured by the FDIC for up to $250,000 per depositor.
The minimum deposit required to open an individual or joint account is $500 & a minimum balance of $0.01 is required to earn the advertised APY.
U.S.-based customer service support is available from 6 a.m. to 6 p.m. PDT Monday - Friday.
Western Alliance Bank was founded in 1994, has over $80 billion in assets and is consistently ranked among the top banks.
They were ranked #1 Top-Performing Large Bank with Assets $50 billion and Above in 2021, 2022, & 2023 by American Banker. They were ranked again by American Banker and Bank Director as a top U.S. bank in 2022, 2023 and 2024.
See Western Alliance Bank's Secure Site For More Details.
Western Alliance Bank APY Disclosure
ⓘ The annual percentage yield (APY) is accurate as of January 20, 2026 and subject to change at the Bank’s discretion. Refer to product’s website for latest APY rate. Minimum deposit required to open an account is $500 and a minimum balance of $0.01 is required to earn the advertised APY.Best For: High APY Interest Rates
Western Alliance Bank offers 3.80% APYⓘ on their High-Yield Savings Premier account.
In addition to this high APY, Western Alliance offers $0 account activity or maintenance fees and is insured by the FDIC for up to $250,000 per depositor.
The minimum deposit required to open an individual or joint account is $500 & a minimum balance of $0.01 is required to earn the advertised APY.
U.S.-based customer service support is available from 6 a.m. to 6 p.m. PDT Monday - Friday.
Western Alliance Bank was founded in 1994, has over $80 billion in assets and is consistently ranked among the top banks.
They were ranked #1 Top-Performing Large Bank with Assets $50 billion and Above in 2021, 2022, & 2023 by American Banker. They were ranked again by American Banker and Bank Director as a top U.S. bank in 2022, 2023 and 2024.
See Western Alliance Bank's Secure Site For More Details.
Western Alliance Bank APY Disclosure
ⓘ The annual percentage yield (APY) is accurate as of January 20, 2026 and subject to change at the Bank’s discretion. Refer to product’s website for latest APY rate. Minimum deposit required to open an account is $500 and a minimum balance of $0.01 is required to earn the advertised APY.
Annual Percentage Yield (APY)
3.75% APY
On CIT Bank®'s Secure Site,
Member FDIC
Best For: $5,000+ Balances
CIT Bank ranked #1 in the nation for humanizing the customer experience in a recent survey conducted by American Banker of more than 5,000 consumers covering 50 financial institutions.
CIT Bank has been helping customers for over 100 years. Founded in 1908, CIT Bank is now part of First Citizens BancShares, Inc.
CIT Bank offers 3.75% APY1 on their Platinum Savings account with no monthly fees. Minimum Balance for this APY is $5,000.
You can open a CIT Bank platinum savings account in as little as 5 minutes to complete the sign-up process.
Deposits are insured through the FDIC for up to $250,000 per depositor and interest compounds daily. Terms Applyⓘ
See CIT Bank's Secure Site For More Details.
Platinum Savings Account Disclosure
1 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 January 9, 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.
- For complete list of account details and fees, see our Personal Account disclosures. please visit: https://www.cit.com/cit-bank/resources/forms
Compare With
Not Recommended
0.01% APY
Not Recommended. Shown For Comparison Purposes Only.
Wells Fargo is also one of the largest banks in the United States and also offers a very low APY for their savings accounts.
They currently offer a sad 0.01% Way2Save Savings Account.
They require a minimum opening deposit of $25 and also force people to jump through hoops to avoid their monthly fees. You can avoid the fee with a $300 minimum daily balance, qualified transfers from a linked Wells Checking account and vice versa or if the primary account holder is 24 years old or under.
However, other fees may still apply. See terms for full details.
Because of the bottom barrel APY and various fees, we don't recommend you opening a savings account with Wells Fargo.
2.51% APY
On Raisin's Secure Site for
State Exchange Bank, Member FDIC
Best For: High-Yield Savings + Community Bank
The State Exchange Bank is a locally owned, independent community bank with deep roots in Oklahoma.
It originally opened in Salt Fork on October 1, 1901 and relocated to Lamont in 1935, where it has continued operating as a community-focused institution.
Today, The State Exchange Bank offers its high-yield savings account nationwide through Raisin platform. Savers can earn 2.51% APY, open with just $1, and manage the account online with 24/7 access with no monthly fees.
Deposits are FDIC insured up to $250,000 per depositor.
See Raisin's Secure Site for The State Exchange Bank For More Details.
To recap our recommendations.
Best Savings Accounts According To CompareAccounts™
SoFi® Checking and Savings: 4.00% APY & Earn up to $400 with qualifying activities
American Express® High Yield Savings Account: 3.20% APY as of May 16, 2026
EverBank® High-Yield Savings Account: up to 4.10% APY - with Promo Code: FRESHSTART
CIT Bank® Platinum Savings Account: 3.75% APY
Customers Also Viewed: Bonus Checking Accounts
Top choice for bonus + APY
Bonus: up to $400 with Direct Depositⓘ
Limited Time Offer: +0.70% Boost to 4.00% APY for up to 6 Months on New Accounts with Eligible Direct Deposit.
On SoFi's Secure Site,
Member FDIC
$400 Bonus
On Truist's Secure Site,
Member FDIC
Best For: $400 Bonus From a Top 10 Bank
Truist is ranked among the top 10 largest banks in the United States with over $500 billion in assets and with more than 2,000 financial centers spread throughout the South, Mid-Atlantic, and Midwest regions, in short, its a great choice for your checking account.
Plan for about 10-15 minutes. Truist may require a mobile identity verification (photo ID + selfie) to finish your application.
Earn $400 when you 0pen a new Truist One Checking account online from 3/26/26 through 7/09/26, and receive at least 2 qualifying Direct Deposits* totaling $2,000 or more and complete at least 20 qualifying debit card purchases within 120 days of account opening. The reward will be deposited to the new checking account within 4 weeks after the qualification requirements have been met and verified.
For new checking clients only. Terms & conditions apply.ⓘ
Use Promo Code: AFL400TR1Q226
Truist provides 24-hour automated assistance and if you need to talk to someone, customer service is available Monday through Friday, 8 am to 8 pm ET, Saturday, 8 am to 5 pm ET, closed Sunday.
To top it off, this account has $0 overdraft fees, $0 ATM fees at Truist ATMs, a Balance Buffer2 if you meet the requirements, and only requires a $50 minimum deposit to open today.
See The Truist One Offer Page For More Details.
Terms and Conditions for Truist One Checking Affiliate $400 Online Offer Q2 2026: AFL400TR1Q226
Offer Information: Open a new Truist One Checking account online from 3/26/26 through 7/9/26, complete the following activities within 120 days of the account opening and earn $400. You must open the account online and enter the promo code to be eligible to participate in the promotion.
- Receive at least two qualifying direct deposits* totaling $2,000 or more AND
- Complete at least 20 qualifying debit card purchases** within 120 days of account opening. All debit purchases must be posted to your account to qualify.
Account must be opened online. Enrollment in the promotion is required at the time of account opening using promo code AFL400TR1Q226. Please refer to the Account Opening and Enrollment section below for full instructions.
*A qualifying direct deposit is an electronic credit (greater than $5.00) deposited into your new checking account via ACH. Person to person payments (such as Zelle®), Real Time Payments (RTP), pre-authorized transfers made from one account to another, or deposits made via a branch, ATM, online transfer, mobile device, debit/prepaid card number or the mail are not eligible direct deposits.
**Qualifying debit card purchases include any purchase made with a Truist debit card and posted to the new checking account within 120 days of account opening. ATM withdrawals using your debit card are not qualifying transactions. Zelle® transactions are not qualifying transactions. Bank fees are not included.
Offer Eligibility: Clients that are the primary account holder on an existing personal checking account with Truist or who have closed a personal checking account with Truist on or after 3/26/25 are not eligible to participate. Offer valid for Truist One Checking accounts only. Primary account holder must be 18 or older at the time of account opening. Truist employees, Directors, Officers, and Local Boards/Advisors are not eligible. Offer available only to US residents with a valid US taxpayer identification number. The qualifying checking account must be opened online and have a physical address in: AL, AR, FL, GA, IN, KY, MD, MS, NC, NJ, OH, PA, SC, TN, TX, VA, WV or DC.
Reward Processing: The reward will be deposited to the new checking account within 4 weeks after the qualification requirements have been met and verified. Promotion is only applicable once per checking account and per client. Truist may report the value of any offer reward received to the IRS as required by law. Any applicable taxes are the responsibility of the recipient.
Reward Forfeiture: Reward forfeiture will occur if: (1) the new checking account is changed to an account type not included in this client offer (2) the new checking account has a $0.00 or negative available balance or is restricted at the time Truist verifies the qualification requirements have been met or (3) the new checking account is closed at the time of payout. An account is considered restricted if it has a temporary or permanent block that prevents credits from posting to the account. Truist verification will occur one time after the qualification requirements are initially met.
Other Terms: Minimum opening deposit is $50. The offer is non-transferable, may not be combined with any other checking offers, is subject to change, and may be discontinued at any time. Truist reserves the right, in its sole discretion: 1) to prohibit a reward payout for any offers claimed through third-party websites with no affiliation or prior authorization from Truist; and 2) to disqualify any account if Truist suspects accounts are being opened for the purpose of exploiting this promotional offer. All standard account terms and conditions apply.
Account Opening & Enrollment Instructions: To open and enroll your new account in the promotion, visit the offer website and click on “Open an account online.” Enter AFL400TR1Q226 into the promo code field provided, review the offer Terms and Conditions, and then select “Accept this offer”. Accounts opened without the promo code applied will not be eligible to participate in the offer. Once enrolled in the promotion, clients may receive promotional updates via the email address provided or by calling 800.709.8700.
Version 3 02182026 AFL400TR1Q226
2 The Balance Buffer is only available with Truist One Checking and allows clients to overdraw their account up to $100. There is no decision required as this feature is automatically available when a client qualifies.
To INITIALLY QUALIFY for the Balance Buffer, the requirements below must be met:
- Account must be opened for a minimum of 35 calendar days
- Account must be funded with a positive balance
- A single direct deposit of at least $100 made within the last 35 calendar days
To REMAIN QUALIFIED for the Balance Buffer, the requirement below must be met:
- A single direct deposit of at least $100 made within the last 35 calendar days. After qualifying, if 35 calendar days pass without a Direct Deposit of at least $100, you will no longer have access to the Balance Buffer.
For accounts that qualify for the Balance Buffer, once the account is overdrawn by $100, additional transactions will typically be declined or returned.
For accounts that qualify for the Balance Buffer and also have Overdraft Protection, Truist will use the Balance Buffer first. If the account has neither, transactions that exceed the account balance will typically be declined or returned.
3 The Monthly Maintenance Fee (MMF) can be waived for the Truist One Checking account for each statement cycle by any one of the following:
Maintenance fees are waived for primary account owners under the age of 25 or age 62 and older.
Making $500 or more in total qualifying Direct Deposits per statement cycle. A qualifying direct deposit is an electronic credit via ACH deposited to your account during the current statement cycle. Pre-authorized transfers made from one account to another or deposits made via a branch, ATM, online transfer, mobile device, debit card/prepaid card number or the mail are not eligible to meet this requirement.
Maintain a total combined ledger balance of $500 or more in your Truist related accounts. Related accounts automatically include all applicable accounts associated with primary and secondary account owners. Your total combined ledger balance is the sum of the actual balances of all your Truist related accounts across personal deposit accounts (checking, savings, money market, CD, or IRA) and brokerage accounts introduced through Truist Investment Services, Inc. (TIS) including TIS accounts managed by Truist Advisory Services, Inc., as reflected on the business day before your statement cycle end date (the actual balance in your account does not reflect any holds or pending transactions). Truist HSA is excluded from total combined ledger balance.
Having a personal Truist credit card, mortgage or consumer loan, including LightStream®.
Having a linked Small Business Checking Account. Eligible Small Business account types include: Truist Dynamic Checking, Business Interest Checking, Simple Business Checking and Business Value 200.
Primary account owner is a student. The waiver for a student requires they are listed as the primary account owner and they provide their anticipated graduation date. The waiver expires on the provided graduation date. On this date, the account is subject to the Monthly Maintenance Fee unless at least one waiver criterion is satisfied.
Truist Bank, Member FDIC. © 2026 Truist Financial Corporation. Truist, the Truist logo, Truist Purple, Truist One, Truist Marquee, LightStream, and the LightStream logo are service marks of Truist Financial Corporation.
Up to $400 Bonus
On SoFi's Secure Site,
Member FDIC
Best For: Bonus + Annual Percentage Yield
SoFi redefines banking with a commitment to no fees—no monthly fees, no overdraft fees, and no account minimums.
Bonus: up to $400 with direct deposit.ⓘ
In addition to the bonus, you'll enjoy a limited time offer: New account holders earn +0.70% boost to 4.00% on their Savings APY for up to 6 months with eligible direct deposit and 0.50% APY on checking balances, fee-free overdraft coverage up to $50 and access your direct deposit funds up to two days early, giving you greater financial flexibility. Terms apply.ⓘ
Withdraw cash without fees using your SoFi Debit Mastercard® from a network of 55,000+ ATMs, and make transactions seamless with SoFi’s intuitive, mobile-first banking. Use the app to transfer money, pay bills, deposit checks, or track your savings—all at your fingertips.
Your deposits are FDIC-insured up to $250,000 per depositor, ensuring your money stays safe and secure. Earn a $50 or $400 bonus with direct deposit, terms apply.
1. Up to $400 Bonus Tiered Disclosure
New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct
Deposits received within 25 calendar days of your first Eligible Direct Deposit of $1 or more) OR $400 (with at least $5,000 total Eligible Direct Deposits received within 25 calendar days of your first Eligible
Direct Deposit of $1 or more). Cash bonus amount will be based on the total amount of Eligible Direct Deposit received within 25 calendar days of your first Eligible Direct Deposit of $1 or more. If you have
satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct
Deposit Promotion begins on 5/15/2026 and will be available through 12/31/26. See full bonus and annual percentage yield (APY) terms at sofi.com/banking/checking-offer/
2. APY disclosures
Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 12/23/25. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet
3. Fee Policy
We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Bank Fee Sheet for details at sofi.com/legal/banking-fees/.
4. Additional FDIC Insurance
SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at SoFi.com/banking/fdic/sidpterms. See list of participating banks at SoFi.com/banking/fdic/participatingbanks.
5. ATM Access
We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees
may be incurred when using out-of-network ATMs. SoFi’s ATM policies are subject to change at our discretion at any time.
6. Early Access to Direct Deposit Funds
Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.
7. Overdraft Coverage
Overdraft Coverage is a feature automatically offered to SoFi Checking and Savings account holders who receive at least $1,000 or more in Eligible Direct Deposits within a rolling 31 calendar day period on a recurring basis. Eligible Direct Deposit is defined on the SoFi Bank Rate Sheet, available at https://www.sofi.com/legal/banking-rate-sheet. Members enrolled in Overdraft Coverage may be covered for up to $50 in negative balances on SoFi Bank debit card purchases only. Overdraft Coverage does not apply to P2P transfers, bill payments, checks, or other non-debit card transactions. Members with a prior history of unpaid negative balances are not eligible for Overdraft Coverage. Eligibility for Overdraft Coverage is determined by SoFi Bank in its sole discretion. Members can check their enrollment status, if eligible, at any time by logging into their account through the SoFi app or on the SoFi website.
8. 0.70% Savings APY Boost
Earn up to 4.00% Annual Percentage Yield (APY) on one SoFi Savings account with a 0.70% APY Boost (added to the 3.30% APY as of 3/31/26) 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.
$300 Bonus
On KeyBank's Secure Site,
Member FDIC
Best For: Mobile Banking + Bonus
New Key Smart Checking® customers can earn a $300 Cash Bonus when you make the minimum opening deposit of $10 and a total of $2,000 or more in eligible direct deposits within the first 90 days of account opening. To be bonus eligible, you need to open your account online by May 22, 2026. Account must not be closed at time of gift payment.
This account offers no monthly maintenance fee, available overdraft protection services & access to 40,000+ fee-free ATMs nationwide with your KeyBank Debit Mastercard®.
Additionally, this account offers relationship benefits like better interest rates on savings and money market accounts, more cash back, loan discounts and more.
Early Pay means you could get paid up to two days early with eligible direct deposits to a KeyBank account.
With secure online & mobile banking you can deposit checks in the mobile app, pay bills, send money, lock/unlock cards and more.
The KeyBank Enhanced Debit Mastercard® offers chip security, Tap & Go technology and all the benefits of Mastercard.
Easy direct deposit set up can have your paychecks or other recurring payments automatically deposited to your KeyBank account quickly and securely.
Accounts are subject to approval. Terms and conditions apply.
Overall, this is an excellent account from a respected bank with over $187 Billion in assets.
See KeyBank's Secure Site For More Details & Other Offers.
Direct Deposit Benefits
On Chime's Secure Site,
FDIC Insured
Best For: Direct Deposit Benefits
The Chime® Online Checking Account is designed to maximize the benefits of direct deposit and empower your financial journey.
- Early Pay Access: Set up direct deposit with Chime and receive your paycheck up to two days earlier, giving you quicker access to your hard-earned money.
- SpotMe® Fee-Free Coverage: Eligible members can access up to $200 in fee-free SpotMe coverage when using their Chime Visa® Debit Card. Eligibility requirements and limits apply.
- MyPay® Access1: Enjoy financial flexibility with MyPay®, enabling you to access up to $5002 of your pay before the scheduled payday. Note: Only offered in select states.
- Extensive Fee-Free ATM Network: Access over 47,000 fee-free ATMs at locations like Target, Walgreens®, 7-Eleven®, and more.
- Fee Free Banking: Enjoy banking with no monthly maintenance fees, no minimum balance requirements, and no overdraft fees, allowing you to keep more of your money.
Customer service is available offering 24/7 live support with a real human.
Open your account for free in 2 minutes or less. Terms & conditions apply to the features of this account.ⓘ
See Chime's Secure Site For More Details.
Chime is a financial technology company, not a bank. Banking services and debit card provided by The Bancorp Bank, N.A. or Stride Bank, N.A.; Members FDIC.
SpotMe Disclosure: SpotMe® on Debit is an optional service that provides fee-free overdraft if a member meets certain qualification criteria. Chime SpotMe enables members to draw their Chime Checking Account negative for debit card transactions, ATM withdrawals, cash back transactions or “over the counter” or OTC withdrawals (“Qualifying Transactions”) up to a specified amount (the “Limit”). This Limit is determined by Chime in its sole discretion based on the history of any Chime-branded accounts you have, direct deposit history and direct deposit amounts, spending activity and other risk-based factors. SpotMe on Debit is not a credit product, cash advance, a loan, or overdraft protection. Comparing SpotMe to any of these other products is not accurate and would diminish integrity of the product's structure.
SpotMe® on Credit is an optional, no interest / no fee overdraft line of credit tied to the Secured Deposit Account available to qualifying members with an active Chime Card Account. To qualify for the SpotMe on Chime Card service, you must receive $200 or more in qualifying direct deposits to your Chime® Checking Account each month and have activated your physical secured Chime Visa® Credit Card or Chime Visa® Debit Card.
Qualifying members will be allowed to overdraw their Secured Deposit Account up to $20, but may later be eligible for a higher limit of up to $200 or more based on Chime account history, direct deposit frequency and amount, spending activity and other risk-based factors. The SpotMe on Chime Card Limit will be displayed within the Chime mobile app and is subject to change at any time, at Chime’s or its banking partners’ discretion. Although Chime does not charge any overdraft fees for SpotMe on Chime Card, there may be out-of-network or third-party fees associated with ATM transactions and fees associated with OTC cash withdrawals. SpotMe on Chime Card won’t cover non-card transactions. SpotMe on Chime Card Terms and Conditions apply.
Chime ATM Disclosure: Out-of-network ATM withdrawal and over the counter advance fees may apply except at FCTI® ATMs in a 7-Eleven® or Speedway, or any Allpoint® or Visa® Plus Alliance ATM participating in the Allpoint network.
Fee-Free Banking Disclosure: Optional services and products may have fees or charges, such as outbound instant transfers, out-of-network transactions, and credit products. Learn more here.
Chime Early Pay Disclosure: Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. We generally make these funds available on the day the payment file is received, which may be up to 2 days earlier than the scheduled payment date.
Chime MyPay® Disclosure: MyPay® line of credit provided by The Bancorp Bank, N.A. or Stride Bank, N.A. MyPay services provided by Chime Capital, LLC (NMLS 2316451).
To be eligible for MyPay, you must receive qualifying direct deposits to your Chime Checking Account as set forth in the MyPay Agreement. A qualifying direct deposit is a deposit from an employer, payroll provider, gig economy payer, government benefits payer, or other permitted source of income by Automated Clearing House (“ACH”) or Original Credit Transaction (“OCT”). Your MyPay Credit Limit and Maximum Available Advance may change at any time. MyPay is a line of credit and available limits are based on estimated income and risk-based criteria. Eligible members may be offered a $20 - $500 Credit Limit per pay period. Your Credit Limit and Maximum Available Advance will be displayed to you within the Chime app. MyPay is only offered in select states and is currently only available to eligible Chime members in certain states. Other restrictions may apply. See Bancorp MyPay Agreement or Stride MyPay Agreement for details.
MyPay®: MyPay is a line of credit that allows members to get up to $500 of their pay anytime before payday with no interest, no credit check, and no mandatory fees. Most members’ credit limits start between $50 and $100, and can increase over time up to $500 depending on factors such as length and amount of your direct deposit activity. Members can get funds for free within 24 hours, or instantly for a fee of 3% of the advance amount ($2 minimum, $5 maximum) per advance. See Bancorp MyPay Agreement or Stride MyPay Agreement for details. MyPay is not an earned wage access product.
State Eligibility: You must live in one of the following states or the District of Columbia (Washington, D.C.) to be eligible for MyPay: Alabama, Alaska, Arizona, Arkansas, California, Delaware, District of Columbia (Washington, D.C.), Georgia, Florida, Idaho, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maryland, Michigan, Mississippi, Missouri, Nebraska, Nevada, New Hampshire, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Utah, Vermont, Virginia, and West Virginia. Please see the MyPay Agreement for the most up-to-date state eligibility.
Optional services and products may have fees or charges, such as outbound instant transfers, out-of-network transactions, and credit products.
What to Look for in a High-Yield Savings Account
It’s always wise to compare your options when opening a new savings account. Small differences in interest rates and fees can quickly add up over time, especially if you’re keeping a large balance in savings.
Here are the top features to look for and compare:
1. Interest Rate
The interest rate of a savings account is one of its most important features. However, a very high interest rate can get completely wiped out by monthly fees.
Although your main goal may be a higher interest rate, be sure to focus on low and better yet, no monthly fee accounts. Other important features of your savings account include the required initial deposit, minimum balance required, and how you access your money.
2. Monthly Fees
Monthly fees can destroy your return. You should avoid them like the plague. That’s why we recommend you focus on no monthly fee savings accounts to maximize your return.
3. Required Initial Deposit
Does the bank require a large initial deposit? Are you comfortable depositing that much right away? These days, most banks will allow you to open an account with as little as $1 or even $0 dollars.
Some banks may offer a higher yield with a higher initial deposit. You’ll just need to decide whether that higher initial deposit will be worth any increase in yield.
4. Minimum Balance Required
Minimum balance required to maintain your account is another feature to keep a close eye on.
Most of the banks we recommend do not have large minimum balance requirements, if any minimum balance requirement at all.
The accounts we do recommend that have a higher minimum required balance are usually CD accounts, which you don’t want to open unless you want to lock up your money for 6 months, 12 months or longer.
5. Accessing Your Money
Accessing your money is important with any account. Some high yield savings accounts allow you to transfer funds out of the account as often as you’d like, while others place limits on the number of outgoing transfers you can perform per month.
Additionally, some banks will issue a debit card for your high yield savings account, although that is more common for checking accounts.
We recommend to not focus on the debit card aspect too much and instead ask yourself “how often will I need to pull money from my savings?” We believe that savings should be left alone, until really needed, in order take advantage of compound interest.
Although a limit of 6 out going transfers sounds low, if you need to pull money out more often than that, we’d recommend putting those funds into a checking account instead.
*National Savings Rate Average as published by FDIC