Best High Yield Savings Accounts Compared: 2026 Guide
Your money shouldn't sit idle. If your savings account is paying 0.01% APY — the national average at traditional banks — you're essentially losing money to inflation every single day. The best high yield savings accounts compared in this guide offer 400 to 500 times that rate, turning your emergency fund into an actual income stream.
Whether you're parking an emergency fund, saving for a down payment, or just want your cash working harder, this comparison will help you find the right account for your needs.
What Is a High-Yield Savings Account?
A high-yield savings account works exactly like a regular savings account — you deposit money, earn interest, and withdraw when needed. The difference is the interest rate. While traditional banks offer a paltry 0.01% to 0.10% APY, the best high yield savings accounts compared here offer 4.00% to 5.25% APY.
Most high-yield accounts are offered by online banks, which have lower overhead costs than brick-and-mortar institutions. They pass those savings on to you in the form of higher interest rates. Your deposits are FDIC-insured up to $250,000, so there's no additional risk.
Top 8 High Yield Savings Accounts for 2026
1. Marcus by Goldman Sachs — 4.90% APY
Marcus consistently ranks among the best high yield savings accounts compared across review sites. With no minimum deposit, no monthly fees, and a competitive 4.90% APY, it's a straightforward choice. The app is clean and easy to use, and transfers to external banks typically arrive within one business day.
Marcus also offers no-penalty CDs if you want to lock in a rate without sacrificing flexibility.
2. Ally Bank — 4.75% APY
Ally is one of the most well-rounded online banks available. Their high-yield savings account offers 4.75% APY with no minimum balance, no monthly fees, and no overdraft fees. What sets Ally apart is the "buckets" feature — you can organize your savings into labeled categories within a single account, making it easy to track goals like vacation funds, emergency savings, and down payments simultaneously.
Ally also offers checking accounts, CDs, and investment products, making it a great one-stop shop for your finances.
3. SoFi Savings — 4.85% APY
SoFi offers one of the highest APYs available at 4.85% for members with direct deposit. Without direct deposit, the rate drops to 1.20%, so this account works best if you're willing to route your paycheck through SoFi. There's no minimum balance and no account fees.
The SoFi ecosystem includes investing, lending, and financial planning, so it's ideal if you want to consolidate your financial life on one platform.
4. Wealthfront Cash Account — 5.00% APY
Wealthfront's cash account offers an impressive 5.00% APY with no fees and no minimum balance. What makes it unique is the extended FDIC insurance — through partner banks, Wealthfront covers up to $8 million in deposits, far exceeding the standard $250,000 limit. This makes it particularly attractive for high-balance savers.
The account integrates seamlessly with Wealthfront's investment platform, making it easy to move money between savings and investments.
5. Discover Online Savings — 4.70% APY
Discover offers a solid 4.70% APY with no minimum balance and no monthly fees. The bank has a strong reputation for customer service and offers 24/7 US-based support. Discover also provides a cashback debit card and checking account, making it a reliable full-service online bank.
6. Capital One 360 Performance Savings — 4.60% APY
Capital One combines the reliability of a major bank with competitive online rates. Their 360 Performance Savings account offers 4.60% APY with no minimums and no fees. If you already bank with Capital One, adding a high-yield savings account is seamless. The mobile app is excellent, and you have access to Capital One Cafés for in-person support in select cities.
7. Barclays Online Savings — 4.80% APY
Barclays offers a competitive 4.80% APY with no minimum opening deposit and no monthly maintenance fees. The account is straightforward — no gimmicks, no hoops to jump through. Barclays has a long history in banking and provides a stable, trustworthy option for savers who want simplicity.
8. American Express High Yield Savings — 4.75% APY
Amex's savings account offers 4.75% APY with no minimum balance and no monthly fees. The brand recognition and customer service reputation of American Express add a layer of confidence. The account links easily to external banks, though transfers can take one to three business days.
How to Choose the Best High Yield Savings Account
When comparing the best high yield savings accounts, APY is important but not everything. Consider these factors:
- APY stability — Some banks offer promotional rates that drop after a few months. Look for banks with a track record of consistently competitive rates.
- Fees — The best accounts charge zero monthly fees. Avoid any account that eats into your interest earnings.
- Access to funds — How quickly can you transfer money out? Some banks offer same-day transfers; others take two to three business days.
- Minimum balance requirements — Most top accounts have no minimums, but some require a balance to earn the advertised APY.
- FDIC insurance — Confirm the bank is FDIC-insured. All accounts listed above are fully insured.
- Additional features — Buckets, sub-accounts, linked checking, and mobile app quality can make a real difference in daily use.
How Much Can You Actually Earn?
Let's put real numbers to it. Here's what you'd earn annually at different balances with a 4.85% APY:
- $5,000 — approximately $242 per year
- $10,000 — approximately $485 per year
- $25,000 — approximately $1,212 per year
- $50,000 — approximately $2,425 per year
Compare that to a traditional bank at 0.01% APY: $50,000 would earn you just $5 per year. The difference is staggering, and switching takes about ten minutes.
High-Yield Savings vs. Other Options
High-Yield Savings vs. CDs
Certificates of deposit often offer slightly higher rates but lock your money for a fixed term — typically three months to five years. If you need flexibility, a high-yield savings account wins. If you have money you won't touch for a year or more, a CD might earn you an extra 0.25-0.50% APY.
High-Yield Savings vs. Money Market Accounts
Money market accounts function similarly to high-yield savings but sometimes include check-writing privileges and debit cards. Rates are comparable. Choose a money market account if you want easier spending access; choose high-yield savings if you want to keep your savings separate from spending temptations.
High-Yield Savings vs. Treasury Bills
T-bills are backed by the US government and can offer competitive yields. However, they require purchasing through TreasuryDirect or a brokerage, and your money is locked until maturity. For pure liquidity and simplicity, high-yield savings accounts are hard to beat.
The Bottom Line
Switching to a high-yield savings account is one of the easiest financial wins available. It takes minutes to open an account, costs nothing, and immediately starts earning you hundreds or thousands more per year on money you're already saving. When you look at the best high yield savings accounts compared side by side, the differences are relatively small — any of the accounts listed above will dramatically outperform your traditional bank. Just pick one and move your money. Future you will be grateful.