The 5 Best High-Yield Savings Accounts in 2026
High-yield savings accounts pay 4%+ APY vs. the 0.01% national average — that's a $2,300+ difference on $10,000 over 5 years. Our top picks are Wealthfront (4.50% APY), Marcus (4.40%), and SoFi (4.30% with direct deposit). Open one in 10 minutes and automate your deposits.
Why a High-Yield Savings Account Matters
If your money is sitting in a traditional savings account earning 0.01% APY, you're leaving hundreds — even thousands — of dollars on the table every year. High-yield savings accounts (HYSAs) offer 40x to 400x the national average rate, and they're just as safe as your regular bank thanks to FDIC insurance.
Whether you're building an emergency fund, saving for a down payment, or parking cash between investments, a HYSA is one of the simplest financial upgrades you can make.
What to Look For
Before we dive into the picks, here's what matters most:
- APY (Annual Percentage Yield) — The higher, the better. Look for 4.00%+ in 2026.
- No monthly fees — Your savings account should never cost you money.
- No or low minimums — You shouldn't need $10,000 just to open an account.
- FDIC/NCUA insurance — Non-negotiable. Your deposits should be insured up to $250,000.
- Easy access — Fast transfers to your checking account when you need the money.
The 5 Best High-Yield Savings Accounts for 2026
1. Marcus by Goldman Sachs
| Feature | Details | |---------|---------| | APY | 4.40% | | Minimum Deposit | $0 | | Monthly Fee | None | | FDIC Insured | Yes |
Why we like it: Marcus consistently offers one of the highest rates among major banks. No fees, no minimums, and a clean, simple app. It's hard to go wrong here.
The catch: No checking account or ATM access — this is purely a savings vehicle. Transfers to an external bank take 1-3 business days.
2. Ally Bank Online Savings
| Feature | Details | |---------|---------| | APY | 4.20% | | Minimum Deposit | $0 | | Monthly Fee | None | | FDIC Insured | Yes |
Why we like it: Ally is a full-service online bank, so you can pair your HYSA with a checking account for instant transfers. Their "buckets" feature lets you organize savings goals within one account.
The catch: Rates can fluctuate. Ally tends to adjust slightly slower than some competitors when the Fed raises rates.
3. Wealthfront Cash Account
| Feature | Details | |---------|---------| | APY | 4.50% | | Minimum Deposit | $0 | | Monthly Fee | None | | FDIC Insured | Yes (up to $8M through partner banks) |
Why we like it: The highest APY on our list, plus an extended FDIC insurance program that covers up to $8 million by spreading deposits across partner banks. Great if you're parking a large sum.
The catch: Wealthfront is primarily an investment platform. The cash account is excellent, but if you want a traditional banking relationship, look elsewhere.
4. SoFi Savings
| Feature | Details | |---------|---------| | APY | 4.30% (with direct deposit) | | Minimum Deposit | $0 | | Monthly Fee | None | | FDIC Insured | Yes |
Why we like it: SoFi bundles checking and savings together with a very competitive rate. You also get access to SoFi's financial planning tools, career coaching, and member events at no extra cost.
The catch: The top APY requires direct deposit. Without it, the rate drops to around 1.00%.
5. Discover Online Savings
| Feature | Details | |---------|---------| | APY | 4.15% | | Minimum Deposit | $0 | | Monthly Fee | None | | FDIC Insured | Yes |
Why we like it: Discover has been in online banking for decades. Reliable, well-reviewed customer service (U.S.-based, 24/7), and a straightforward interface. A solid "set it and forget it" option.
The catch: Slightly lower APY than some competitors, and no budgeting or goal-tracking features built in.
Quick Comparison
| Bank | APY | Min. Deposit | Best For | |------|-----|-------------|----------| | Marcus by Goldman Sachs | 4.40% | $0 | Best overall rate from a major bank | | Ally Bank | 4.20% | $0 | Best for full-service online banking | | Wealthfront | 4.50% | $0 | Best for large balances (extended FDIC) | | SoFi | 4.30% | $0 | Best bundled checking + savings | | Discover | 4.15% | $0 | Best customer service |
How Much Can You Actually Earn?
Let's say you deposit $10,000 into a HYSA earning 4.30% APY:
- After 1 year: $10,430
- After 3 years: $11,342
- After 5 years: $12,346
Compare that to a traditional savings account at 0.01% APY — after 5 years you'd have just $10,005. That's a $2,341 difference on the same deposit, doing absolutely nothing.
Tips for Maximizing Your HYSA
Automate Your Savings
Set up an automatic transfer from checking to savings on payday. Even $50/week adds up to $2,600/year — before interest.
Don't Chase Rates
A 0.10% difference in APY on $10,000 is about $10/year. Pick an account you like using and stick with it rather than constantly switching for marginal gains.
Use It for Your Emergency Fund
A HYSA is the perfect home for your 3-6 month emergency fund. It's liquid enough to access quickly but earns meaningful interest while you (hopefully) never need it.
Watch for Promotional Rates
Some banks offer temporarily inflated rates to attract new customers. Check whether the advertised APY is a standard rate or a limited-time promo.
The Bottom Line
There's no excuse for earning 0.01% on your savings in 2026. Opening a high-yield savings account takes about 10 minutes and could earn you hundreds of dollars more per year. Pick the account that fits your needs, automate your deposits, and let compound interest do the rest.
Rates listed are accurate as of February 2026 and are subject to change. Always verify current rates on each bank's website before opening an account.