Make your money work harder
Stop leaving money on the table. Compare the best high yield savings accounts and start earning more on your cash today.
Earn a variable 3.10% APY* with American Express® High Yield Savings Account
Earn a variable 3.10% APY* with American Express® High Yield Savings Account
Earn up to $400 Cash Bonus² & up to 4.00% APY⁸ on Savings Balances
Earn up to 3.75% APY* on qualifying balances with a Barclays' Tiered Savings account
Earn 3.75% APY* with $5k min. balance with Platinum Savings
Adjust the numbers to see what a high-yield account would earn on your balance.
Simple-interest illustration. Actual earnings depend on compounding frequency and rate changes. APY subject to change.
Not all accounts are created equal. Here's how they stack up side by side.
| Feature | Checking | Traditional Savings | High Yield Savings |
|---|---|---|---|
| APY | 0.01% | 0.01 – 0.10% | 4.00 – 5.00%+ |
| Monthly Fees | $5 – $15 | $0 – $5 | $0 |
| Min Balance | $500+ | $25 – $300 | $0 |
| FDIC Insured | Yes | Yes | Yes |
| Debit Card | Yes | No | No |
| Best For | Daily spending | Basic saving | Maximizing earnings |
| $10K Earned / 1 Year | +$1 | +$1 – $10 | +$400 – $500 |
A HYSA gives you the safety of a savings account with dramatically better returns — no extra risk, no lock-in.
Most banks make you choose between checking and savings. SoFi combines both into one account — so you can spend, save, and earn up to 4.00% APY, all in one place. Plus, earn up to $400 in bonuses when you set up direct deposit.
One account for everyday spending and high-yield saving. No need to juggle multiple accounts or apps.
Earn up to 4.00% APY with direct deposit (3.30% base). Interest compounds daily, credited monthly.
New members can earn up to $400 in bonuses when they set up qualifying direct deposit.
No monthly fees, no minimum balance, no overdraft fees. Your money stays yours.
Far above the standard $250K — through the SoFi Insured Deposit Program with partner banks.
Use your SoFi debit card at AllPoint ATMs nationwide — no fees.
Set up direct deposit and access your paycheck before payday.
A closer look at our top-rated high yield savings accounts
The American Express High Yield Savings Account offers a competitive 3.10% APY — well above the national average — backed by the trusted American Express brand. Interest compounds daily and is credited monthly. With no monthly maintenance fees, no minimum balance, and 24/7 customer support, it's a straightforward choice for savers who value reliability and ease of use.
| APY | 3.10% (variable, as of 5/19/2026) |
| Min Deposit | $0 |
| Monthly Fees | None |
| FDIC Insured | Yes, up to legal limits |
| Compounding | Daily, credited monthly |
| Cash Bonus | Undisclosed |
| Mobile App | American Express App (iOS & Android) |
| Standout Feature | Trusted brand + 24/7 support |
This high yield savings account offers a competitive APY with no monthly fees and no minimum balance. Interest compounds daily, helping your money grow faster than in a traditional savings account.
| APY | Competitive (variable) |
| Min Deposit | $0 |
| Monthly Fees | None |
| FDIC Insured | Yes, up to $250,000 |
| Compounding | Daily |
| Mobile App | iOS & Android |
| Standout Feature | High-yield savings |
The Barclays Tiered Savings Account delivers a strong 3.75% APY with no monthly maintenance fees and no minimum balance. Its tiered rate structure rewards higher balances, and interest compounds daily. It's a compelling option for savers looking to maximize returns with a reputable global bank.
| APY | 3.75% (as of 4/14/2026) |
| Min Deposit | $0 |
| Monthly Fees | None |
| FDIC Insured | Yes, up to $250,000 |
| Compounding | Daily |
| Mobile App | iOS & Android |
| Standout Feature | Tiered rates reward higher balances |
Common questions about high yield savings accounts
A high yield savings account (HYSA) is a savings account that offers a significantly higher APY than traditional banks — typically 4-5%+ compared to the national average of 0.01%. They are most commonly offered by online banks, which have lower overhead and pass the savings on to customers as higher rates.
Yes, HYSA deposits are FDIC insured up to $250,000 per depositor, per institution — the same protection as any traditional bank. Some institutions offer extended coverage through partner bank networks.
APY (Annual Percentage Yield) is the real rate of return you earn on your savings over one year, including the effect of compound interest. It's the best way to compare savings accounts because it accounts for how often interest compounds — two accounts with the same interest rate can have different APYs.
Financial experts recommend keeping 3-6 months of living expenses in an easily accessible account as an emergency fund. Beyond that, any cash you don't need for daily spending can earn significantly more in a HYSA than sitting in a regular checking or savings account.
No, your principal is fully protected by FDIC insurance. Your balance will never decrease due to market fluctuations. However, APY rates are variable and can change with market conditions and Federal Reserve rate decisions.
Most HYSAs can be opened online in just a few minutes. You'll typically need a government-issued photo ID, your Social Security number, and a funding source to make your first deposit. Many have no minimum deposit requirement.
American Express® Savings
*The Annual Percentage Yield (APY) as advertised is accurate as of 05/19/2026. Interest rate and APY are subject to change at any time without notice before and after a High Yield Savings Account is opened. Interest Rate and APY of a Certificate of Deposit account is fixed once the account is funded.
1. There is no minimum balance required to open your Account, to avoid being charged a fee, or to obtain the Annual Percentage Yield (APY) disclosed to you.
2. iOS and Android™ only. See app store listings for operating system info.
Sofi Checking and Savings
Up to $400 Bonus Tiered Disclosure
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 sofi.com/banking/checking-offer/
APY disclosures
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 https://www.sofi.com/legal/banking-rate-sheet.
Fee Policy
We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Bank Fee Sheet for details at sofi.com/legal/banking-fees/.
Additional FDIC Insurance
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 SoFi.com/banking/fdic/sidpterms. See list of participating banks at SoFi.com/banking/fdic/participatingbanks.
ATM Access
We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees may be incurred when using out-of-network ATMs. SoFi’s ATM policies are subject to change at our discretion at any time.
Early Access to Direct Deposit Funds 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.
Overdraft Coverage Overdraft Coverage is a feature automatically offered to SoFi Checking and Savings account holders who receive at least $1,000 or more in Eligible Direct Deposits within a rolling 31 calendar day period on a recurring basis. Eligible Direct Deposit is defined on the SoFi Bank Rate Sheet, available at https://www.sofi.com/legal/banking-rate-sheet. Members enrolled in Overdraft Coverage may be covered for up to $50 in negative balances on SoFi Bank debit card purchases only. Overdraft Coverage does not apply to P2P transfers, bill payments, checks, or other non-debit card transactions. Members with a prior history of unpaid negative balances are not eligible for Overdraft Coverage. Eligibility for Overdraft Coverage is determined by SoFi Bank in its sole discretion. Members can check their enrollment status, if eligible, at any time by logging into their account through the SoFi app or on the SoFi website.
0.70% Savings APY Boost
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 sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.
Barclays Bank Savings Account
Barclays Tiered Savings Annual Percentage Yields (APYs) are accurate as of 4/14/2026. Rates may change at any time without prior notice, before or after the account is opened. The same rate may apply to multiple Tiers and Tiers may change without notice. APY earned is based on the Tier in which your end of day account balance falls. Please see Barclays Tiered Savings for current Tier and APY information.
CIT Bank Platinum Savings
*For complete list of account details and fees, see our Personal Account disclosures
1 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-ofday 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.
2 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 June 30, 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.
New CIT Bank Customers: This Platinum Savings APY Boost promotion offer is valid for New CIT Bank customers, who, at account opening, do not have a valid CIT Bank User ID (a "New Customer") or any open CIT Bank accounts provided that the following requirements are met:
• New customers must open a Platinum Savings account with a valid Promo Code, CITBoost. The Platinum Savings APY Boost Promo Code will appear on the online account opening enrollment web page. The Promo Code must be used at the time of account opening. Accounts opened during the program period without the Promo Code are ineligible to receive the APY boost.
• The enrolled Platinum Savings account must be open to receive the APY boost during the promotional period.
CIT Bank Customers with an account prior to the promotion: This Platinum Savings APY Boost promotion is valid for a Primary account owner with an existing account with a CIT Bank User ID before the start of the promotion, provided that the following requirements are met:
• Customers without a Platinum Savings account open prior to the Promotion must open a new Platinum Savings account via the enrollment web page using Promo Code CITBoost.
• Customers with a Platinum Savings account opened prior to the promotion may enroll their current Platinum Savings account into the Platinum Savings Boost promotion via the enrollment web page using Promo Code CITBoost.
• Customers who are not the Primary account owner on a Platinum Savings account may open a new Platinum Savings account as the primary account owner via the enrollment web page using Promo Code CITBoost.
• Accounts opened or enrolled during the program period without the Promo Code are ineligible to receive the APY boost.
There is a limit of one Platinum Savings APY Boost promotional offer per account and per Primary customer. If multiple Platinum Savings accounts are opened, only one account per primary account owner is eligible.
There is no minimum account balance requirement to participate in the Platinum Savings APY Boost promotion.
Additional Important Terms
• The Platinum Savings APY Boost promotion may not be combined with other promotions.
• Customers are ineligible to participate in the Platinum Savings APY Boost promotion if:
o They are earning an APY over the standard rate.
o They participated in a cash bonus promotion in the past 6 months.
• Custodial accounts and accounts in the name of a Trust are not eligible.
• This offer is non-transferable.
The value of Platinum Saving Boost will be reported as interest income on IRS Form 1099-INT for the calendar year in which it was paid. The recipient is responsible for any applicable taxes.