10 Best High-Yield Savings Accounts Of June 2026: Up to 5.00% APY (original) (raw)
Axos ONE Savings Account
Best for High-Yield Checking and Savings
Up to 4.21%
Rates and details as of 02/02/2026.
Our Expert Review
Our research found that the Axos ONE Savings Account is the best account for high-yield checking and savings, earning a 4.9-star rating from our data team. The Axos One account is a bundled checking and savings account offering highly competitive rates, with no monthly fees or deposit requirements.
To earn the highest APY available, account holders must meet one of the following requirements.
- **Option 1:**Receive at least 1,500intotalmonthlyqualifyingdirectdepositsandmaintainanaveragedailybalanceofatleast1,500 in total monthly qualifying direct deposits and maintain an average daily balance of at least 1,500intotalmonthlyqualifyingdirectdepositsandmaintainanaveragedailybalanceofatleast1,500
- **Option 2:**Receive at least 5,000intotalmonthlyqualifyingdeposits(notdirectdeposits)andmaintainanaveragedailybalanceofatleast5,000 in total monthly qualifying deposits (not direct deposits) and maintain an average daily balance of at least 5,000intotalmonthlyqualifyingdeposits(notdirectdeposits)andmaintainanaveragedailybalanceofatleast5,000
Pros & Cons of Axos ONE Savings Account
| No monthly maintenance fee | No physical locations |
|---|---|
| No minimum deposit requirement | Must meet requirements to earn highest APY |
| 95,000+ fee-free ATMs | |
| 24/7 customer support | |
| $50 referral bonus | |
| Up to $2.5 million in additional FDIC insurance |
Axos ONE Savings Account APY History
See how the APY for this savings account has changed over time. Interact with the trend line to view rates by date.
Best for Avoiding Fees
2.50% or 5.00%
Rates and details as of 4/16/25.
Our Expert Review
Our research found that the Varo Savings Account account is the best high-yield savings account for avoiding fees, earning a 4.8-star rating from our research team. The account has no monthly service, overdraft or minimum balance fees that could offset any interest earned.
The Varo Savings Account, which requires a Varo checking account to open, made our list thanks to its lack of fees and generous APY. With this fee-free account, all balances earn a 2.50% APY. However, account holders who receive at least 1,000indirectdepositeachmonthandmaintainapositivebalanceinboththeirbankandsavingsaccountsqualifyfor5.001,000 in direct deposit each month and maintain a positive balance in both their bank and savings accounts qualify for 5.00% APY on their first 1,000indirectdepositeachmonthandmaintainapositivebalanceinboththeirbankandsavingsaccountsqualifyfor5.005,000.
The account is a solid option for savers looking to avoid fees while earning a competitive yield and who are also in the market for a checking account or are willing to open one.
Pros & Cons of Varo Savings Account
| Competitive APY on savings account | | | ------------------------------------------------------------- | | | No minimum balance required to open an account | | | | Cash deposits available only through third-party retailers | | | Access to Allpoint ATM network | |
Details
- To earn 5.00% APY, customers must receive total direct deposits of 1,000ormorewithineachqualifyingperiodandhaveapositivebalanceinbothsavingsandcheckingaccountsattheendofthecalendarmonth.Allbalancesabove1,000 or more within each qualifying period and have a positive balance in both savings and checking accounts at the end of the calendar month. All balances above 1,000ormorewithineachqualifyingperiodandhaveapositivebalanceinbothsavingsandcheckingaccountsattheendofthecalendarmonth.Allbalancesabove5,000 earn an APY of 2.50%.
- Interest on the Varo Savings Account is compounded daily and credited monthly.
- The account can only be owned by one person, which means there are no joint accounts.
- There are no fees associated with the account, and Varo doesn’t allow for overdrafts. If you request more than you have, Varo will decline the request.
- Varo doesn’t allow for wire transfers.
- You can withdraw your finances with electronic transfers through the app, but ATM access isn’t available.
- In order to take advantage of the automatic savings features (Save Your Change and Save Your Pay), you’ll need to use a Varo Bank account.
Varo Savings Account APY History
See how the APY for this savings account has changed over time. Interact with the trend line to view rates by date.
First Foundation Bank Online Savings
Our Expert Review
Our research found that First Foundation Bank’s Online Savings account is the best high-yield savings account for scoring a competitive APY, earning a 4.8-star rating from our research team. The account earns a competitive APY on all balances and has no monthly maintenance fee to offset any interest you gain.
If you’re looking for a stand-alone savings account that earns an impressive yield, the First Foundation Bank Online Savings account could be the right choice for you.
A minimum deposit of $1,000 is required, however. This relatively high minimum deposit requirement could prevent beginner savers from opening an account.
Pros & Cons of First Foundation Bank Online Savings
| No monthly maintenance fee | | | ---------------------------------------------- | | | | Relatively high minimum deposit requirement | | | ATM card available upon request | |
First Foundation Bank Online Savings APY History
See how the APY for this savings account has changed over time. Interact with the trend line to view rates by date.
American Express® High Yield Savings Account
Best for Digital Experience
3.10%¹
$0 Minimum to earn APY
Rates and details as of 5/19/26.
On American Express National Bank's Website
Member FDIC
Our Expert Review
Our research found that the American Express® High Yield Savings Account is the best high-yield savings account for a good digital experience, earning a 4.7-star rating from our research team. The Amex mobile app is highly rated and offers features including automatic savings, Zelle transfers, personalized alerts, mobile check deposit and chat support.
If you’re looking for a high-yield savings account from one of the nation’s largest financial institutions, this Amex product might be right for you. American Express offers the advantages of a large financial institution, including easy-to-use digital banking features and good customer service. The account charges few fees, and the yield is much higher than that of many national banks. However, the account doesn’t offer ATM access, making it less flexible for savers.
Overall, American Express offers a solid digital banking experience and scores well on independent customer service metrics, making it an ideal fit for someone chiefly concerned with the ease of using an account.
Pros & Cons of American Express® High Yield Savings Account
| No minimum balance requirement | Higher yields available elsewhere |
|---|---|
| No monthly maintenance fees | No check-writing privileges |
| Daily compounding interest |
Details
- You’ll earn Annual Percentage Yield, APY ($0 Minimum to earn APY, rates as of 05/19/2026) on all balances, with interest compounding daily.
- There are no monthly maintenance fees, no minimum deposit requirement and you can open an account with any amount².
- Overdrafts are not allowed, and there’s no fee².
- There’s no access to ATMs or checks, but wire transfers are permitted³.
- There’s no transaction limit.
- You can reach customer service 24/7, including via the mobile app.
Disclosures
¹The Annual Percentage Yield (APY) as advertised is accurate as of 05/19/2026. 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
²There 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
³For purposes of transferring funds to or from an external bank, business days are Monday through Friday, excluding federal holidays. Transfers can be initiated 24/7 via the website or phone, but any transfers initiated after 7:00 PM Eastern Time or on non-business days will begin processing on the next business day. Funds deposited into your account may be subject to holds. See the Funds Availability section of your Consumer Deposit Account Agreement and Savings Schedules for more information.
American Express® High Yield Savings Account APY History
See how the APY for this savings account has changed over time. Interact with the trend line to view rates by date.
Ally Bank Savings Account
Best for Easy-to-Reach Customer Service
3.00%
Rates and details as of 4/22/26.
Our Expert Review
Our research found that the Ally Bank Savings Account is the best high-yield savings account for easy-to-reach customer service, earning a 4.7-star rating from our research team. It offers 24/7 customer service, as well as live chat, making it easy to resolve issues.
Ally Savings is a well-rounded savings account that charges few fees and offers a competitive yield, though it’s outshined by other winners. However, the combination of available customer service, solid yields and low fees (as well as tools to help you meet your savings goals) make it a great option for most savers. Its “buckets” feature can help you save for specific purchases or needs. However, you can’t deposit cash.
Consider this account if you prefer digital banking, prioritize low fees and accessible customer service, and want to earn a solid APY.
Pros & Cons of Ally Bank Savings Account
| No monthly maintenance fee or required minimum deposit | | | ------------------------------------------------------ | | | | | | | | Higher yields available elsewhere | | | | |
Details
- All balances earn 3.00% APY that compounds daily.
- No monthly maintenance fees, required minimums or overdraft charges.
- $20 fee for domestic outgoing wire transfers, no fee for incoming wires.
- Doesn’t come with an ATM card.
- Limited to 10 withdrawals per month, though there are no fees for excess transactions. If you continually go above the limit, though, Ally may close your account.
- 24/7 customer service representatives available by phone, as well as live chat.
Ally Bank Savings Account APY History
See how the APY for this savings account has changed over time. Interact with the trend line to view rates by date.
Sallie Mae High-Yield Savings Account
Best for Beginners
3.75%
Rates and details as of 3/26/26.
Our Expert Review
Our research found that the Sallie Mae High-Yield Savings Account is the best high-yield savings account for beginners, earning a 4.7-star rating from our research team. The account earns a competitive APY and has no monthly fee or minimum deposit requirements, making it a suitable option for both established and beginner savers looking to maximize their funds.
Pros & Cons of Sallie Mae High-Yield Savings Account
| | | | | ------------------------------ | ------------------------------------------- | | No monthly maintenance fee | Customer support only available on weekdays | | No minimum deposit requirement | | | Daily compounding interest | |
Sallie Mae High-Yield Savings Account APY History
See how the APY for this savings account has changed over time. Interact with the trend line to view rates by date.
Sallie Mae Bank SmartyPig Account
Best for Setting Savings Goals
Our Expert Review
Our research found that the Sallie Mae Bank SmartyPig Account is the best high-yield savings account for setting savings goals, earning a 4.6-star rating from our research team. The account, which has no monthly fee or minimum deposit requirement, earns a competitive APY and allows account holders to create custom savings goals, track their progress and turn on automatic transfers.
Pros & Cons of Sallie Mae Bank SmartyPig Account
| | | | ------------------------------ | | | | | No minimum deposit requirement |
Details
- You’ll earn 3.40% APY on all balances, with interest compounding daily.
- There’s no monthly maintenance fee, required minimum deposits or overdraft fees.
- No wire transfers and or access to ATMs.
- No limit on withdrawals.
- Customer service available via phone Monday through Friday, 9 a.m. to 6 p.m. Eastern time.
Sallie Mae Bank SmartyPig Account APY History
See how the APY for this savings account has changed over time. Interact with the trend line to view rates by date.
Capital One 360 Performance Savings Account™
Best for In-Person Banking
3.00%
Rates and details as of 06/02/26.
On Capital One 360’s Website - Member FDIC
Our Expert Review
Our research found that the Capital One 360 Performance Savings Account™ is the best high-yield savings account for in-person banking, earning a 4.5-star rating from our research team. This is the only bank on our list that has hundreds of banking branches, including its cafes, while also offering a competitive yield on its savings products.
Capital One 360 Performance Savings Account™ is an excellent choice if you’re looking for a high-yield savings account with the ability to bank in person while avoiding most fees and minimum requirements.
Pros & Cons of Capital One 360 Performance Savings Account™
| | Higher APYs available elsewhere | | | ------------------------------------------ | -------------------------------------------- | | No minimum deposit or balance requirements | Other national banks have more branches | | 24/7 customer service available by phone | Interest compounds monthly rather than daily | | | |
Details
- You’ll earn 3.00% on all balances and interest compounds monthly.
- There’s no monthly maintenance or overdraft fee, though you’re not allowed to overdraft on your account.
- No minimum balance requirement to open an account or earn interest.
- Outgoing domestic wire transfers cost 30;internationaloutgoingwirescost30; international outgoing wires cost 30;internationaloutgoingwirescost40 and need to be completed at a branch.
- The savings account doesn’t come with an ATM card; you’ll need a checking account, as well.
- You are limited to 6 withdrawals per month. However, that limit is currently not being enforced, according to the account disclosure.
- Customer service available by phone 24/7.
Capital One 360 Performance Savings Account™ APY History
See how the APY for this savings account has changed over time. Interact with the trend line to view rates by date.
Synchrony Bank High Yield Savings
Best for Emergency Funds
3.40%
Rates and details as of 4/21/26.
On Synchrony Bank's Website
Member FDIC
Our Expert Review
Our research found that the Synchrony Bank High Yield Savings is the best high-yield savings account for emergency funds, earning a 4.5-star rating from our research team. Synchrony’s stand-alone savings account earns a competitive interest rate, has few fees or minimums, offers access to ATMs (which not all savings accounts do) and provides robust customer service, making it a solid package for savers looking for a new emergency fund that’s not attached to a checking account. (Synchrony doesn’t offer one.)
Keep in mind, though, that Synchrony is an online-only bank, making it less useful for folks who prioritize in-person communication or who want to deposit cash.
Pros & Cons of Synchrony Bank High Yield Savings
| High savings yield, with daily compounding interest | |
|---|---|
| No monthly fees or minimums | $25 fee for outgoing domestic wire transfers |
| Limited to six withdrawals per month | |
| 24/7 automated customer service | |
Details
- Earn an APY of 3.40% that compounds daily.
- No monthly maintenance fee, required minimum deposits or overdraft fees.
- No incoming wire transfer fees, though you’ll owe $25 for domestic wires. (No international wires available.)
- Access to ATM card, and no-fee options through the Plus or Accel networks. Receive up to $5 per statement in reimbursements on ATMs used in the U.S.
- Limited to 6 withdrawals per month, though that doesn’t count ATM withdrawals. After that, your withdrawals will be denied, but there is no fee.
- 24/7 customer service available via the phone and there’s a chatbot that can connect you to a human representative.
Synchrony Bank High Yield Savings APY History
See how the APY for this savings account has changed over time. Interact with the trend line to view rates by date.
Comparison: Best High-Yield Savings Accounts
Here’s an overview of the best high-yield savings accounts and how their fees and APYs compare to each other.
Most Popular is calculated from the number of times each affiliate product was selected by Forbes Advisor users over a six-month period.
Compare High-Yield Savings Accounts by APY and Requirements
Here’s an overview of which banks offer the highest APYs with the lowest requirements.
Compare High-Yield Savings Accounts by Fees
This comparison of leading high-yield savings accounts shows how they stack up in terms of fees.
User Opinions of High-Yield Savings Accounts
Customer reviews can help you determine which high yield savings account is right for you. Here’s a look at how current customers feel about the best high-yield savings accounts.
Recent News on Savings Interest Rates
At the Federal Open Market Committee (FOMC) meeting held April 28-29, 2026, Fed Chair Jerome Powell announced that the board voted to maintain the benchmark rate, keeping the federal funds target range at 3.50% to 3.75%.
Rates for savings accounts generally follow the federal funds rate, so we anticipate APYs will hold or see less downward movement over the next several months. Online banks, which have lower operating costs, may continue offering higher rates longer than large traditional banks.
Our savings rates forecast includes more fresh insights for savvy savers.
Where Are Savings Rates Headed in 2026?
Over the next six to 12 months, savings yields are likely to maintain at this level or drift lower if the Fed reduces the federal funds rates. Some banks will adjust quickly, while others may hold off depending on how much they want to attract deposits.
Review savings interest rates today to see what institutions are paying on consumers’ deposits.
Pro Tip
If you’re concerned about declining savings rates and have money you feel comfortable setting aside, consider opening a certificate of deposit. CDs offer fixed rates, allowing you to lock in a high APY for an extended period of time. Opening one before a Fed rate cut can help you secure a higher rate for longer.
How To Choose a High-Yield Savings Account
With so many options on the market, choosing the right high-yield savings account might seem difficult. However, by taking the following steps (that closely mirror our methodology), you’ll be able to narrow down your options. Your main focus should be on APY, as well as fees and digital experience.
1. Score the best rate: The interest rate on a savings account determines how much your money grows, so it’s important to earn a competitive yield. Before doing anything else, compare the highest rates. When doing so, also compare compounding frequencies. CDs that compound interest daily earn slightly more in the long run.
For example, if you saved 5,000inanaccountoverfiveyearswitharateof3.505,000 in an account over five years with a rate of 3.50% and daily compounding interest, you’d earn 5,000inanaccountoverfiveyearswitharateof3.50956.18 in interest. With a rate of 3.75% you’d earn 1,031.09andwitharateof4.001,031.09 and with a rate of 4.00% you’d earn 1,031.09andwitharateof4.001,106.95.
You can determine how much you’d earn in interest, depending on your APY, by using our savings calculator.
2. Consider fees: While many high-yield savings accounts have no monthly maintenance fees, most charge fees for other activities and services. Check out an account’s fee schedule on its website. Even small fees can add up over time.
3. Look for digital features: Strong mobile apps, user-friendly online banking platforms and built-in budgeting and savings tools such as savings buckets and autosave options can make your life easier and help you save more.
4. Learn about customer satisfaction: Read customer reviews on rating platforms and app stores to learn about a bank or account’s strengths and weaknesses from real users. It’s also a good idea to look for formal complaints about an institution.
5. Check minimums: You can open and maintain many savings accounts with $0, but not all. Some have minimum deposit and balance requirements you must meet to open or earn interest. If an account has minimum requirements, make sure they work for your savings plans.
How Much Can You Save With a High Yield Savings Account?
Depending on your account’s APY, as well as the amount of money you put aside each month, you could save quite a bit with a high-yield savings account. Here’s how much you would save by depositing $100 a month over 10 years in a savings account that earns the national average APY versus a high yield savings account earning a competitive APY.
How do you calculate interest on a high-yield savings account?
To calculate interest on a high-yield savings account, you’ll need to calculate compound interest, or interest earned on interest. The easiest way to do this is with a compound interest calculator. This uses a formula that factors in an account’s balance, amount of time interest is compounded, earning rate, compounding frequency and ongoing deposits. Savings accounts often make monthly interest payments.
Pros and Cons of a High-Yield Savings Account
Here’s a closer look at the pros and cons of high-yield savings accounts.
Who Should—and Shouldn’t—Get a High-Yield Savings Account
Most individuals can benefit from opening a high-yield savings account, but these accounts aren’t ideal for everyone. Here’s a breakdown of who should and shouldn’t open an HYSA.
Learn more: Are High-Yield Savings Accounts Worth it?
Alternatives to High-Yield Savings Accounts
If a high-yield savings account (HYSA) doesn’t seem like a good fit for your money, consider the following alternatives:
See how these savings products compare.
Frequently Asked Questions (FAQs)
Can savings account interest rates change?
Yes, high-yield savings accounts have interest rates that fluctuate based on market conditions.
Do I have to pay taxes on my savings account?
Yes, interest earned from a high-yield savings account is taxable and must be reported to the IRS.
When are savings rates going to fall?
Savings rates will likely fall over the next several months as the federal funds rate decreases.