Key takeaways
High-yield savings accounts offer a higher annual percentage yield (APY) than traditional savings accounts, helping your money grow faster.
For many, the best high-yield savings accounts have no monthly fees, low or no minimum balance requirements, and user-friendly apps to manage your money.
Some of the best high-yield savings accounts for 2026 include Chime®, EverBank®, CIT Bank®, Happen Bank, Forbright®, and Capital One®.
If your savings account has a low interest rate, you could be missing out on hundreds of dollars each year. A high-yield savings account (HYSA) can help you earn significantly more on your balance without taking on stock market risk. We've compared six of the best high-yield savings accounts for 2026 so you can find the right fit for your goals.
How we chose the best high-yield savings accounts
No single high-yield savings account is the best choice for everyone. Different accounts stand out for different needs, whether that’s earning a competitive APY, avoiding balance requirements, automating your savings, or having access to in-person banking. We evaluated each account using publicly available information and compared the features many feel matter most when choosing a high-yield savings account.
Our review focused on:
APY: The interest rate available on savings and any requirements you need to meet to earn the highest advertised APY.
Fees: Monthly maintenance fees and other account costs that could reduce your savings earnings.
Minimum balance and deposit requirements: How much you need to open the account, earn interest, or qualify for the highest APY.
Compounding frequency: Whether interest compounds daily or monthly, which can affect how quickly your savings grow.
Savings features: Automated transfers, round-ups, savings goals, and other tools that can make it easier to build your balance.
Account access: Mobile and online banking capabilities, along with the availability of physical branches for people who prefer in-person service.
Deposit insurance: Whether eligible deposits are covered by FDIC insurance, either directly through an FDIC-insured bank or through applicable partner banks.
Rather than ranking these accounts solely by the highest advertised APY, we highlight the strengths and requirements of each one so you can choose the high-yield savings account that best fits your balance, savings habits, and financial goals.
6 best high-yield savings accounts for 2026
The best high-yield savings accounts combine strong APY rates with low fees and useful features. In 2026, several accounts stand out for offering competitive returns with minimal requirements.
Here are the six accounts worth considering, along with a breakdown of what each one offers.
1. Chime® High-Yield Savings Account
The Chime Savings account has no monthly service fees and no minimum balance requirement to open, (see disclosure 1) and you can start earning interest immediately. You’ll need a Chime® Checking Account to open a savings account. (see disclosure 2)
With Chime Prime™ membership, you can earn 4.00% APY (see disclosure 3) on your savings when you receive at least $3,000 in qualifying direct deposits per month. Chime Plus™ members with at least one qualifying direct deposit of $200 or a total of $400 or more per month can earn 3.00% APY. Standard members earn 1.00% APY.
Chime offers two automated savings features: Round Ups and Save When I Get Paid. Round Ups (see disclosure 4) automatically rounds up your debit card purchases to the nearest dollar and transfers the spare change to savings. Save When I Get Paid (see disclosure 4) lets you automatically move a portion of each direct deposit into savings. You can also set up to 10 personalized savings goals to stay motivated.
Interest compounds daily and is paid monthly, helping your balance grow faster. There are no monthly fees, no minimum balance requirements, and no subscription costs. (see disclosure 1) You just need to maintain qualifying direct deposits to unlock the higher APY tiers.
Pros | Cons |
Up to 4.00% APY (see disclosure 3) with Chime Prime™ | Requires a Chime Checking Account |
No monthly fees or minimum balance requirements (see disclosure 1) | Higher APY tiers require qualifying direct deposits |
Automated savings tools | No physical branch locations |
Daily compounding interest |
Who should consider this account?
Chime can be a great fit if you receive regular direct deposits and want to automate your savings. The APY you earn depends on your Chime membership tier, which is based on qualifying direct deposits. If you value a mobile-first experience with tools designed to help you save effortlessly, Chime may be worth considering.
2. EverBank® Performance™ Savings
The EverBank Performance Savings account has no monthly fees and offers a 3.90% APY with no minimum balance requirement to earn the maximum interest rate. (see disclosure 5)
EverBank has limited brick-and-mortar locations, mainly within Florida, with additional locations in California and New York. (see disclosure 6) If you live outside those states, you can still access the account's features through the app.
Pros | Cons |
3.90% APY (see disclosure 5) | No physical locations outside Florida, New York, and California (see disclosure 6) |
No monthly fees or minimum balance requirements | |
Interest compounded daily |
Who should consider this account?
EverBank can be a strong option if you want a high APY with no minimum balance requirement and no monthly fees.
3. CIT Bank® Platinum Savings
With the CIT Bank Platinum Savings account, you can earn up to 3.75% APY if you maintain a $5,000 minimum balance. If your balance falls below $5,000, you'll earn 0.25% APY instead. (see disclosure 7) Interest is compounded daily, which can increase your earning potential over time.
CIT Bank doesn't charge any monthly fees, though it does require a $100 minimum deposit to open an account.
Pros | Cons |
Up to 3.75% APY (see disclosure 7) | $100 minimum opening deposit |
No monthly fees | $5,000 balance required to earn max APY |
Interest compounded daily | No brick-and-mortar locations |
Who should consider this account?
CIT Bank Platinum Savings can be a decent choice if you already have $5,000 or more set aside and want to earn a competitive rate without monthly fees.
4. Happen Bank® LevelUp Savings
Happen Bank® offers a strong APY with its LevelUp Savings account. You can earn 4.00% APY when you deposit at least $250 per month – or 3.00% APY without the monthly deposit requirement. There are no monthly fees and no minimum balance to open or maintain your account.
Interest compounds daily, helping your savings grow steadily over time. Happen Bank is an online-only financial institution, so you manage everything through their website or mobile app. (see disclosure 8)
Pros | Cons |
Up to 4.00% APY with qualifying deposits (see disclosure 8) | LevelUp rate requires $250+ monthly deposits |
No monthly fees or minimum balance requirements | Online-only with no branch access |
Interest compounded daily |
Who should consider this account?
Consider looking into the Happen Bank LevelUp Savings account if you plan to make monthly deposits of $250 or more and want to earn a top-tier rate.
5. Forbright Bank Growth Savings
Forbright Bank offers a 4.15% APY with no minimum opening deposit requirement. Interest is compounded daily, and there are no monthly fees. (see disclosure 9)
Forbright is also a partner of the National Park Foundation, helping fund the foundation's mission to expand protection of America's park lands. Through this partnership, Forbright invests in solar installations, green building upgrades, and accessible healthcare. (see disclosure 10)
The Growth Savings account is a digital-only product, and Forbright doesn't offer a digital checking account. If you live in the Washington, D.C. area, you can open a checking and money market account at a bank branch. (see disclosure 11)
Pros | Cons |
4.15% APY with no conditions (see disclosure 9) | No brick-and-mortar locations outside Washington, D.C. area |
No monthly fees or minimum balance requirements | No digital checking account |
Conservation cause |
Who should consider this account?
Forbright can be a good option if you want a competitive rate with no strings attached. It may also appeal to you if you want to support a financial institution that invests in America's public lands through a partnership with the National Park Foundation.
6. Capital One® 360 Performance® Savings
With the Capital One 360 Performance Savings account, you can earn 3.00% APY with no monthly maintenance fees. (see disclosure 12) There's no minimum balance requirement, so you can earn interest regardless of your balance. However, interest is compounded monthly rather than daily, which could limit your total earnings over time.
Pros | Cons |
3.00% APY (see disclosure 12) | No ATM card for savings accounts |
No monthly fees or minimum balance requirements | Interest compounded monthly |
Who should consider this account?
Consider this account if you want access to free credit monitoring alongside your savings and prefer a well-known financial institution.
How do high-yield savings accounts work?
High-yield savings accounts function the same way as traditional savings accounts, but they offer a much higher APY.
APY, or annual percentage yield, is the total amount of interest you earn on your balance over one year. Here are three important details to know.
A high-yield savings account is a type of savings account that offers a higher annual percentage yield than a traditional savings account.
HYSAs are typically offered by online banks or financial technology companies that do not have brick-and-mortar locations. These companies can often provide higher rates because they save on the costs of maintaining physical branches.
The interest you earn is compounded. You earn a return on both your principal balance and your accumulated interest. This is the power of compound interest. Depending on the account, your interest may compound daily or monthly, and daily compounding can produce a slightly higher return over time.
Want to know more about how to make your money work for you? Discover the key differences between saving and investing to maximize your returns.
How to choose a high-yield savings account
With so many options available, choosing the right high-yield savings account comes down to a few key factors. Here's what to look for when comparing accounts.
APY
The biggest benefit of a high-yield savings account is a higher APY. Traditional savings accounts average 0.07% APY, while HYSAs can offer rates many times higher. That makes them an ideal place to stash your emergency fund or save toward a specific goal.
Keep in mind that APY rates can change based on market conditions. If the Federal Reserve adjusts rates, your HYSA rate may shift as well.
Fee structures
Many high-yield savings accounts have no monthly maintenance fees, but it's worth checking for other potential costs. Some accounts may waive fees only under certain conditions. Look for accounts that let you earn interest without eating into your returns with hidden charges.
Minimum balance requirements
Some accounts require a minimum balance to earn the highest APY. Others let you start earning interest with as little as one cent. Think about how much you can realistically set aside and choose an account that matches your situation.
Compounding frequency
Interest can compound daily or monthly, depending on the account. Daily compounding means you earn interest on yesterday's interest, which can add up over time. If maximizing your return matters to you, look for daily compounding.
Automated savings tools
Many modern financial institutions offer automated features to make it easier for you to save money. Features like automatic transfers, round-up programs, and savings goal trackers can help you build your balance without thinking about it.
FDIC insurance
The Federal Deposit Insurance Corporation provides deposit insurance – a protection for consumers if a bank fails. FDIC insurance generally covers eligible deposits up to $250,000 per depositor, per insured bank, per ownership category. Make sure any account you open carries FDIC coverage.
High-yield savings account rate trends
High-yield savings account rates have shifted in recent years, largely driven by changes in the federal funds rate. When the Federal Reserve raises its benchmark rate, banks and financial technology companies can pass those higher rates on to savers. When rates decline, HYSA yields tend to follow.
In 2026, rates have fallen from recent peaks as the Federal Reserve has adjusted its monetary policy. Many top accounts now offer APYs between 3.00% and 4.10%. While that's lower than the highs some accounts reached in 2023 and 2024, it still represents a significant advantage over traditional savings accounts. According to recent data, average savings balances vary widely by age group, making a high-yield account valuable at any stage.
If you're considering opening a high-yield savings account, keep in mind that rates may continue to fluctuate. Locking in a competitive rate now can still help your savings grow faster than they would in a standard account. Focus on the overall value – including fees, features, and accessibility – rather than chasing the absolute highest APY.
Grow your savings with a high-yield account
A high-yield savings account can help you maximize your return on your money without risking it in the stock market. Whether you're building an emergency fund or saving for a big purchase, the right account can make your progress feel that much faster.
A Chime Savings account offers up to 4.00% APY (see disclosure 3) with Chime Prime™, automated savings features, (see disclosure 5) and no monthly fees (see disclosure 1) – all designed to help you reach your goals.