Example: You could earn an estimated $1,019 per year in a high-yield savings account versus an estimated $2.50 per year in a typical checking account at 0.01% APY.2 Example assumes a $25,000 average daily balance over 12 months. APY is variable and may change after account opening. Interest earnings are based on current rates and compounding. Comparison is for illustrative purposes and assumes a 0.01% APY checking account. Results will vary.
How much could you earn in interest?
See how much more your savings could earn in a high-yield savings account vs. a typical checking account.
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All of the accounts listed are FDIC-insured, meaning eligible deposits are protected by the U.S. government up to $250,000 per depositor, per ownership category.
Compare Today's Top High-Yield Savings Accounts
Still deciding? Compare today's top high-yield savings accounts side-by-side to find the best rates.
| Bank/Institution | APY
|
Bonus Offer | Open Account | Bonus Offer |
|---|---|---|---|---|
2026 AWARD WINNER
Best Checking and Savings Combo
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5.0
|
3.80
With $0 min. balance
%
APY
|
Limited-Time Offer: +0.70% boost on Savings APY to up to 3.80% for up to 6 months on new accounts4 <p>Earn up to 3.80% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.10% APY) for up to 6 months. Open a new SoFi Checking & Savings account with Eligible Direct Deposit by 12/31/26. Rates variable, subject to change. Terms apply at <a href="https://www.sofi.com/banking/#2">sofi.com/banking#2</a>. SoFi Bank, N.A. Member FDIC.</p> + $50 or $400 Bonus with eligible direct deposit.3 <p>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 <a href="https://www.sofi.com/banking/checking-offer/">sofi.com/banking/checking-offer/</a></p> Terms apply. | ||
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4.3
|
4.10
With $5,000 min. balance8 <p>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 July 1, 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.</p>
%
APY
|
Limited-Time Offer: Earn up to 4.10% APY (3.75% APY8 <p>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 July 1, 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.</p> with +0.35% APY Boost) on balances of $5,000 or more for up to 6 months.9 <p>*This is a limited time offer available to New and Existing customers who meet the Platinum Savings APY Boost promotion criteria. Accounts enrolled in the Platinum Savings Annual Percentage Yield (APY) Boost promotion will receive a 0.35% APY boost on the Platinum Savings current standard APY tiers for 6 months following the opening of a new account or when an existing Platinum Savings account is enrolled in the promotion. The Platinum Savings APY boost will be applied on account balances up to $9,999,999.00. Account balances above $9,999,999.00 will earn the standard APY. If the standard-published APY should change during the promotion period, the APY boost will move with it, offering an account APY above the standard rate. The Promotion begins on February 13, 2026, and ends October 31, 2026. Customers enrolled in the promotion prior to the end date will receive the APY boost for the 6-month period outlined in the terms and conditions. The promotion can end at any time without notice.</p> Enter code CITBoost to qualify. $100 minimum opening deposit. | ||
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4.8
|
4.00
With $250+ monthly deposits
%
APY
|
— | ||
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4.8
|
4.05
With $0 min. balance12 <p>Earn up to 4.05% Annual Percentage Yield (APY) for your uninvested cash in a Wealthfront Cash Account: a 3.30% base APY (provided by program banks, as of 1/30/26) plus a 0.75% APY Boost for 3 months for new clients (on balances up to $150,000). Eligibility requirements must be met to earn the APY boost. Without the boosts, the base rate is 3.30% APY. Rates are variable, subject to change. The Cash Account is offered by Wealthfront Brokerage LLC, Member FINRA/SIPC, and is not a bank or deposit account. Wealthfront Brokerage LLC is not a bank. Funds are swept to program banks where they earn a variable APY and are eligible for FDIC insurance. See full terms at<a href="https://www.wealthfront.com/cash"> wealthfront.com/cash</a>.</p>
%
APY
|
3.30% base variable APY via program banks. Earn a 3-Month 0.75% APY Boost for new clients. Terms and conditions apply. | ||
Award-Winning Favorites
Not all savings accounts are created equal. The FinanceBuzz 2026 Best of Banking Awards recognize institutions delivering exceptional value, innovation, and customer experience — so you can skip the research and open an account you can trust.
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Having your checking and savings accounts with the same financial institution can make money management a lot simpler. We chose SoFi® for best checking and savings account combo because it delivers on interest and additional features.
For example, you could earn up to 3.10% APY on your savings balance with direct deposit.16 <p>Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 5/28/26. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at <a href="https://www.sofi.com/legal/banking-rate-sheet">https://www.sofi.com/legal/banking-rate-sheet</a></p> SoFi also offers more special features than any other account combo we looked at, including round-ups on debit spending, early payday6 <p>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.</p> , a direct deposit cash bonus, and a suite of other online financial products that you’ll get access to as a SoFi account holder. SoFi is also known for its easy-to-use app and website, as well as its excellent customer service. FDIC Insured.7 <p><b style="font-family: Rubik, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, "Helvetica Neue", Arial, sans-serif;">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 <a href="http://sofi.com/banking/fdic/sidpterms">SoFi.com/banking/fdic/sidpterms</a>. See list of participating banks at <a href="http://sofi.com/banking/fdic/participatingbanks">SoFi.com/banking/fdic/participatingbanks</a>.</b></p>
Online High-Yield Savings 101
When picking a new savings account, there are a few key things to consider, like the APY they offer or the fees they charge. And remember, you don’t have to stick with just one account — opening different accounts can help you get the best rates and ensure your money is protected up to the legal limit.
Money in an online savings account is covered by protections as long as the account provider is FDIC insured, and virtually all major banks are. You'll typically see it stated as "member FDIC."
FDIC stands for Federal Deposit Insurance Corporation. The FDIC insurance covers accounts up to $250,000 accounts up to $250,000, so if your bank goes under financially, you will still get back all your money, up to that amount. The National Credit Union Administration provides similar insurance for credit unions.
Savings account interest rates vary from bank to bank and over time. The FDIC indicates the national average interest rate for savings accounts is 0.38% APY (as of 06/15/26) APY. That means if you see an account with a higher interest rate, it would allow you to beat the average.
View Bonus & APY Details for our most recommended savings account
Requirements to open an online savings account vary by the financial institution. You generally need to provide your full name, address, contact details, and a Social Security number. Some banks also require you to provide your driver's license information. If you are planning to fund the new account with money from a different bank or credit union, you will also need that account information.
The process for depositing and withdrawing money from online savings accounts varies by bank or credit union. Generally, you can fund an online savings account via electronic transfer from another bank account, by direct deposit, or by depositing a check. Withdrawals can generally also be completed by bank-to-bank transfer, or you may be able to request a check or use a debit card if your bank allows it.
Learn more about the current deposit bonus offered by our most popular savings account option
How we chose these products
FinanceBuzz evaluated a selection of bank accounts offered by our partners, looking at various criteria including interest rates, minimum deposit requirements, and more. We did not review all products in the category and compensation was considered when evaluating and ordering the products.
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- Limited-Time Offer: +0.70% boost to up to 3.80% APY on Savings for up to 6 months4 <p>Earn up to 3.80% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.10% APY) for up to 6 months. Open a new SoFi Checking & Savings account with Eligible Direct Deposit by 12/31/26. Rates variable, subject to change. Terms apply at <a href="https://www.sofi.com/banking/#2">sofi.com/banking#2</a>. SoFi Bank, N.A. Member FDIC.</p> + Earn a $50 or $400 Bonus with eligible direct deposit.3 <p>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 <a href="https://www.sofi.com/banking/checking-offer/">sofi.com/banking/checking-offer/</a></p> Terms apply. Member FDIC.7 <p><b style="font-family: Rubik, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, "Helvetica Neue", Arial, sans-serif;">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 <a href="http://sofi.com/banking/fdic/sidpterms">SoFi.com/banking/fdic/sidpterms</a>. See list of participating banks at <a href="http://sofi.com/banking/fdic/participatingbanks">SoFi.com/banking/fdic/participatingbanks</a>.</b></p>
- No account, overdraft, or monthly fees5 <p>We do not charge any account, service, or maintenance fees for SoFi Checking and Savings. We do charge transaction fees for outgoing wire transfers, Instant Transfers, and global remittance transfers. Our fee policy is subject to change at any time. See the SoFi Bank Fee Sheet for details at <a href="http://sofi.com/legal/banking-fees/">sofi.com/legal/banking-fees/</a>.</p>
- Get your paycheck up to two days early6 <p>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.</p>