The best savings accounts in September 2026 pay about 3.10% to 4.00% APY, far above the FDIC’s 0.37% national average for savings. Bread Savings pays 4.00% APY with a $100 minimum, and most of the others need no minimum balance at all. Every account below is FDIC-insured, either directly or through partner banks, and none charges a monthly fee that we could find.
How we checked these rates: each APY was checked on September 29, 2026 against the bank’s own website where the bank allows it. Four banks (Marcus, SoFi, Capital One and Western Alliance) block automated checks, so their rates come from at least one recent comparison site, noted in the table. Savings rates are variable and can change at any time; confirm the rate on the bank’s site before opening.
Best Savings Accounts Compared
| Account | APY | Minimum to open | Monthly fee | Worth knowing |
|---|---|---|---|---|
| Bread Savings | 4.00% | $100 | $0 | Savings and CDs only; no checking |
| Bask Bank Interest Savings | 3.90% | Check bank | $0 | Online-only savings |
| Western Alliance Bank High-Yield Savings¹ | 3.80% | Check bank | Check bank | Personal savings from a business-focused bank |
| CIT Bank Platinum Savings | 3.75% on $5,000+ | $100 | $0 | Pays 0.25% below $5,000 |
| Barclays Tiered Savings | 3.50% (3.65% at $250,000+) | $0 | $0 | Tiered by balance |
| Wealthfront Cash Account | 3.55% | Check provider | $0 | FDIC coverage up to $8 million via partner banks; +0.65% for 3 months for new accounts |
| Marcus by Goldman Sachs Online Savings¹ | 3.50% | $0 | $0 | Sources differed (3.40% to 3.50%) on September 29 |
| Betterment Cash Reserve | 3.50% | $10 | $0 | +0.75% boost for new customers through Feb. 15, 2027 |
| SoFi Checking and Savings¹ | 3.30% with direct deposit | $0 | $0 | Up to 4.20% for up to 6 months for new members; much lower without direct deposit |
| UFB Direct Portfolio Savings | 3.26% | $0 | $0 | “Up to” rate; 3.46% when paired with UFB checking |
| Ally Bank Online Savings | 3.10% | $0 | $0 | Full online bank with checking and savings buckets |
| Capital One 360 Performance Savings¹ | 3.10% | $0 | $0 | Capital One branches and cafés for in-person help |
APYs as of September 29, 2026, variable and subject to change. ¹ The bank’s site blocks automated checks; the rate is from Bankrate, CNBC Select or The Motley Fool (see sources). “Check bank” means we couldn’t confirm that detail on the bank’s site.
Which Account Fits You
- A high flat rate on savings alone: Bread Savings at 4.00%, if you only need a savings account and don’t need checking at the same bank.
- One bank for everything: Ally or SoFi. SoFi’s rate depends on direct deposit; Ally’s doesn’t.
- Large balances above $250,000: Wealthfront or Betterment spread deposits across partner banks for multi-million-dollar FDIC coverage; Barclays pays its top tier at $250,000 and above. Compare them in Betterment vs Wealthfront.
- Branch access: Capital One 360 Performance Savings is the only account here with physical locations.
- Small starting balance: most accounts here have no minimum. CIT’s top rate needs $5,000; below that it pays 0.25%. Our list of savings accounts with no minimum balance covers more options.
For a step-by-step checklist, see how to choose a high-yield savings account.
The Accounts in Detail
Bread Savings
Bread Savings, the online bank of Bread Financial (Comenity Capital Bank, Member FDIC), pays 4.00% APY on its high-yield savings account with a $100 minimum to open and no monthly maintenance fee. It offers savings accounts and CDs but no checking, so money moves to and from a linked account at another bank.
Bask Bank Interest Savings
Bask Bank pays 3.90% APY on its Interest Savings Account with no monthly account fees. It is an online-only bank; transfers go through a linked external account.
CIT Bank Platinum Savings: Top Rate Needs $5,000
CIT Bank’s Platinum Savings pays 3.75% APY on balances of $5,000 or more and 0.25% below $5,000. The minimum to open is $100 and there are no monthly service fees. CIT periodically runs promotional rate boosts; the rates above are its standard rates. See our CIT Bank review.
Barclays Tiered Savings
Barclays pays up to 3.65% APY: 3.50% on balances under $250,000 and 3.65% at $250,000 or more. There is no minimum to open and no monthly fee.
Wealthfront Cash Account and Betterment Cash Reserve
Both are cash accounts from investing apps rather than bank accounts. They sweep your money to a network of partner banks, which is how they offer FDIC coverage well above $250,000:
- Wealthfront: 3.55% APY base rate, no account fees, FDIC coverage up to $8 million for individual accounts ($16 million joint) through up to 32 program banks. New accounts can get a 0.65% boost for three months on up to $150,000. See our Wealthfront Cash review.
- Betterment: 3.50% APY base rate with a $10 minimum deposit, no account fees, FDIC coverage up to $4 million individual ($8 million joint). New customers with qualifying deposits can add a 0.75% boost on up to $1 million through February 15, 2027.
Marcus by Goldman Sachs Online Savings
Marcus pays about 3.50% APY (Bankrate; CNBC Select listed 3.40% on September 29, 2026) with no minimum and no fees. It is a savings-focused online bank without a checking account. See our Marcus savings review.
SoFi Checking and Savings
SoFi pays 3.30% APY on savings with eligible direct deposit or qualifying deposits; the rate is much lower without them. New members can earn up to 4.20% with a 0.90% boost for up to six months while they keep receiving direct deposits or $5,000 in qualifying deposits every 31 days. See our SoFi savings review.
Ally Bank Online Savings
Ally pays 3.10% APY with no minimum deposit and no monthly fee. Its strength is the whole account rather than the rate: checking, savings “buckets” for separate goals, and CDs at one online bank. See our Ally savings review.
Capital One 360 Performance Savings
Capital One pays about 3.10% APY with no minimum and no fees. It is the one account here with physical branches and cafés. Discover Bank’s deposit accounts are now part of Capital One. See our Capital One savings review.
Also Worth a Look
- UFB Direct Portfolio Savings: up to 3.26% APY with no minimum and no maintenance fees (3.46% when paired with UFB Freedom Checking).
- Apple Savings (for Apple Card holders) and Cash App Savings suit people who already use those apps: see Apple Savings and Cash App Savings.
How Much More You Earn
APY already includes compounding, so a year’s interest is simply balance × APY, as long as the rate doesn’t change:
| Balance | 4.00% APY | 3.50% APY | 3.10% APY | 0.37% (national average) |
|---|---|---|---|---|
| $10,000 | $400 | $350 | $310 | $37 |
| $25,000 | $1,000 | $875 | $775 | $92.50 |
| $50,000 | $2,000 | $1,750 | $1,550 | $185 |
On a $25,000 emergency fund, moving from the national average to a 4.00% account earns $907.50 more a year. Interest is taxed as ordinary income in the year it’s credited; banks send a 1099-INT when you earn $10 or more. To project other balances and monthly deposits, use our savings interest calculator.
Promotional Rates vs Ongoing Rates
Some of the highest numbers you’ll see are temporary:
- Boosts for new customers (SoFi, Wealthfront, Betterment) add to the base rate for a set period, then end. Compare the base rate you’ll earn afterwards.
- Conditions can apply: SoFi’s rate depends on direct deposit, and CIT’s top rate needs $5,000.
- All savings rates are variable. Even a rate with no promotion attached can change at any time. The Federal Reserve raised its target range by a quarter point to 3.75% to 4.00% on September 16, 2026, and banks adjust savings APYs at their own pace after a Fed decision. Our savings rate tracker follows the averages over time.
For what counts as a competitive rate, see what is a good savings interest rate.
High-Yield Savings vs Traditional Savings
A high-yield savings account is an ordinary FDIC-insured savings account that pays far more than average, almost always at an online bank with lower costs than a branch network. The trade-offs: no branches (except Capital One here), transfers to and from another bank take one to three business days, and some banks limit withdrawals to six a month. Your money is protected the same way: up to $250,000 per depositor, per bank, per ownership category (see FDIC insurance limits).
When a Savings Account Isn’t the Best Place
- Money you won’t touch for a set period: a CD locks in a rate; compare CDs vs savings accounts.
- Check-writing or a debit card on savings: a money market account; see money market vs savings and the best money market accounts.
- Larger balances in high-tax states: Treasury bill interest is exempt from state income tax; see HYSA vs Treasury bills.
- An emergency fund: a high-yield savings account is the usual home; see the best HYSA for an emergency fund.
Opening an account takes about 15 minutes online; see how to open a savings account. This page is part of our savings accounts guide.
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