Savings
Best High-Yield Savings Accounts of 2026: Earn Up to 5.00% APY Today
Top HYSAs in 2026 pay up to 5.00% APY — over 10x the national average. Compare Ally, Marcus, UFB, and more to find the best rate for your savings.
Disclaimer: Tax figures reflect estimated 2026 projections based on IRS Publication 15-T. Tax law changes frequently. Verify with a CPA or the IRS Tax Withholding Estimator. Calcwyse.com is not a tax advisor.
The national average savings rate is 0.46% APY. The best high-yield savings accounts are paying over 10 times that right now. Moving $25,000 from a big-bank account to a top HYSA adds roughly $1,073 in annual interest — for doing nothing except opening an account. For more on this topic, see our guide: Best High-Yield Savings Account Rates in 2026: Earn Up to 5.00% APY.
Most people have their emergency fund sitting at Chase or Wells Fargo earning next to nothing. That’s a choice, and it’s an expensive one.
Where Your Savings Rate Actually Stands
Here’s what the top accounts are paying as of May 2026. Rates are variable — always confirm directly with the bank.
📊 Best High-Yield Savings Accounts — May 2026 Rate Snapshot
Bank APY Min. Balance FDIC Insured UFB Direct 5.00% $0 Yes Bread Savings 4.90% $100 Yes LendingClub LevelUp 4.75% $0 Yes Marcus by Goldman Sachs 4.50% $0 Yes Ally Bank 4.40% $0 Yes SoFi Savings 4.30% $0 Yes American Express HYSA 4.25% $0 Yes Discover Online Savings 4.20% $0 Yes Rates variable. Sources: individual bank websites, May 2026. All accounts FDIC-insured to $250,000 per depositor.
Quick math: $25,000 at 0.46% = $115/year. Same balance at 4.75% = $1,188/year. Annual difference: $1,073 — without touching the principal. Variable rates · May 2026 figures · individual results vary.
What $10,000 Earns at Each Rate — One Year Out
The dollar gap is bigger than most people expect.
📊 $10,000 Savings Balance — Annual Interest by Rate (2026)
Account APY Annual Interest vs. National Avg UFB Direct 5.00% $500 +$454 Bread Savings 4.90% $490 +$444 LendingClub LevelUp 4.75% $475 +$429 Marcus by Goldman Sachs 4.50% $450 +$404 Ally Bank 4.40% $440 +$394 SoFi Savings 4.30% $430 +$384 National average (big bank) 0.46% $46 — Calculated on $10,000 principal, one year, simple interest. Rates as of May 2026 per individual bank websites and FDIC national rate data.
The gap between UFB and a typical big-bank account is $454 per year on a $10,000 balance. On $50,000, that’s $2,270.
The Account-by-Account Breakdown
UFB Direct — 5.00% APY
UFB is a division of Axos Bank, FDIC-insured. No minimum balance, no monthly fees. The app is functional but not polished. UFB has adjusted rates more aggressively than peers during Fed easing cycles — worth watching if you’re a long-term holder. For raw APY today, it’s the current leader.
Bread Savings — 4.90% APY
Bread Financial runs this account. The $100 opening minimum is the only real hurdle. No mobile check deposit — not a problem for a dedicated savings account you fund electronically. Rate has been consistently competitive.
LendingClub LevelUp — 4.75% APY
The advertised rate requires $250 in monthly deposits. Miss a month and the rate drops to 4.00%. If you’re automating transfers — which is the right move anyway — hitting $250/month is trivial. Most people who set this up once never think about it again. For more on this topic, see our guide: 3-Month vs 6-Month Emergency Fund: Which Is Right for You in 2026?.
Marcus by Goldman Sachs — 4.50% APY
No minimums. No fees. No rate tiers. Marcus has held top-five positioning through multiple Fed cycles, which matters more than a rate that fluctuates weekly. Most people use it as a standalone savings account alongside a checking account elsewhere. That’s exactly what it’s designed for.
Most people earning $450/year on a $10,000 balance at Marcus don’t realize they could earn $500 at UFB. The $50 gap is real, but the switching cost and app quality tradeoff is a legitimate reason to stay.
Ally Bank — 4.40% APY
Ally isn’t the rate leader anymore. But the app, savings buckets, 24/7 phone support that actually answers, and same-day ACH with many linked accounts make it the best full-service online bank. If you want one account for everything, Ally wins. If you want maximum APY only, look at UFB or Bread.
SoFi — 4.30% APY
Requires a monthly direct deposit of any amount to unlock the top rate. Set it once and forget it. SoFi offers up to $2 million in FDIC coverage through its partner bank network — useful if you’re holding more than $250,000 in cash. Checking and savings are linked in one app.
How These Rates Compare to CDs and Money Markets
Estimated returns on $25,000 — alternative cash vehicles (2026):
- 🟢 UFB Direct HYSA — $1,250/year (5.00% APY, fully liquid)
- 🟢 Bread Savings HYSA — $1,225/year (4.90% APY, fully liquid)
- 🟡 1-year CD (top rate) — ~$1,275/year (5.10% APY, locked 12 months)
- 🟡 Marcus HYSA — $1,125/year (4.50% APY, fully liquid)
- 🟡 Money market account (average) — ~$1,000/year (4.00% APY, variable)
- 🔴 National average HYSA — $115/year (0.46% APY, big-bank rate)
Source: FDIC national rate data + individual bank rate pages, May 2026.
A 1-year CD at 5.10% beats a HYSA by roughly $25 on a $25,000 balance. The tradeoff: early withdrawal penalties typically run 60–150 days of interest. For emergency funds — which need to stay liquid — a HYSA is the right tool. For cash you won’t touch for 12+ months, compare current CD rates before defaulting to savings.
How to Earn More on Your Savings Without Extra Work
Three moves that add real dollars to what your savings earns.
1. Move idle cash from a big-bank savings account. The national average savings rate is 0.46% APY per FDIC data. UFB Direct pays 5.00%. On a $30,000 emergency fund, that gap is $1,362 per year. Transferring takes about 10 minutes and one bank account verification.
2. Set up automatic monthly transfers. Two reasons. First, LendingClub’s top rate requires $250/month in deposits — automation locks in the rate. Second, consistent contributions compound faster. $500/month into a 4.75% APY account grows to roughly $37,200 in five years. Manual transfers get skipped.
3. Keep your emergency fund separate from your goal savings. Ally’s bucket feature lets you split one account into named goals — Emergency Fund, New Car, Vacation — without opening multiple accounts. Separating the buckets makes it harder to raid your emergency fund for non-emergencies. Ally, SoFi, and Marcus all support goal-based savings tools.
💡 Estimated Annual Interest: Big Bank vs. HYSA Move
Scenario Annual interest vs. Baseline $25,000 at big-bank average (0.46%) $115 — $25,000 at Ally (4.40%) $1,100 +$985 $25,000 at Marcus (4.50%) $1,125 +$1,010 $25,000 at UFB Direct (5.00%) $1,250 +$1,135 Estimated · simple interest · May 2026 rates · FDIC national average baseline
Quick Answers About High-Yield Savings Accounts
What’s the highest HYSA rate available right now? UFB Direct is offering 5.00% APY as of May 2026 with no minimum balance. Bread Savings is at 4.90%.
Is my money safe in an online savings account? Yes, if the bank is FDIC-insured. Every account on this list carries full FDIC coverage up to $250,000 per depositor. SoFi extends that to $2 million through its bank partner network.
How much interest does $10,000 earn at 4.75% APY in one year? About $475 with monthly compounding. At the national average of 0.46%, the same balance earns $46. The gap is $429 per year, per $10,000.
Will HYSA rates drop in 2026? Rates are variable and tied to Fed policy. Online savings rates have stabilized in the 4.00%–5.00% range after peaking near 5.50% in late 2023. If the Fed cuts rates, online savings rates follow — typically within weeks. Big banks cut deposit rates faster and deeper than online banks during easing cycles. That pattern has held through the last three rate cycles per BLS consumer finance data.
Do I owe taxes on HYSA interest? Yes. Interest is ordinary income taxed at your marginal rate. You’ll get a 1099-INT from your bank for any year you earn more than $10 in interest. There’s no tax-advantaged wrapper for standard savings accounts — that’s what an HSA or 529 is for, depending on the goal.
Your Numbers, Your Rate
How much more could you earn by switching? Run your own balance and timeline below.
Methodology
Sources & Methodology
Rates and limits reflect 2026 IRS publications, SSA wage bases, and official federal guidance. Calculators use progressive federal brackets and standard deductions unless noted.