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Best Banks for High-Yield Savings Accounts

High-yield savings accounts, or HYSAs, offer annual percentage yields (APYs) that are much higher than traditional savings accounts. But those APYs are also variable and can change at any time.
Methodology: Money collected data from roughly 60 HYSAs offered by some of the largest and most popular commercial banks, credit unions and online banks. While APY was the main factor considered, we also reviewed minimum opening balances, fees and more.
Criteria: Some banks have high opening balance requirements or may require you to keep a certain amount in your HYSA to earn the advertised APY. In addition, some banks have tiered rates, with higher balances earning more.

Whether you’re growing your emergency fund, saving for a new car or planning a dream vacation, it’s important to put your money somewhere where it’s easily accessible. But with interest rates so low on traditional savings accounts, you’re not likely to see that money grow much more than you would if you stuck it in a piggy bank.
But high-yield savings accounts (HYSAs) offer annual percentage yields (APYs) that are much higher than traditional savings accounts. Read on for our list of the banks and credit unions offering the best HYSA rates right now, as well as a guide on how these savings accounts work and how to choose the best one for you.
How we chose our top picks
Our editors and writers collected the rates on roughly 60 HYSAs from some of the largest and most popular commercial banks, credit unions and online banks. While APY was the main factor we considered, we also assessed factors such as minimum opening balances and fees. The best banks for high-yield savings accounts are listed below in alphabetical order.
Read the full methodology to learn more.
Our top picks for the best banks for high-yield savings accounts for November 2026

Axos Bank Axos ONE Savings Account
Bread Savings High-Yield Savings Account
BrioDirect High-Yield Savings
EverBank Performance Savings
Forbright Bank Growth Savings
Happen Bank LevelUp Savings
Newtek Bank APY Savings
Openbank High Yield Savings
Pibank Savings
TAB Bank Save High Yield Savings

*Rates and APYs are subject to change. All information provided here is accurate as of Oct. 23, 2026.

HIGHLIGHTS

APY
4.21% on balances up to $249,999.99, 3.5% for balances $250,000 and over

Minimum opening requirement
$250

Minimum balance for advertised APY
Average daily balance of at least $1,500 in an Axos ONE checking account

Axos Bank‘s Axos ONE savings account offers a highly competitive APY on the first $249,999.99, with a still-competitive APY for additional balances above that figure. Customers have access to a fee-free ATM network that includes more than 95,000 locations.
The account does carry a higher-than-average minimum deposit requirement of $250, but there are no monthly maintenance fees, no minimum balance requirements and no overdraft fees. In order to unlock the highest available APY for the savings account, customers must satisfy one of two options: (1) Receive at least $1,500 in total monthly qualifying direct deposits and maintain an average daily balance of at least $1,500 in an Axos ONE checking account, or (2) receive at least $5,000 in total monthly qualifying deposits and maintain an average daily balance of at least $5,000 in an Axos ONE checking account.

HIGHLIGHTS

APY
4.05%

Minimum opening requirement
$100

Minimum balance for advertised APY
$100

With Bread Savings, you can earn a highly competitive APY on a wide range of balances with a $100 minimum deposit on up to a balance of $1 million. While there are no physical branches for this online-only bank, you can get customer service by phone seven days of the week.
There are no ATM or debit cards, but Bread Savings’ high-yield accounts do not charge monthly maintenance fees and feature free incoming wire transfers and unlimited mobile check deposits. There is a $5 for paper statements, but online statements are available for download at no cost.

HIGHLIGHTS

APY
3.75%

Minimum opening requirement
$5,000

Minimum balance for advertised APY
$25

BrioDirect offers one of the highest-earning HYSAs on our list with a minimum deposit of $5,000 and a minimum balance of $25 to earn the top APY. The account, which is offered by a brand from the longstanding, Connecticut-based Webster Bank, is an ideal instrument for making the most of your savings. Its high-yield savings account boasts a strong APY and no monthly maintenance fees. Additionally, there are no limits on how many withdrawals you can make.
You can fund your account via transfer from an external bank; BrioDirect allows customers to link up to five accounts at one time. One big change since last year is that the online bank now offers mobile check deposits via its app. While there are no physical branches for in-person deposits, BrioDirect accepts checks for deposit by mail, as well as wire transfers.

HIGHLIGHTS

APY
4.2%

Minimum opening requirement
$0

Minimum balance for advertised APY
$0

EverBank’s Performance Savings account doesn’t offer one of the highest APYs on our list of Best Banks for High-Yield Savings Accounts, but the APY for its HYSA is still strong and will handily outperform those offered by traditional savings accounts. The account doesn’t require a minimum balance, doesn’t charge monthly maintenance fees and interest is compounded daily.
Unlike many of our top picks, EverBank does have brick-and-mortar branches, although they are only in Florida, California and New York. Unlike some online banks that offer customer service seven days a week, EverBank doesn’t have service hours on Sundays, and its Performance Savings account is only available online or via phone.

HIGHLIGHTS

APY
3.85%

Minimum opening requirement
$0

Minimum balance for advertised APY
$0

Forbright Bank’s Growth Savings account offers a highly competitive APY on all balances that is nine times the national average savings rate. It doesn’t require a minimum opening deposit or a minimum balance requirement. The account also doesn’t charge monthly maintenance fees, has no hidden fees and interest is compounded daily.
If you’re looking for human interaction, however, you’ll want to look elsewhere. While Forbright has branches in Maryland and Virginia, the HYSA is a digital-only product.

HIGHLIGHTS

APY
4.2%

Minimum opening requirement
$0

Minimum balance for advertised APY
$0

Happen Bank, formerly LendingClub, may be best known for its personal loan offerings, but it also offers a highly competitive APY for its HYSA product. However, that advertised APY is only applicable if you meet the requirement of depositing at least $250 per month into your LevelUp Savings account. The account doesn’t charge monthly maintenance fees, nor does it require a minimum opening deposit or a minimum account balance.
The bank still offers a competitive standard APY if you’re unable to meet the $250 monthly deposit requirement. However, that APY is not among the best HYSA rates available today. On the plus side, the account comes with a free ATM card.

HIGHLIGHTS

APY
4.2%

Minimum opening requirement
$100

Minimum balance for advertised APY
$0

Newtek Bank may focus on business banking, but it also has an HYSA that offers a very competitive APY. Additionally, the bank doesn’t have minimum opening or minimum balance requirements, and the account provides interest at a rate 11 times the national average.
The federal government no longer requires banks to limit withdrawals from savings accounts to six per month, but some banks still do. Newtek is one of them. Plus, you cannot withdraw to multiple other banking or investment accounts; you can only withdraw to the original funding source. So overall, the withdrawal options are limited.
One caveat to note: As of October 2026, Newtek has paused new applications for the account amid strong demand and moved to a waitlist, onboarding customers in batches. If you’re interested, you’ll likely need to join the waitlist and wait for an email when new slots open rather than opening an account on the spot.

HIGHLIGHTS

APY
4.35% (inclusive of 0.35% APY boost)**

Minimum opening requirement
$500

Minimum balance for advertised APY
$500

Openbank currently offers an APY that is nine times the national average. That applies to all balance tiers with its HYSAs, and the accounts are fee-free. While you will need to open the account with at least $500, the bank claims on its website that you can get started in just five minutes.
As an online brand of Santander Bank, customers will not be able to visit a physical branch. However, Openbank does have a “click-to-call” feature for when you need to speak to a human. There are no debit cards or checks available with this account.
The introductory promotional APY Boost includes a 0.35% APY boost (“APY boost”) added to the account’s current variable APY (“standard variable APY”) of 4.00%. The APY Boost will apply for (6) months from the date the account is opened (“Promotional Period”). The standard variable APY for your account remains variable and subject to change at Openbank’s discretion at any time and any frequency without notice. If the standard variable APY changes during the Promotional Period, the APY boost will continue to apply through the end of the Promotional Period, subject to applicable terms. After the Promotional Period ends, the account will earn the standard variable APY in effect at that time without the APY Boost.
**This is a limited time offer, effective as 12:01 am Eastern time 10/14/2026. To qualify for the APY boost, an eligible account must be opened while the offer is available. All applications are subject to approval. Completing and submitting an application does not, by itself, establish an account. The introductory promotional APY boost is valid for new Openbank customers. If your account is determined to be ineligible, Openbank reserves the right to terminate the APY Boost at any time without notice, and the account will then earn the standard variable APY in effect at that time. Existing accounts opened prior to 09/23/2026, are not eligible for the APY Boost and will continue to earn the standard variable APY. The APY Boost promotion may not be combined with other bonus offers by Santander Bank. Additional terms, conditions, and eligibility requirements may apply.
**Openbank reserves the right to modify, suspend, or terminate the APY Boost at any time without notice.
Other Terms & Conditions: This offer is available only when stated on the Openbank High Yield Savings page

HIGHLIGHTS

APY
4.4%

Minimum opening requirement
$0

Minimum balance for advertised APY
$1

Pibank stands out for its high-yield savings that offers a top-tier APY that applies to customers’ entire balances. There is no minimum opening requirement and no fees, and the account can be accessed anywhere via a mobile app.
Despite its stand-out APY offering, Pibank’s savings account is wire-transfer only — it does not support ACH or Zelle. But that is a convenience tradeoff for those looking for one of the most competitive APYs on the market today.

HIGHLIGHTS

APY
3.95%

Minimum opening requirement
$0

Minimum balance for advertised APY
$0.01

TAB Bank offers a HYSA with an attractive APY that is nine times the national average. There is no minimum opening requirement and the minimum balance to receive the advertised APY is just 1 cent. The account doesn’t charge monthly maintenance fees and there are no balance caps.
If you’re looking for a bank that offers both a savings and checking account, TAB may be a good option for that, too, since its TAB Spend Rewards Checking account is interest-bearing and also doesn’t charge maintenance fees. The bank offers limited customer service hours on weekends, with service only available 9 a.m. to 3 p.m Mountain Time Saturday and not at all on Sunday.

Other HYSAs we considered
We assessed many HYSAs that ultimately did not make our list. Below are several companies that were not named on our list but have attractive APYs and may be a fit depending on your needs.
SoFi
SoFi’s HYSA has a competitive rate up to 4.4% APY for up to six months with SoFi’s +1.1% Boost⁸ on new accounts with eligible Direct Deposit. There is no monthly maintenance fee or minimum balance. The online bank offers a hybrid savings and checking account option, so when you open a SoFi savings account, it will automatically open a checking account in your name. SoFi’s account is a solid option for savers, but its advertised APY is only good for up to six months, which then reverts to 3.30% APY.
⁸1.1% Savings APY Boost
Earn up to 4.2% Annual Percentage Yield (APY) on one SoFi Savings account with a 1.1% APY Boost (added to the 3.3% APY as of Oct. 23, 2026) for up to six months. Open your first SoFi Checking and Savings account and receive eligible direct deposits OR qualifying deposits of $5,000 every 31 days by Dec. 31, 2026. Rates are variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.
Bask Bank
Bask Bank offers an HYSA with a competitive APY and no minimum balance requirement or monthly fees. There’s also no minimum to open the account, though you’ll need to fund the account within 15 days or it will be closed. However, once the bank’s promotional period of up to six months ends, the APY on its Interest Savings account is below most of the banks chosen for Money’s list.
CIT Bank
CIT Bank’s Platinum Savings account has no monthly maintenance fee and competitive 3.75% APY for its HYSA. However, that APY only applies to balances of at least $5,000. Balances below that earn a significantly lower APY of 0.25%.

Best HYSA rates FAQs
What is a high-yield savings account?
A HYSA is a type of savings account that offers higher interest on your cash than its traditional counterparts.
Are high-yield savings accounts safe?
HYSA banks insured by the Federal Deposit Insurance Corporation and credit unions insured by the National Credit Union Administration protect your money up to $250,000 per depositor per ownership category should the financial firm collapse.
What is a good APY for a high-yield savings account?
The best APYs for high-yield savings accounts are generally higher than the Federal Reserve’s benchmark effective federal funds rate (EFFR). According to the Federal Reserve Bank of St. Louis, the EFFR is 3.88% as of Oct. 23.
Which banks offer the highest HYSA interest rates?
The highest HYSA rates are typically offered by online banks and credit unions, which have lower overhead costs than traditional brick-and-mortar banks with branch networks. That allows them to pass on those savings to customers in the form of higher APYs.

How we chose the best banks for high-yield savings accounts
To find the best HYSAs, Money collected rates from around 50 of the largest and most popular banks, credit unions and online banks. We not only compared the advertised APY but also how much of your balance that APY would apply to. For example, there were some institutions with APYs higher than what we included on our list, but that only applied that yield to the first $1,000. We also excluded some credit unions with limited eligibility. We only included HYSAs that came with no monthly maintenance fees.
While APYs were our main focus, we also collected information on the accounts’ minimum opening deposits, minimum balances required to earn the advertised APY and fees. All of the banks we included are FDIC-insured. AI was not used in the sourcing of Best Banks’ data, the analysis of that data or the content subsequently produced by Money’s editorial team. You can read our full methodology here.
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