What is a high-yield savings account (HYSA) and how does it work?

A high-yield savings account is an online savings account that pays interest rates significantly higher than traditional brick-and-mortar banks. The annual percentage yield (APY) is variable and set by each bank. Interest accrues daily and is credited monthly. You can withdraw money at any time (though some banks limit free transfers to 6 per month). HYSA balances are FDIC-insured up to $250,000 per depositor, per bank.

How much can I earn with a high-yield savings account?

At Marcus's 3.50% APY (top no-strings rate, read at marcus.com on September 27, 2026), a $10,000 balance earns about $350/year, $50,000 earns $1,750/year, $100,000 earns $3,500/year. Capital One 360 and Ally are both at 3.10% APY, earning $310/$1,550/$3,100 at those balances. SoFi® Checking and Savings pays up to 3.10% Annual Percentage Yield (APY) with eligible direct deposit, and new accounts can add a 0.70% Boost on Savings APY to up to 3.80% for up to 6 months (terms apply). Rates are variable and fluctuate with Federal Reserve decisions; we re-verify weekly.

Can APY rates go down? Should I lock in a rate?

Yes, APY rates are variable and can change at any time, usually without notice. You cannot lock in a fixed rate on a HYSA (unlike CDs, which lock rates for set terms). If you want to lock in today's rates for a guaranteed period, consider a certificate of deposit (CD). If you're comfortable with variable rates and want maximum flexibility, a HYSA is the better choice for emergency funds and short-term savings.

What's the difference between a HYSA and a money market account?

A money market account is similar to a HYSA but sometimes includes a debit card and limited check-writing. Both earn interest and have variable APY. In practice, today's online money market accounts and HYSAs offer nearly identical features and rates. The main difference is historical — traditional money market accounts came with check privileges, but modern online versions don't always. Compare features, not labels.

Is my money safe in an online bank HYSA?

Yes, as long as your HYSA is FDIC-insured. Every bank listed on this page is FDIC-insured, protecting deposits up to $250,000 per depositor, per bank. If you have more than $250,000, you can split it across multiple FDIC-insured banks to maintain full protection. Online banks like Capital One 360 and Marcus have strong regulatory oversight and security practices comparable to traditional banks.

Savings Accounts

Best High-Yield Savings Accounts of 2026

Compare online savings accounts earning up to 3.50% APY with no direct-deposit requirement, no minimums, no monthly fees, and FDIC protection. We reviewed 30+ banks to find the best rates for your emergency fund.

Updated September 09, 2026Rates Checked Weekly100% FDIC Insured

Top Rates at a Glance

Quick view of the highest APY rates and best features available right now. Full reviews below.

3.50%

Highest APY, no strings

Marcus by Goldman Sachs

Minimum Balance

All Top Banks

Variable

Rate Type

Subject to Change

4.8/5

Avg. Rating

Top Reviewed

Full Reviews: Best HYSA Banks

Best for In-Person Access

Capital One 360 Performance Savings

3.10%

APY

Min Balance: $0

Monthly Fee: $0

Rating: 4.8/5

Best for: People who want branch and Café access alongside an online rate

Pros

3.10% APY (read at capitalone.com on September 27, 2026, where the footnote states the rate is effective as of 9/27/2026), no minimum balance, $0 monthly fee, FDIC insured to $250K, in-person banking at Capital One Cafés

Cons

Requires Capital One 360 checking for some features, limited in-person banking, transfer speeds vary by bank

Open Account · Earn 3.10% APY

Secure application on Capital One's site · FDIC insured

Best Rate

Marcus by Goldman Sachs

3.50%

APY

Min Balance: $0

Monthly Fee: $0

Rating: 4.7/5

Best for: People who want straightforward online banking

Pros

3.50% APY (read at marcus.com on September 19, 2026, where the page states the APY is as of September 19, 2026), highest no-strings rate among major brand-name banks, no monthly fees, no minimum balance, Goldman Sachs backing, fast online account setup

Cons

No checking account, limited to online transfers, fewer ATM options, modest customer service reputation

Open Account · Earn 3.50% APY

Secure application on Marcus by's site · FDIC insured

Best All-Around

Ally Bank HYSA

3.10%

APY

Min Balance: $0

Monthly Fee: $0

Rating: 4.7/5

Best for: Customers wanting a full banking suite

Pros

3.10% APY (read at ally.com on September 27, 2026, where the disclosure states the APYs are accurate as of 09/27/2026), no fees or minimums, pairs with full-feature checking + CDs + investing, excellent customer service, mobile app rated highly

Cons

Rate matches Capital One and Amex, no ATM card for HYSA, ACH transfers take 1-2 days

Open Account · Earn 3.10% APY

Secure application on Ally Bank's site · FDIC insured

Best for Amex Customers

American Express® High Yield Savings Account

3.10%

APY

Min Balance: $0

Monthly Fee: $0

Rating: 4.6/5

Best for: People already using American Express

Pros

3.10% APY¹ (accurate as of 9/23/2026), no minimum balance², instant transfer via Amex app if you have an Amex card, FDIC insured

Cons

Lower rate than competitors, requires Amex debit/credit card for instant transfers, newer product with less history

¹ The Annual Percentage Yield (APY) as advertised is accurate as of 9/23/2026. 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.

² 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.

Open Account · Earn 3.10% APY

Secure application on American Express®'s site · FDIC insured

Best for Tech-Savvy Users

SoFi® Checking and Savings

up to 3.10% (up to 3.80% boost)

APY

Min Balance: $0

Monthly Fee: $0

Rating: 4.5/5

Best for: Users who want all banking in one app

Pros

up to 3.10% Annual Percentage Yield (APY) with eligible direct deposit (or +0.70% Boost on Savings APY to up to 3.80% for up to 6 months on new accounts. Terms apply.)³⁵, no account, service, or maintenance fees⁴, part of the full SoFi banking ecosystem, fast transfers between SoFi accounts. SoFi Bank, N.A. Member FDIC.

Cons

Lower APY than top competitors, SoFi deposit insurance shared across all deposits, customer service reviews mixed

³ APY: 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

⁴ Fee Policy: We do not charge any account, service, or maintenance fees for SoFi Checking and Savings. We do charge transaction fees for outgoing wire transfers, Instant Transfers, and global remittance transfers. Our fee policy is subject to change at any time. See the SoFi Bank Fee Sheet for details at sofi.com/legal/banking-fees/.

⁵ 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 http://sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.

Open Account · Earn up to 3.10% (up to 3.80% boost) APY

Secure application on SoFi's site · SoFi Bank, N.A. Member FDIC

Savings rate spotlight

Side-by-Side Comparison

How the top four high-yield savings accounts stack up on rates, fees, and features.

Feature	Capital One 360	Marcus	Ally Bank	American Express
APY Rate	3.10%	3.50%Best	3.10%	3.10%
Minimum Balance	$0	$0	$0	$0
Monthly Fee	$0	$0	$0	$0
FDIC Insurance	Yes ($250K)	Yes ($250K)	Yes ($250K)	Yes ($250K)
Transfer Speed	1 day	1-2 days	1-2 days	Instant*Best
Mobile App Rating	4.7/5	4.6/5	4.8/5	4.5/5

Savings rate spotlight

Live, FDIC-insured picks from our partner network — verified and dated in the panel below.

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How We Picked These Banks

Our banking team evaluates every major HYSA offered by online and traditional banks. We measure APY rates, minimum balance requirements, monthly fees, transfer speeds, FDIC protection, and customer service quality. We exclude banks with hidden fees or complex requirements.

All rates shown are current as of June 2026. APY is variable and may change at any time. We update this page weekly to reflect the latest rates. Every account on this list is FDIC-insured and available to U.S. residents. Rates and terms are accurate as of the publish date but may have changed — verify before opening.

We focus on accounts suitable for emergency funds and short-term savings. If you want to lock in a fixed rate for a longer term, consider a certificate of deposit (CD) instead.