Right now, top high-yield savings accounts are offering up to 4.50% APY as of July 9, 2026—and that blows away the FDIC’s national average of 0.38%. For savers who actually want their money to earn something, that’s worth paying attention to.
Whether you’re socking away an emergency fund, saving for something big like a vacation, putting away money ahead of buying gold or silver, or thinking long-term about retirement goals, a high-yield savings account deserves serious consideration. It’s a no-fuss way to get real returns.
Best savings account rates today
Fortune has partnered with the financial industry consultants at Curinos to give you an accurate look at the highest savings account rates on the market. Read on to see our full list of HYSAs and find the one that’s right for your needs.
What the Fortune/Curinos partnership means for your savings
We partner with Curinos—an industry leader that has operated in the financial services space for over three decades—to track daily rates across savings accounts and CDs from a wide range of institutions. That consistent stream of reports helps us build a genuinely useful resource to point you toward accounts worth your attention.
Check Out Our Daily Rates Reports
- Discover the highest high-yield savings rates, up to 5% for July 8, 2026.
- Discover the highest CD rates, up to 4.40% for July 8, 2026.
- Discover the top CD rates from major banks on July 8, 2026.
- Discover the current mortgage rates for July 8, 2026.
- Discover current refi mortgage rates report for July 8, 2026.
- Discover current ARM mortgage rates report for July 8, 2026.
- Discover the current price of gold for July 8, 2026.
- Discover the current price of silver for July 8, 2026.
Historical national average savings rates
While the average savings account rate has increased from the lows seen from 2020 to 2022, it’s still far below the APYs available on the most generous high-yield savings accounts on our list.
Reasons to choose a high-yield savings account
Let’s first clarify that “high-yield savings account” isn’t an official product category. It’s shorthand for any savings account at a bank or credit union offering rates that significantly outpace the industry average.
In many cases, high-yield savings accounts are offered by online banks rather than those with brick-and-mortar branches. By not having to pay for branch infrastructure, and oftentimes by offering a slimmed-down selection of products, online banks can provide higher rates to their customers.
If you’re comfortable with online banking, switching to a high-yield account can substantially boost the interest you earn on your savings. Depending on your balance and account’s specific APY, you could potentially pocket hundreds more each year versus sticking with a traditional savings account.
How much interest you might earn with a higher APY
Here’s a hypothetical to illustrate why HYSAs are worthwhile. Imagine $5,000 sitting untouched for a year. The estimates below show what one might earn in an account with a 5.00% APY compared to one with a mere 0.40% APY (assuming the APY stays consistent over this period).
It’s a relatively easy change to make, and one that offers a real, tangible financial benefit.
Criteria when choosing a high-yield savings account
When you’re shopping around, prioritize these elements:
- Solid interest rates. Hunt for APYs that’ll actually make a difference in what you earn.
- Low or zero minimums. Most high-yield accounts won’t force you to start with thousands, which helps if you’re beginning your savings journey.
- Lack of fees. Steer clear of accounts charging monthly maintenance fees that’ll gnaw away at your interest.
- Accessible funds. Confirm you can withdraw or transfer money freely—be cognizant of withdrawal restrictions or foreign ATM charges.
- Protected deposits. Make sure you’ve got FDIC insurance for bank accounts or NCUA insurance for credit union accounts.
Do be aware you’ll owe taxes on the interest you earn.
Frequently asked questions
Are savings account rates going to fall?
Potentially. When the Federal Reserve adjusts its benchmark federal funds rate, financial institutions follow along in many instances. Since the Fed made several rate cuts in late 2025—good news for borrowers, less so for savers—there’s a legitimate possibility of some savings account rates going down as well if banks expect a cut in 2026 too.
Can I lose money in a high-yield savings account?
As long as your account is insured by the FDIC or NCUA, your deposits are protected up to a $250,000 maximum per institution. And, unlike stock investments, your savings account balance isn’t at the mercy of market swings, though inflation running ahead of your APY could eat away at your purchasing power.
Is a high-yield savings account still worth it?
Yes. Despite recent Fed rate cuts, numerous high-yield savings accounts still deliver near or even over 4.00% APY. These accounts are effectively the best option for earning substantial interest on your money while keeping it readily accessible. However, if you’re open to locking your funds away for a set period of a time, a CD could be worth considering as an alternative.
SoFi Disclaimers
INVESTMENTS ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUE
1.
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2.
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/.
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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-ratesheet. 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.
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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
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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 yourChecking 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/
6: 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.
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Other fees, such as exchange fees, may apply. Please view our fee disclosure to view a full listing of fees.
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Probability of Member receiving $1,000 is a probability of 0.026%; If you don’t make a selection in 45 days, you’ll no longer qualify for the promo. Customer must fund their account with a minimum of $50.00 to qualify. Probability percentage is subject to decrease.
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