High-Yield Savings Accounts: Find the Best Rates (Up to 5.00% APY)

Your savings account should be pulling its weight. If it isn't, that's not a minor inconvenience -- it's money left on the table every single day.

The national average savings rate sits at just 0.38%. Meanwhile, the best high-yield savings accounts (HYSAs) are still paying up to 5.00% APY. That's not a rounding error. That's a meaningful gap that grows wider the longer you wait.

The good news: switching is easier than you might think, and the accounts offering these rates are available to anyone.

Our Picks for the Best High-Yield Savings Accounts of 2026

Disclaimers

The annual percentage yield (APY) is accurate as of January 8, 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.

Accurate as of the time of publication. The national average rate referenced is from the FDIC’s published National Rates and Rate Caps for Savings deposit products, accurate as of March 16, 2026. See the FDIC website for more information.

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.

Based on comparison to the national average Annual Percentage Yield (APY) on savings accounts as published in the FDIC National Rates and Rate Caps, accurate as of February 17, 2026.

* Platinum Savings APY Boost Promotion Terms and Conditions

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 May 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.

For complete list of account details and fees, see our Personal Account disclosures.

CIT General Disclosure

For complete list of account details and fees, see our Personal Account disclosures. https://www.cit.com/cit-bank/resources/forms

Best HYSA rates today, May 9, 2026

Bank Account APY Requirements Varo Savings up to 5.00% Qualify to earn 5.00% APY on up to $5,000, and 2.50% APY on any amount above that. Go2bank up to 4.50% On savings vault balances up to $5,000 when your checking account is active and in good standing. Pibank Savings 4.40% No min. balance Axos ONE® up to 4.21% Receive at least $1,500 in total monthly qualifying direct deposits and maintain an average daily balance of at least $1,500 Newtek Bank Personal High Yield Savings 4.20% No min. balance to open, min. $0.01 required to earn interest

Data source: Issuing banks. Rates are accurate as of May 8, 2026.

Featured high-yield savings account:

Right now, with the CIT Platinum Savings account, earn up to 4.10%* APY for a limited time with a savings balance of $5,000 or greater. Just use code CITBOOST at sign-up. Growing your savings balance has never been easier. Check out our full review to learn more, or click below to open an account now.

Member FDIC.

Limited-time Offer:

Earn up to 4.10% APY with promo code CITBoost Circle with letter I in it.

With the 6 month Boost limited-time offer, you earn 4.10%* APY on balances over $5,000 (balances less than $5,000 earn 0.60%* APY). After the boost is complete you will continue to earn standard rates-- 3.75% APY for balances over $5,000 (balances less than $5,000 earn 0.25% APY). The minimum to open a Platinum Savings account is $100. Member FDIC. No monthly service fees.

APY

up to 4.10%* Rate info Circle with letter I in it. 4.10%* APY for balances of $5,000 or more; otherwise, 0.60%* APY

• Competitive APY
• No account opening or maintenance fees
• Unlimited number of external transfers (up to daily transaction limits)
• FDIC insured
• Interest compounds daily so your money can grow a bit faster

• Balance requirement for maximum APY
• No branch access; online only

CIT Platinum Savings is a no-frills high-interest savings account that offers one of the highest APYs we've found available today -- as long as you can maintain a $5,000 minimum balance. Plus, customers can make an unlimited number of transfers and withdrawals each month (many savings accounts have monthly limits).

Open a CIT Platinum Savings Account

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.

Based on comparison to the national average Annual Percentage Yield (APY) on savings accounts as published in the FDIC National Rates and Rate Caps, accurate as of February 17, 2026.

* Platinum Savings APY Boost Promotion Terms and Conditions

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 May 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.

For complete list of account details and fees, see our Personal Account disclosures.

CIT General Disclosure

For complete list of account details and fees, see our Personal Account disclosures. https://www.cit.com/cit-bank/resources/forms

At Motley Fool Money, we rate savings accounts on a five-star scale, shown in tenths of a point to highlight even small differences between products. Accounts are evaluated across four main criteria:

• APY
• Brand and reputation
• Fees and minimum requirements
• Accessibility and features

Scores may be adjusted to reward limited-time high rates or penalize accounts with excessive fees. Our goal is to highlight accounts that are competitive, easy to use, and backed by trusted institutions. Learn more about how Motley Fool Money rates bank accounts.

At Motley Fool Money, we rate savings accounts on a five-star scale, shown in tenths of a point to highlight even small differences between products. Accounts are evaluated across four main criteria:

• APY
• Brand and reputation
• Fees and minimum requirements
• Accessibility and features

Scores may be adjusted to reward limited-time high rates or penalize accounts with excessive fees. Our goal is to highlight accounts that are competitive, easy to use, and backed by trusted institutions. Learn more about how Motley Fool Money rates bank accounts.

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High-yield savings accounts are still worth it in 2026

After three Fed rate cuts in 2025 and three consecutive holds to open this year, you might wonder whether the HYSA window has passed. It hasn't -- not by a long shot.

The top accounts tracked here are still paying between 4.00% and 5.00% APY, which remains several times the national average. The Fed's moves ripple through the market gradually, and many online banks have been slow to lower rates as they compete for deposits. That's good news for savers who act now.

What makes these accounts particularly attractive is the combination they offer: your money stays accessible (no lock-in like a CD), deposits are FDIC-insured up to $250,000 per depositor, and you earn meaningful interest without lifting a finger once the account is open.

The risk isn't in opening one -- it's in waiting. If the Fed cuts rates later this year, banks will follow. Locking in today's rates while they're still near their peak is a straightforward way to maximize what your cash earns.

Opening an HYSA takes less time than you think

The biggest barrier to switching is usually the assumption that it's a hassle. In practice, it takes about as long as ordering a coffee.

1. Compare your options. Focus on APY, fees (the best accounts charge none), and how easy it is to transfer money. An account at the same bank as your checking can make moving funds nearly instant.
2. Apply online. Most online banks have a simple digital application. You'll need basic personal information -- name, address, Social Security number, date of birth -- and you're done.
3. Move your money. After approval, initiate a transfer from your existing account. Funds typically settle within a few business days.

Once it's set up, consider routing any direct deposits or regular transfers straight to the new account. You won't need to think about it again -- the interest just accumulates.

What your savings could actually earn

The math on compounding interest is easier to grasp when you see it laid out. At 4.00% APY, here's how a balance grows without any additional contributions:

Starting Balance After 1 Year After 5 Years After 10 Years After 20 Years $1,000 $1,040 $1,217 $1,480 $2,191 $5,000 $5,204 $6,105 $7,454 $11,113 $10,000 $10,407 $12,210 $14,908 $22,226 $20,000 $20,815 $24,420 $29,817 $44,452

Data source: Author's calculations.

That growth happens because interest compounds monthly -- you earn interest on your interest, and the effect builds over time. Against the national average of 0.38%, the difference is stark: the best HYSAs can earn more than 10x more interest on the same balance, with no added risk and no extra effort on your part.

See today's best high-yield savings accounts.

• Sources

FAQs

• No -- HYSA rates are variable, meaning banks can raise or lower them at any time. They generally move in response to Federal Reserve decisions, but banks set their own rates and don't have to follow the Fed's lead exactly or immediately. That's why it's worth opening an account at today's rates rather than waiting, and why it's smart to keep an eye on your rate periodically to make sure it's still competitive.

• Yes, as long as the bank is FDIC-insured -- and all of the accounts featured here are. FDIC insurance protects deposits up to $250,000 per depositor, per institution. That coverage applies whether the bank is a brick-and-mortar branch or an online-only operation. If you have more than $250,000 to deposit, spreading funds across multiple FDIC-insured institutions keeps everything protected.

• Generally, no. Most banks use a soft credit pull -- or no credit check at all -- when you apply for a savings account. Unlike applying for a credit card or loan, opening a savings account doesn't typically result in a hard inquiry on your credit report. Check the specific bank's application terms if you're unsure, but for most HYSAs, your credit score won't be impacted.