Advertiser Disclosure

FDIC Deposit Insurance is Backed by the Full Faith and Credit of the U.S. Government. FDIC Deposit Insurance is Backed by the Full Faith and Credit of the U.S. Government.

Best High Yield Savings Accounts

Conor Keenan

By: Conor Keenan, AWMA®

Accredited Wealth Management Advisor® designee · Updated November 13, 2026

Editorial Independence: Our recommendations and reviews are our own. Partner commissions may help keep our site free and do not influence our editorial content.

Your savings could earn 8 - 10x the national average APY of 0.38%. These are the same vetted accounts we trust with our own families’ money. See the full list & choose the right one for you to start earning more.

 

Need help deciding?

What matters most to you right now?

Need help deciding?

What matters most to you right now?

To recap our recommendations.

Best Savings Accounts According To CompareAccounts™

SoFi® Checking and Savings: 4.40%​ APY & Earn up to $400 with qualifying activities

Western Alliance Bank® High Yield Savings Account: 4.30% APY - 90 Day Rate Lock

American Express® High Yield Savings Account: 3.20% APY as of November 13, 2026

American Express® High Yield Savings Account: 3.20% APY as of November 13, 2026

CIT Bank® Platinum Savings Account: 3.75% APY

Synchrony Bank High Yield Savings Account: 3.75% APY

CIT Bank® Savings Connect Account: 3.65% APY

The State Exchange Bank High Yield Savings Account: 2.51% APY

Certificate of Deposit Accounts are better for longer terms and fixed rates

A certificate of deposit can help you lock in a fixed APY for a set term, if you have a lump sum you do not plan to use soon these are a great option.

To recap our recommendations

Best Certificates of Deposit According to CompareAccounts™

Estimated earnings Estimated earnings is shown per $10,000 deposited and assumes the deposit is held for the listed term using the displayed APY, which already reflects compounding. Because values are rounded, multiplying the displayed amount provides an approximation only. Actual earnings may vary due to account terms, balance tiers, fees, rate changes, timing, withdrawals, or rounding. For illustration only.
A recap of the certificate of deposit offers listed in the comparison table above
Bank / institution APY Term Estimated earnings Estimated earnings is shown per $10,000 deposited and assumes the deposit is held for the listed term using the displayed APY, which already reflects compounding. Because values are rounded, multiplying the displayed amount provides an approximation only. Actual earnings may vary due to account terms, balance tiers, fees, rate changes, timing, withdrawals, or rounding. For illustration only. Learn more

Loading current recommendations…

5.0/5
CompareAccounts™ Score

STILL COMPARING?

A cash bonus.
A savings boost.

Explore SoFi Checking and Savings.

Up to $400 Cash bonus
with Direct Deposit①
Boost to 4.40% APY For up to 6 months
with Eligible Direct Deposit

Limited Time Offer: +1.10% boost on new accounts with Eligible Direct Deposit.

View Bonus + APY Details

On SoFi's Secure Site Member FDIC

① Bonus eligibility and Direct Deposit requirements apply. APY is variable. See SoFi for full offer terms.

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

Important information

Product disclosures

Loading applicable product disclosures…