Is my money safe in a high-yield savings account?

High-yield savings accounts are safe if they’re offered from a bank that’s insured by the Federal Deposit Insurance Corp. (FDIC) or a credit union that’s a member of the National Credit Union Administration (NCUA). This way, your money won’t be lost if the financial institution fails. At both banks and credit unions, federal deposit insurance limits are $250,000 per depositor, per insured institution, per ownership category.

Why do big banks pay less interest than online banks?

Large brick-and-mortar banks carry the cost of maintaining branch networks, ATMs and in-person staff — expenses online-only banks don't have. Many big banks also count on inertia; customers who've banked there for years and don't shop around tend to stay, regardless of the rate. Online banks, by contrast, compete almost entirely on rate and low fees to win new customers, which is why they can afford to pay several times the national average.

What should I do if I am unable to open a high-yield savings account?

If you’re unsuccessful in opening a new account, you might want to go to ChexSystems’ website and request a report to see whether your banking history is the reason you were denied the account. ChexSystems is a national specialty consumer reporting agency that keeps track of some of your banking history. Things that can appear on a ChexSystems report include your check-cashing history, any suspected fraudulent activity and a list of closed accounts.

Should I get a CD instead of a high-yield savings account?

CDs generally earn a fixed APY for a set period of time. In exchange for the guaranteed return, you agree to leave your money locked away for the chosen term. With high-yield savings accounts, you deal with variable APYs in exchange for being able to withdraw your money at any time. This makes a high-yield savings account a better place for your emergency fund or other money you may need in the near term.

Best high-yield savings accounts of July 2026 (Up to 4.15%)

Written by

Karen Bennett

Edited by

Rhys Subitch

Reviewed by

Ted Rossman

Expert verified

Updated July 31, 2026

At Bankrate we strive to help you make smarter financial decisions. Though our websites may earn compensation when a customer clicks on a link, when an application is approved, or when an account is opened, we maintain editorial integrity, and partners don't influence our product evaluations. Here's how we make money and here is our advertiser disclosure.

A high-yield savings account can be a safe place to earn interest on your money while keeping it easily accessible for emergencies and planning for economic downturns. Today's top savings rate is 4.15% APY offered by Forbright Bank, which is around six times the current national average of 0.63% APY.

In addition to a high APY, the best high-yield savings accounts don’t charge fees and have low minimum deposit requirements. The accounts on this list are Bankrate’s highest-rated savings accounts from FDIC banks or NCUA credit unions.

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Table of contents

Best high-yield savings accounts
Recent news on high-yield savings account rates
Other high-yield savings accounts you can consider
How to choose an online high-yield savings account
Ways to use a high-yield savings account
High-yield savings FAQs
Research methodology

Best high-yield savings accounts for July 2026

Note: APYs may have changed since they were last updated and may vary by region for some products. Bankrate includes only FDIC-insured banks or NCUA-insured credit unions in its editorial listings.

Read review

Forbright Bank

4.9 Bankrate savings score

Annual percentage yield

3.85% – 4.15%
Min. balance for APY

$0
Min. deposit to open

$0

Why Forbright Bank?

Forbright Bank’s Growth Savings account stands out for its competitive yield on any balance. The account can be opened online, and there’s no minimum opening deposit requirement. A promotion currently provides a 0.30% higher APY for new account holders.

Pros

No minimum opening deposit.
Cons

Growth Savings account doesn't come with ATM access.
No customer service on the weekends.

See how rates for this account have changed over time. Interact with the trend lines to view APY by date.

Forbright Bank

APY

National average APY

How do we get this data?

Date Bankrate gathers rate data either directly from our partners, or through our proprietary rate surveying service. The rate change date is based on when Bankrate received or captured the rate change and may differ from the actual date the rate changed.	Forbright Bank APY APY last updated 7/28/2026. APY last updated 7/28/2026	National average APY The “national average” is determined by Bankrate’s comprehensive national survey of savings accounts and CDs and reflects the monthly average APY for each product.
07/21/2026	3.85%	0.61%
07/15/2026	4.15%	0.61%
06/16/2026	3.85%	0.61%
06/15/2026	4.15%	0.61%
05/05/2026	3.85%	0.61%
04/07/2026	3.85%	0.59%
02/03/2026	3.85%	0.60%
01/09/2026	3.85%	0.62%
01/05/2026	4.00%	0.62%
12/02/2025	4.00%	0.61%
10/14/2025	4.00%	0.62%
10/07/2025	4.25%	0.62%
09/02/2025	4.25%	0.61%
08/05/2025	4.25%	0.58%

Read review

CIT Bank

4.6 Bankrate savings score

Annual percentage yield

4.10%
Min. balance for APY

$5,000
Min. deposit to open

$100

Why CIT Bank?

CIT Bank offers a few savings accounts and CIT Bank’s Platinum Savings account earns the highest yield out of all of them, but only on balances of $5,000 or more. If you have less than that in the account, you’ll earn a paltry rate. The account doesn't charge a monthly maintenance fee.

Pros

No monthly service fee.
Cons

Steep minimum of at least $5,000 to earn a competitive APY.
Bankrate staff members were pleased with their CIT Bank experience. Some standout features include quick transfers between savings and checking accounts, the addition of Zelle and bill pay, a user-friendly app and a high APY.

While there were positive points, there were also some drawbacks. Staffers noted that it can take up to one week for transfers to become available. They also weren’t pleased with the limited app features and hard-to-find disclosures.

See how rates for this account have changed over time. Interact with the trend lines to view APY by date.

CIT Bank

APY

National average APY

How do we get this data?

Date Bankrate gathers rate data either directly from our partners, or through our proprietary rate surveying service. The rate change date is based on when Bankrate received or captured the rate change and may differ from the actual date the rate changed.	CIT Bank APY APY last updated 6/23/2026. APY last updated 6/23/2026	National average APY The “national average” is determined by Bankrate’s comprehensive national survey of savings accounts and CDs and reflects the monthly average APY for each product.
05/15/2026	4.10%	0.61%
04/02/2026	4.10%	0.59%
03/10/2026	4.10%	0.60%
11/20/2025	3.75%	0.62%
11/12/2025	3.85%	0.62%
09/23/2025	3.85%	0.61%
09/02/2025	4.00%	0.61%
08/25/2025	3.90%	0.58%
08/01/2025	4.00%	0.58%

Read review

Happen Bank

4.8 Bankrate savings score

Annual percentage yield

4.00%
Min. balance for APY

$0
Min. deposit to open

$0

Why Happen Bank?

Happen Bank's LevelUp savings account pays a higher yield when you deposit at least $250 monthly into the account, though you’ll still earn a competitive yield if you don't meet this requirement in a given statement period. Unlike many of the other banks on this list, Happen Bank also offers a checking account, which offers 1% cash back on certain debit card purchases and is highly rated by Bankrate.

Pros

Top-tier yield if you can afford to save $250 monthly.
Account comes with an ATM card.
Rewards checking account also available.
Cons

If you miss adding to your savings, you’ll earn a lower APY that month (though still a respectable one).
A Bankrate staff member reported an overall positive experience with their high-yield savings account (HYSA) at LendingCub Bank. Opening an account and connecting it to external accounts in order to move money between them is a breeze, according to our staff member. This, combined with no monthly fee and a low minimum balance, made Happen Bank's HYSA an appealing option.

See how rates for this account have changed over time. Interact with the trend lines to view APY by date.

Happen Bank

APY

National average APY

How do we get this data?

Date Bankrate gathers rate data either directly from our partners, or through our proprietary rate surveying service. The rate change date is based on when Bankrate received or captured the rate change and may differ from the actual date the rate changed.	Happen Bank APY APY last updated 7/29/2026. APY last updated 7/29/2026	National average APY The “national average” is determined by Bankrate’s comprehensive national survey of savings accounts and CDs and reflects the monthly average APY for each product.
06/03/2026	4.00%	0.61%
03/25/2026	4.00%	0.60%
01/20/2026	4.00%	0.62%
12/12/2025	4.00%	0.61%
12/02/2025	4.20%	0.61%
08/07/2025	4.20%	0.58%

Read review

Limelight Bank

4.6 Bankrate savings score

Annual percentage yield

4.00%
Min. balance for APY

$100
Min. deposit to open

$100

Why Limelight Bank?

Limelight Bank, an online-only bank, offers a handful of CDs and one savings account, all of which earn high yields. The bank doesn’t charge a monthly fee but unfortunately, there are very few options when it comes to making deposits: you can transfer money from a linked account, wire money or mail a check. You won't be able to deposit money at a branch, by ATM or using mobile check deposit.

Pros

No monthly fees.
Cons

Limited deposit and withdrawal options.

See how rates for this account have changed over time. Interact with the trend lines to view APY by date.

Limelight Bank

APY

National average APY

How do we get this data?

Date Bankrate gathers rate data either directly from our partners, or through our proprietary rate surveying service. The rate change date is based on when Bankrate received or captured the rate change and may differ from the actual date the rate changed.	Limelight Bank APY APY last updated 7/28/2026. APY last updated 7/28/2026	National average APY The “national average” is determined by Bankrate’s comprehensive national survey of savings accounts and CDs and reflects the monthly average APY for each product.
07/28/2026	4.00%	0.61%
05/05/2026	3.90%	0.61%
04/07/2026	3.90%	0.59%
02/03/2026	3.90%	0.60%
01/13/2026	3.90%	0.62%
01/06/2026	4.00%	0.62%
12/02/2025	4.00%	0.61%
10/07/2025	4.00%	0.62%
09/02/2025	4.00%	0.61%
08/05/2025	4.00%	0.58%

Read review

Vio Bank

4.8 Bankrate savings score

Annual percentage yield

4.00%
Min. balance for APY

$0
Min. deposit to open

$100

Why Vio Bank?

Vio Bank offers only savings products — a savings account, a money market account and some CDs — and many of its rates are strong. With its Online Savings account, you’ll earn a great yield on your whole balance and pay no monthly fees.

Pros

You earn the APY on your whole balance.
No monthly fees.
Cons

You cannot open this account with a trust.

See how rates for this account have changed over time. Interact with the trend lines to view APY by date.

Vio Bank

APY

National average APY

How do we get this data?

Date Bankrate gathers rate data either directly from our partners, or through our proprietary rate surveying service. The rate change date is based on when Bankrate received or captured the rate change and may differ from the actual date the rate changed.	Vio Bank APY APY last updated 7/28/2026. APY last updated 7/28/2026	National average APY The “national average” is determined by Bankrate’s comprehensive national survey of savings accounts and CDs and reflects the monthly average APY for each product.
07/10/2026	4.00%	0.61%
06/05/2026	4.01%	0.61%
05/05/2026	4.03%	0.61%
04/07/2026	4.03%	0.59%
02/13/2026	4.03%	0.60%
02/03/2026	4.02%	0.60%
01/23/2026	4.02%	0.62%
01/06/2026	4.09%	0.62%
12/02/2025	4.16%	0.61%
11/24/2025	4.16%	0.62%
10/30/2025	4.21%	0.62%
10/17/2025	4.26%	0.62%
10/07/2025	4.31%	0.62%
09/02/2025	4.31%	0.61%
08/05/2025	4.31%	0.58%
07/31/2025	4.31%	0.56%

Read review

First National Bank of America

3.9 Bankrate savings score

Annual percentage yield

4.00%
Min. balance for APY

$0
Min. deposit to open

$1,000

Why First National Bank of America?

First National Bank of America maintains three branches in Michigan, although accounts can be opened online by customers across the U.S. Currently, customers who open the High-Yield Savings account can earn a top-notch rate promotional APY for six months — as long as the money they deposit is new to the bank. Otherwise, your account will have a somewhat lower, tiered APY structure based on your balance.

Pros

Highly rated mobile app
Cons

The promotional rate is for new accounts only.
A $10 monthly maintenance fee is charged for accounts with a balance under $1,000.

See how rates for this account have changed over time. Interact with the trend lines to view APY by date.

First National Bank of America

APY

National average APY

How do we get this data?

Date Bankrate gathers rate data either directly from our partners, or through our proprietary rate surveying service. The rate change date is based on when Bankrate received or captured the rate change and may differ from the actual date the rate changed.	First National Bank of America APY APY last updated 7/28/2026. APY last updated 7/28/2026	National average APY The “national average” is determined by Bankrate’s comprehensive national survey of savings accounts and CDs and reflects the monthly average APY for each product.
07/28/2026	4.00%	0.61%
06/23/2026	2.25%	0.61%
06/17/2026	4.00%	0.61%
06/16/2026	2.25%	0.61%
06/11/2026	4.00%	0.61%
06/09/2026	2.25%	0.61%
06/05/2026	4.00%	0.61%
05/05/2026	2.25%	0.61%
04/07/2026	2.25%	0.59%
02/03/2026	2.25%	0.60%
01/06/2026	2.25%	0.62%
12/02/2025	2.25%	0.61%
10/07/2025	2.25%	0.62%
09/30/2025	2.25%	0.61%
09/02/2025	3.25%	0.61%
08/05/2025	3.25%	0.58%

Read review

Bread Savings

4.7 Bankrate savings score

Annual percentage yield

3.95%
Min. balance for APY

$1
Min. deposit to open

$100

Why Bread Savings?

Bread Savings is an online bank that offers a solid high-yield savings account with a $100 minimum opening deposit. There's no monthly fee to have this account. You can also open CDs with Bread Savings, many of which earn great rates.

Pros

No monthly maintenance fees.
Cons

A paper statement will cost you $5 per request.
A Bankrate staff member reported that opening a Bread Savings account was easy, taking them less than 10 minutes. The main reason for opening the account was the high annual percentage yield (APY) and no fees for withdrawals. While making their initial deposit while opening the account was easy, the staff member reported making additional deposits was difficult, requiring them to log into various bank accounts multiple times.

See how rates for this account have changed over time. Interact with the trend lines to view APY by date.

Bread Savings

APY

National average APY

How do we get this data?

Date Bankrate gathers rate data either directly from our partners, or through our proprietary rate surveying service. The rate change date is based on when Bankrate received or captured the rate change and may differ from the actual date the rate changed.	Bread Savings APY APY last updated 7/21/2026. APY last updated 7/21/2026	National average APY The “national average” is determined by Bankrate’s comprehensive national survey of savings accounts and CDs and reflects the monthly average APY for each product.
07/01/2026	3.95%	0.61%
06/30/2026	4.00%	0.61%
06/23/2026	3.95%	0.61%
05/05/2026	4.00%	0.61%
04/07/2026	4.00%	0.59%
02/03/2026	4.00%	0.60%
01/20/2026	4.00%	0.62%
01/06/2026	4.05%	0.62%
12/29/2025	4.05%	0.61%
11/25/2025	4.15%	0.62%
10/21/2025	4.20%	0.62%
10/07/2025	4.25%	0.62%
09/02/2025	4.25%	0.61%
08/04/2025	4.25%	0.58%

Read review

EverBank

4.9 Bankrate savings score

Annual percentage yield

3.90%
Min. balance for APY

$0
Min. deposit to open

$0

Why EverBank?

The EverBank Performance® Savings account earns a competitive rate. There’s no minimum deposit required to open the account or any minimum to earn the APY. If you'd like to keep your savings account in the same place as your checking, EverBank could be right for you. In addition to a good savings account, EverBank also has a checking account that’s highly rated by Bankrate and earns some interest.

Pros

High yield on all balances.
No monthly maintenance fee.
No minimum opening balance requirement.
Full-service bank with checking, money market account and CDs available.
Cons

Customer service hours are limited on weekends, with no availability on Sundays.
Switching from an account earning a nominal yield, a Bankrate staff member opened an EverBank Performance Savings account for its stellar annual percentage yield (APY) and lack of fees. “We have a big chunk of money in savings because we hope to buy a house once mortgage rates drop,” said the staff member. “But we want that money to be earning money for us, instead of sitting there losing value due to inflation.”

See how rates for this account have changed over time. Interact with the trend lines to view APY by date.

EverBank

APY

National average APY

How do we get this data?

Date Bankrate gathers rate data either directly from our partners, or through our proprietary rate surveying service. The rate change date is based on when Bankrate received or captured the rate change and may differ from the actual date the rate changed.	EverBank APY APY last updated 7/24/2026. APY last updated 7/24/2026	National average APY The “national average” is determined by Bankrate’s comprehensive national survey of savings accounts and CDs and reflects the monthly average APY for each product.
05/01/2026	3.90%	0.61%
04/03/2026	3.90%	0.59%
02/06/2026	3.90%	0.60%
01/05/2026	3.90%	0.62%
12/26/2025	3.90%	0.61%
12/01/2025	4.05%	0.61%
10/03/2025	4.05%	0.62%
09/19/2025	4.05%	0.61%
09/05/2025	4.30%	0.61%
08/01/2025	4.30%	0.58%

Read review

Popular Direct

4.4 Bankrate savings score

Annual percentage yield

3.90%
Min. balance for APY

$0
Min. deposit to open

$100

Why Popular Direct?

Popular Direct’s Exclusive Savings account earns an attractive rate and requires a $100 minimum opening deposit. There's no monthly service fee although you'll be charged a $25 fee if you close the account within 180 days of opening it.

Pros

No monthly service fee.
Cons

Accounts closed within 180 days are charged a $25 fee.

See how rates for this account have changed over time. Interact with the trend lines to view APY by date.

Popular Direct

APY

National average APY

How do we get this data?

Date Bankrate gathers rate data either directly from our partners, or through our proprietary rate surveying service. The rate change date is based on when Bankrate received or captured the rate change and may differ from the actual date the rate changed.	Popular Direct APY APY last updated 7/28/2026. APY last updated 7/28/2026	National average APY The “national average” is determined by Bankrate’s comprehensive national survey of savings accounts and CDs and reflects the monthly average APY for each product.
05/05/2026	3.90%	0.61%
04/07/2026	3.90%	0.59%
02/03/2026	3.90%	0.60%
01/07/2026	3.90%	0.62%
12/15/2025	3.90%	0.61%
12/02/2025	4.00%	0.61%
11/05/2025	4.00%	0.62%
10/07/2025	4.05%	0.62%
09/02/2025	4.10%	0.61%
08/26/2025	4.10%	0.58%
08/14/2025	4.05%	0.58%

Read review

Zynlo Bank

5.0 Bankrate savings score

Annual percentage yield

3.85%
Min. balance for APY

$0
Min. deposit to open

$0

Why Zynlo Bank?

ZYNLO Bank is the online division of FDIC-insured PeoplesBank. Its Tomorrow Savings account earns a top-notch yield and doesn’t charge fees or require a set minimum balance. When savings account holders link a ZYNLO checking account, ZYNLO gives them the option to round up their debit purchases to the nearest dollar and then transfers that amount to savings. ZYNLO will match your round-ups, with the amount matched based on your balance after the first 100 days.

Pros

No monthly fees.
No minimum balance.
Round-up savings feature available as long as you also open a checking account with ZYNLO.
Cons

A ZYNLO checking account is required to take advantage of the round-up feature.

See how rates for this account have changed over time. Interact with the trend lines to view APY by date.

Zynlo Bank

APY

National average APY

How do we get this data?

Date Bankrate gathers rate data either directly from our partners, or through our proprietary rate surveying service. The rate change date is based on when Bankrate received or captured the rate change and may differ from the actual date the rate changed.	Zynlo Bank APY APY last updated 7/28/2026. APY last updated 7/28/2026	National average APY The “national average” is determined by Bankrate’s comprehensive national survey of savings accounts and CDs and reflects the monthly average APY for each product.
05/05/2026	3.85%	0.61%
04/14/2026	3.85%	0.59%
02/04/2026	3.85%	0.60%
01/07/2026	3.85%	0.62%
12/31/2025	3.85%	0.61%
12/09/2025	4.05%	0.61%
11/25/2025	4.05%	0.62%
10/14/2025	4.20%	0.62%
09/02/2025	4.35%	0.61%
08/13/2025	4.35%	0.58%

Read review

Colorado Federal Savings Bank

4.5 Bankrate savings score

Annual percentage yield

3.85%
Min. balance for APY

$1
Min. deposit to open

$1

Why Colorado Federal Savings Bank?

Colorado Federal’s High Yield Savings account pays a solid rate and only requires a $1 minimum balance. But note that you’ll only be allowed six withdrawals per month, a restriction that's not common among competitors. Anything over that will cost you $25 each time.

Pros

No monthly fee.
Cons

A steep $25 fee for going over the withdrawal limit of six withdrawals per month.

See how rates for this account have changed over time. Interact with the trend lines to view APY by date.

Colorado Federal Savings Bank

APY

National average APY

How do we get this data?

Rate trends for savings accounts

Savings account rates have been declining in recent years — in response to six Federal Reserve rate cuts in 2024 and 2025. The Fed has kept rates steady so far in 2026 and competitive savings rates have also continued to stay about the same.

But even some competitive rates may not be beating inflation anymore. The Consumer Price Index (CPI; a common and closely followed gauge of inflation) was reported as 3.5% on an annual basis for June — up significantly from 2.4% for February. That means if your savings APY is earning less than that, you are technically losing some purchasing power.

It's not just inflation working against savers — it's where they keep their money. Many of the nation's largest brick-and-mortar banks pay just 0.01% APY on their standard savings accounts. That translates to only $1 in interest per year on a $10,000 balance. Meanwhile, online-only banks — with far lower overhead than big banks with branches — sometimes offer APYs up to 400 times greater.

Whether or not your APY is outpacing inflation, keeping your money in a bank that’s paying a competitive rate helps you grow your savings more quickly.

Learn more: Savings account rate forecast for 2026

It's especially a good time to open a high-yield savings account if:

You’re not earning any interest — or you’re earning a low APY — in your current bank account.
You don’t have an emergency fund, or you have your emergency fund commingled with your checking account.
You're saving for a major medium- or short-term goal, such as a vacation, wedding or home down payment.

The competition: Other high-yield savings accounts you can consider

It’s worth noting that typically, the country’s largest brick-and-mortar banks don’t make Bankrate’s top list — their savings account APYs sit at 0.01%, which is a fraction of what’s available elsewhere. That said, various high-earning accounts didn’t land on our list, yet they might work for you. Here are some strong options to consider:


Axos Bank	Axos Bank offers 4.21% APY for its ONE Savings account with no initial deposit minimums, fees or balance requirements. It’s not on our list because you have to bundle this account with Axos’ checking account. Axos also has an account that pays 3.75% with no bundling requirement.
Credit One Bank	Credit One Bank's Jumbo High Yield Savings Account earns 4.00% APY — but you'll have to deposit a whopping $100,000 to open the account and earn that APY.
SoFi Bank	By meeting some requirements, you can earn a 3.10% APY here — or up to 3.80% if you earn the bonus boost. Plus, you’ll automatically get a connected checking account that also earns interest, and you can organize your savings into “vaults.”
Varo Bank	You can earn 3.75% APY on up to $5,000 in your Varo savings account (but you have to meet requirements to get that rate).

How to choose a high-yield savings account

When shopping around for the right account, take a look at Bankrate’s expert reviews of popular banks, many of which offer competitive rates. Also consider these important features when choosing the best high-yield savings account:

A competitive yield

Your savings will grow more quickly when you're earning higher interest. It's easy to assume your money is earning something reasonable if it's parked at a big, familiar bank — but these often pay just 0.01% APY on standard savings, well below the national average of 0.63%. Meanwhile, competitive accounts are earning up to around 400 times what the biggest banks pay. The difference between a high APY and a near-zero one could add up to hundreds, if not thousands, in interest over time.
No monthly service fee

Rather than letting a monthly service fee eat into your savings, find an account that won’t charge this pesky fee. The options on Bankrate’s list typically don’t charge such a fee.
Access to your money when you need it

Being able to withdraw your money easily is important, especially in an emergency. You may be able to take money out of your savings account at an ATM, using a peer-to-peer money transfer app or through an ACH transfer. You may also want to seek banks that allow unlimited withdrawals each month, rather than restricting you to six.

Learn more: How small savings can add up to big money

Ways to use a high-yield savings account

A high-yield savings account provides easy access to your cash, making it a good place to earn some interest while you build up an emergency fund or save for goals such as a wedding or down payment on a house. While you’re adding to your savings, consider using the interest you earn to pay for discretionary expenses such as a streaming service or a gym membership.

If you’re saving for multiple goals in a single account, it can pay to choose an account that allows you to separate the funds into categories. This way, it’s easy to track how much you have saved for each goal. For instance, Ally Bank lets you create up to 30 savings "buckets."

One way to grow your nest egg is by setting up recurring automatic transfers. Moving a set amount from your checking to your savings every payday helps ensure you’ll save consistently and reach your goals.

Frequently asked questions about savings accounts

High-yield savings accounts are safe if they’re offered from a bank that’s insured by the Federal Deposit Insurance Corp. (FDIC) or a credit union that’s a member of the National Credit Union Administration (NCUA). This way, your money won’t be lost if the financial institution fails.

At both banks and credit unions, federal deposit insurance limits are $250,000 per depositor, per insured institution, per ownership category.
Large brick-and-mortar banks carry the cost of maintaining branch networks, ATMs and in-person staff — expenses online-only banks don't have. Many big banks also count on inertia; customers who've banked there for years and don't shop around tend to stay, regardless of the rate. Online banks, by contrast, compete almost entirely on rate and low fees to win new customers, which is why they can afford to pay several times the national average.
If you’re unsuccessful in opening a new account, you might want to go to ChexSystems’ website and request a report to see whether your banking history is the reason you were denied the account.

ChexSystems is a national specialty consumer reporting agency that keeps track of some of your banking history. Things that can appear on a ChexSystems report include your check-cashing history, any suspected fraudulent activity and a list of closed accounts.
CDs generally earn a fixed APY for a set period of time. In exchange for the guaranteed return, you agree to leave your money locked away for the chosen term. With high-yield savings accounts, you deal with variable APYs in exchange for being able to withdraw your money at any time. This makes a high-yield savings account a better place for your emergency fund or other money you may need in the near term.

Next steps

Calculate your savings

Estimate how much your money could grow with a high-yield savings account.

Plan for emergencies

Read about the best places to keep your emergency fund.

Create a savings strategy

Determine the best amount to save every month.

Average savings account rates

Stay up to date on how your savings yield compares to the national average.

Meet our Bankrate experts

Written by

Karen Bennett Karen Bennett

Consumer Banking Reporter

Research methodology

Bankrate researches over 100 banks and credit unions, including some of the largest financial institutions, online-only banks, regional banks and credit unions with both open and restrictive membership policies.

To find the best high-yield savings accounts, we rated these institutions on their savings account’s APYs, monthly fees, minimum deposit requirements, access to funds and more.

The highest-rated savings accounts from broadly-available banks and credit unions, that also had the highest APYs, made our list. Learn more about how we choose the best banking products and our methodology for reviewing banks.

Alliant Credit Union, Ally Bank, Alto, America First Credit Union, American Express National Bank, Axos Bank, Banesco USA, Bank of America, Bank5 Connect, BankUnited Direct, Barclays Bank, Bask Bank, BMO Bank, Boeing Employees’ Credit Union, Bread Savings, BrioDirect, BTG Pactual, Capital One, Cash App, CFG Bank, Charles Schwab Bank, Chase Bank, CIBC Bank USA, CIT Bank, Citibank, Citizens Access, Citizens Bank, Colorado Federal Savings Bank, Connexus Credit Union, Credit One Bank, Customers Bank, Discover Bank, E*TRADE from Morgan Stanley, Emigrant Bank, EverBank, Fifth Third Bank, First Citizens Bank, First Internet Bank, First National Bank of America, First Tech Credit Union, FNBO Direct, Forbright Bank, FourLeaf Federal Credit Union, Golden 1 Credit Union, Happen Bank, Huntington National Bank, Jenius Bank, KeyBank, Lake Michigan Credit Union, Limelight Bank, Live Oak Bank, M&T Bank, Marcus by Goldman Sachs, Mountain America Credit Union, MySavingsDirect, Navy Federal Credit Union, NBKC Bank, North American Savings Bank, Openbank, Patelco Credit Union, Peak Bank, Pentagon Federal Credit Union, PNC Bank, Popular Direct, Quontic Bank, Quorum Federal Credit Union, Regions Bank, Rising Bank, Salem Five Direct, Sallie Mae Bank, Santander Bank, SchoolsFirst Federal Credit Union, Security Service Federal Credit Union, SoFi, State Employees' Credit Union, Suncoast Credit Union, Synchrony Bank, TAB Bank, TD Bank, Texas Capital Bank, The Federal Savings Bank, Third Federal Savings and Loan, Truist Bank, UFB Direct, US Bank, USAA Bank, Valley Bank, Varo Bank, Vio Bank, Wells Fargo, Western State Bank, Zions Bank, ZYNLO Bank

Best high-yield savings accounts of July 2026 (Up to 4.15%)

Only the top 10% of banks make this list

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Best high-yield savings accounts for July 2026

Forbright Bank

Annual percentage yield

Min. balance for APY

Min. deposit to open

Why Forbright Bank?

Pros and cons

Rate history for Forbright Bank's savings account

CIT Bank

Annual percentage yield

Min. balance for APY

Min. deposit to open

Why CIT Bank?

Pros and cons

Our experience with CIT Bank's savings account

Rate history for CIT Bank's savings account

Happen Bank

Annual percentage yield

Min. balance for APY

Min. deposit to open

Why Happen Bank?

Pros and cons

Our experience with Happen Bank's savings account

Rate history for Happen Bank's savings account

Limelight Bank

Annual percentage yield

Min. balance for APY

Min. deposit to open

Why Limelight Bank?

Pros and cons

Rate history for Limelight Bank's savings account

Vio Bank

Annual percentage yield

Min. balance for APY

Min. deposit to open

Why Vio Bank?

Pros and cons

Rate history for Vio Bank's savings account

First National Bank of America

Annual percentage yield

Min. balance for APY

Min. deposit to open

Why First National Bank of America?

Pros and cons

Rate history for First National Bank of America's savings account

Bread Savings

Annual percentage yield

Min. balance for APY

Min. deposit to open

Why Bread Savings?

Pros and cons

Our experience with Bread Savings's savings account

Rate history for Bread Savings's savings account

EverBank

Annual percentage yield

Min. balance for APY

Min. deposit to open

Why EverBank?

Pros and cons

Our experience with EverBank's savings account

Rate history for EverBank's savings account

Popular Direct

Annual percentage yield

Min. balance for APY

Min. deposit to open

Why Popular Direct?

Pros and cons

Rate history for Popular Direct's savings account

Zynlo Bank

Annual percentage yield

Min. balance for APY

Min. deposit to open

Why Zynlo Bank?