8 of the Best Savings Accounts [January 2026]

Finding the perfect savings account when there are so many options can feel overwhelming. The best place to start is to focus on savings accounts with the highest interest rates. Right now, the national average savings rate is a sad 0.39% (as of 12/15/25)¹ <p>Based on <a href="https://www.fdic.gov/national-rates-and-rate-caps">this</a> FDIC data, as of 10/21/24.</p> , according to the FDIC. But the best savings accounts are earning 3.40% APY or higher, so use that as your benchmark when comparing accounts and determining which ones are really worth your time.

To help you find your perfect savings account, we've analyzed dozens of options from banks, financial technology companies, and credit unions. The best savings accounts we chose offer high interest rates and go beyond this to provide more benefits, like combined checking and savings features, ATM access, and more.

Limited-Time Offer

AWARD WINNER Best Checking and Savings Combo

SoFi Checking and Savings

5.0

FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment. Our partners do not influence our ratings.

Learn More on SoFi's secure website, Member FDIC

APY

4.00% Earn up to 4.00% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.30% APY as of 12/23/25) for up to 6 months. Open a new SoFi Checking and Savings account and pay the $10 SoFi Plus subscription every 30 days OR receive eligible direct deposits OR qualifying deposits of $5,000 every 31 days by 1/31/26. Rates variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.

Minimum Balance for APY

$0

Bonus Offer

Up to $300 New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Eligible Direct Deposit. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at sofi.com/banking. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.SoFi members with Eligible Direct Deposit can earn 3.30% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 3.30% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 12/23/25. There is no minimum balance requirement. Fees may reduce earnings. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.

Why We Like It

• Earn a $50 or $300 bonus and up to 4.00% APY² <p>New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Eligible Direct Deposit. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at sofi.com/banking. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.</p><p>SoFi members with Eligible Direct Deposit can earn 3.30% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 3.30% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 12/23/25. There is no minimum balance requirement. Fees may reduce earnings. Additional information can be found at&nbsp;<a href="http://www.sofi.com/legal/banking-rate-sheet">http://www.sofi.com/legal/banking-rate-sheet</a>.</p> on your money with eligible direct deposit
• Limited-Time Offer: +0.70% Boost on Savings APY to up to 4.00% for up to 6 months on new accounts. Terms apply.³ <p>Earn up to 4.00% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.30% APY as of 12/23/25) for up to 6 months. Open a new SoFi Checking and Savings account and pay the $10 SoFi Plus subscription every 30 days OR receive eligible direct deposits OR qualifying deposits of $5,000 every 31 days by 1/31/26. Rates variable, subject to change. Terms apply at&nbsp;<a href="https://www.sofi.com/banking/#2">sofi.com/banking#2</a>. SoFi Bank, N.A. Member FDIC.</p>
• No account, overdraft, or monthly fees⁴ <p>We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at <a href="http://sofi.com/legal/banking-fees/">sofi.com/legal/banking-fees/</a></p>
• Get your paycheck up to two days early with direct deposit⁵ <p>Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.</p>
• Access additional FDIC insurance up to $3 million⁶ <p><b style="font-family: Rubik, -apple-system, BlinkMacSystemFont, &quot;Segoe UI&quot;, Roboto, &quot;Helvetica Neue&quot;, Arial, sans-serif;">SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations.&nbsp;Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at&nbsp;<a href="http://sofi.com/banking/fdic/sidpterms">SoFi.com/banking/fdic/sidpterms</a>. See list of participating banks at <a href="http://sofi.com/banking/fdic/participatingbanks">SoFi.com/banking/fdic/participatingbanks</a>.</b></p>

Learn More on SoFi's secure website, Member FDIC

Compare some of the highest-interest savings accounts for January 2026

Account name	APY	Best for
SoFi Checking and Savings	Up to 3.30% APY with direct deposit requirement7 <p>Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 12/23/25. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at&nbsp;<a href="https://www.sofi.com/legal/banking-rate-sheet">https://www.sofi.com/legal/banking-rate-sheet</a></p>	Combined checking and savings
American Express® High Yield Savings	3.30% annual percentage yield (APY)8 <p>The Annual Percentage Yield (APY) as advertised is accurate as of December 30, 2025. Interest rate and APY are subject to change at any time without notice before and after a High Yield Savings Account is opened.&nbsp;Interest Rate and APY of a Certificate of&nbsp;Deposit account is fixed once the account is funded.</p>	Customer service
E*TRADE Premium Savings Account	3.75% APY9 <p>As of 09/23/2025, the Annual Percentage Yield (APY) of the Premium Savings Account offered by Morgan Stanley Private Bank, National Association, Member FDIC is 3.75%. Your interest rate and APY may change at any time and fees may reduce earnings. Please visit <a href="http://etrade.com/ratesheet">etrade.com/ratesheet</a> for information regarding this account's current interest rate and corresponding APY.</p>	Investors
Synchrony High Yield Savings	3.65% APY10 <p>Annual Percentage Yield (APY) is subject to change at any time without notice. Rate accurate as of 11/18/2025. Offer applies to personal accounts only. Fees may reduce earnings. For High Yield Savings accounts, the rate may change after the account is opened. Visit synchrony.com/banking for current rates, terms and account requirements. Member FDIC.</p>	Consistently high savings rates
Barclays Tiered Savings Account	3.85% APY11 <p>Barclays Tiered Savings Annual Percentage Yields (APYs) are accurate as of 11/19/2025 and may change at any time without prior notice, before or after the account is opened. The APYs are determined by the Balance Tiers (Tiers) and the amount deposited. The same rate may apply to multiple Tiers and Tiers may change without notice. APY is calculated based on the Tier into which the end of day account balance falls. Fees could reduce the earnings on the account. No minimum balance to open, but for interest to post to your account you must maintain a minimum balance that would earn you at least $0.01. Please see the Compare Account Page for current Tier and APY information.</p>	No minimum deposit
UFB Portfolio Savings Account	Up to 3.26%12 <p> The Annual Percentage Yield (APY) is accurate as of 01/06/2026. The interest rate and corresponding APY for savings is variable and is set at our discretion. This is a tiered variable rate account. Interest rates may change as often as daily without prior notice. Fees may reduce earnings.</p> APY	ATM access
LendingClub LevelUp Savings	4.40% (as of 05/12/25)13 <p>LevelUp Rate of 4.00% Annual Percentage Yield (“APY”) is accurate as of 01/13/2025. Standard Rate of 3.00% APY accurate as of 01/13/2025. Rates are variable and subject to change at any time without notice, at the sole discretion of the bank.</p><p>LevelUp Rate is applied to the full balance of LevelUp Savings accounts that receive a total of at least $250 in deposits during the Evaluation Period. Otherwise, accounts will earn the Standard Rate. Interest payments, account bonuses, account credits and reversals or refunds from the bank are not considered deposits for rate evaluation purposes. All LevelUp Savings accounts earn the LevelUp Rate at account opening and continue to earn the LevelUp Rate until the First Evaluation Period, to provide an opportunity to set up deposits. While accounts will not move from the LevelUp Rate prior to the First Evaluation Period, the LevelUp Rate is variable and subject to change at any time, including prior to the First Evaluation Period.</p><p>An Evaluation Period is a statement cycle. The First Evaluation Period will be the third statement cycle after you open your account, with any rate change becoming effective the next statement cycle. For example, if you open in August, the first Evaluation Period would be October with any rate change effective in November. Any rate changes will take place at the end of the first business day of the month and will be based on deposits in the previous statement cycle.</p>	Frequent deposits to high-yield savings
Varo Savings Account	Up to 5.00% (as of 05/27/25) APY with direct deposit requirement	Smaller balances

SoFi Checking and Savings account

2026 AWARD WINNER Best Online Checking

5.0

FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment. Our partners do not influence our ratings.

SoFi Checking and Savings

Earn Up to $300 When You Set Up Direct Deposit

Limited-Time Offer: Earn a $50 or $300 bonus with eligible direct deposit and up to 4.00% APY on Savings (3.30% APY² <p>New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Eligible Direct Deposit. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at sofi.com/banking. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.</p><p>SoFi members with Eligible Direct Deposit can earn 3.30% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 3.30% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 12/23/25. There is no minimum balance requirement. Fees may reduce earnings. Additional information can be found at&nbsp;<a href="http://www.sofi.com/legal/banking-rate-sheet">http://www.sofi.com/legal/banking-rate-sheet</a>.</p> with +0.70% APY Boost) for up to 6 months on new accounts. Terms Apply.³ <p>Earn up to 4.00% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.30% APY as of 12/23/25) for up to 6 months. Open a new SoFi Checking and Savings account and pay the $10 SoFi Plus subscription every 30 days OR receive eligible direct deposits OR qualifying deposits of $5,000 every 31 days by 1/31/26. Rates variable, subject to change. Terms apply at&nbsp;<a href="https://www.sofi.com/banking/#2">sofi.com/banking#2</a>. SoFi Bank, N.A. Member FDIC.</p> FDIC Insured.⁶ <p><b style="font-family: Rubik, -apple-system, BlinkMacSystemFont, &quot;Segoe UI&quot;, Roboto, &quot;Helvetica Neue&quot;, Arial, sans-serif;">SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations.&nbsp;Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at&nbsp;<a href="http://sofi.com/banking/fdic/sidpterms">SoFi.com/banking/fdic/sidpterms</a>. See list of participating banks at <a href="http://sofi.com/banking/fdic/participatingbanks">SoFi.com/banking/fdic/participatingbanks</a>.</b></p>

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SoFi®'s savings account is unique, and one of the best, because it isn't just a savings account — it's also a checking account. With SoFi, you can earn up to 3.30% APY on savings with direct deposit. This combination account offers savings perks like the ability to create separate savings goals and round up debit card transactions to save more, plus checking perks like early paycheck access with direct deposit⁵ <p>Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.</p> and even interest.

There's no minimum balance requirement, and you don't have to worry about monthly maintenance⁴ <p>We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at <a href="http://sofi.com/legal/banking-fees/">sofi.com/legal/banking-fees/</a></p> or overdraft fees.¹⁴ <p>Overdraft Coverage is a feature automatically offered to SoFi Checking and Savings account holders who receive at least $1,000 or more in Eligible Direct Deposits within a rolling 31 calendar day period on a recurring basis. Eligible Direct Deposit is defined on the SoFi Bank Rate Sheet, available at <a href="https://www.sofi.com/legal/banking-rate-sheet">https://www.sofi.com/legal/banking-rate-sheet</a>. Members enrolled in Overdraft Coverage may be covered for up to $50 in negative balances on SoFi Bank debit card purchases only. Overdraft Coverage does not apply to P2P transfers, bill payments, checks, or other non-debit card transactions. Members with a prior history of unpaid negative balances are not eligible for Overdraft Coverage. Eligibility for Overdraft Coverage is determined by SoFi Bank in its sole discretion. Members can check their enrollment status, if eligible, at any time by logging into their account through the SoFi app or on the SoFi website.</p> .

Visit SoFi® | Read our SoFi® review

American Express^® High Yield Savings

2026 AWARD WINNER Best Savings for Customer Service

5.0

FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment. Our partners do not influence our ratings.

American Express® High Yield Savings

American Express® Savings - 3.30% annual percentage yield (APY)⁸ <p>The Annual Percentage Yield (APY) as advertised is accurate as of December 30, 2025. Interest rate and APY are subject to change at any time without notice before and after a High Yield Savings Account is opened.&nbsp;Interest Rate and APY of a Certificate of&nbsp;Deposit account is fixed once the account is funded.</p>

High Yield Savings Account. No Minimum Required Deposit or Balance.¹⁵ <p class="">There 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.</p> Terms Apply.

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The American Express High Yield Savings Account stands out for its outstanding customer service. If you want to be able to contact your bank whenever you want, this account could be a smart choice. American Express offers banking customer support by phone 24 hours per day, seven days per week, to answer questions or deal with issues you may have. And in my experience, you can expect friendly, helpful service.

American Express also offers CDs, personal loans, and credit cards. They have apps for Android and iPhone devices to manage your credit cards. If you have a credit card and a high-yield savings account, you can manage both from one app.¹⁶ <p>iOS and Android only. See app store listings for operating system&nbsp;info.</p> ¹⁷ <p>For purposes of transferring funds to or from an external bank, business days are&nbsp;Monday through Friday, excluding federal holidays. Transfers can be initiated 24/7 via the&nbsp;website or phone, but any transfers initiated after 7:00 PM Eastern Time or on non-business&nbsp;days will begin processing on the next business day. Funds deposited into your account may be&nbsp;subject to holds. See the Funds Availability section of your Consumer Deposit Account&nbsp;Agreement and Savings Schedules for more information.</p>

Visit American Express | Read our American Express High Yield Savings Review

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E*TRADE Premium Savings Account

5.0

FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment. Our partners do not influence our ratings.

Premium Savings

Premium Savings - 3.75% Annual Percentage Yield⁹ <p>As of 09/23/2025, the Annual Percentage Yield (APY) of the Premium Savings Account offered by Morgan Stanley Private Bank, National Association, Member FDIC is 3.75%. Your interest rate and APY may change at any time and fees may reduce earnings. Please visit <a href="http://etrade.com/ratesheet">etrade.com/ratesheet</a> for information regarding this account's current interest rate and corresponding APY.</p>

Premium Savings offers a powerful 3.75% Annual Percentage Yield.⁹ <p>As of 09/23/2025, the Annual Percentage Yield (APY) of the Premium Savings Account offered by Morgan Stanley Private Bank, National Association, Member FDIC is 3.75%. Your interest rate and APY may change at any time and fees may reduce earnings. Please visit <a href="http://etrade.com/ratesheet">etrade.com/ratesheet</a> for information regarding this account's current interest rate and corresponding APY.</p> FDIC insured up to $500,000¹⁹ <p>The Premium Savings Account gives Morgan Stanley Private Bank, National Association, Member FDIC the ability to send any amount held on deposit in your Premium Savings Account to other depository accounts at Federal Deposit Insurance Corporation ("FDIC") member banks with the purpose of affording you additional FDIC insurance coverage. It is designed to offer up to $500,000 in FDIC coverage to individual accounts (up to $1 million for joint accounts). Certain conditions must be met. <a href="https://us.etrade.com/l/f/agreement-library/premium-savings-bank-deposit-program">Learn more</a>.</p> once certain conditions have been satisfied. No minimum initial deposit,²⁰ <p class="">No minimum initial deposit is required to open an account.&nbsp; However, account must be funded within 30 days to remain open.</p> and no monthly account fees.

Learn More

The E*TRADE Premium Savings Account does more things right than not, especially if you invest with E*TRADE or want to. It earns 3.75% APY, which is more competitive than many accounts currently available, and doesn't require a minimum deposit or have a monthly service fee.

While we like this account for investors because it's offered through E*TRADE, arguably the best brokerage for active trading, you don't have to be a current E*TRADE customer to open it. Unlike some bank accounts offered by brokerages, it's not linked to an investing account. And while it doesn't have as many perks as other accounts on our list, it does provide up to $500,000 in FDIC insurance.¹⁹ <p>The Premium Savings Account gives Morgan Stanley Private Bank, National Association, Member FDIC the ability to send any amount held on deposit in your Premium Savings Account to other depository accounts at Federal Deposit Insurance Corporation ("FDIC") member banks with the purpose of affording you additional FDIC insurance coverage. It is designed to offer up to $500,000 in FDIC coverage to individual accounts (up to $1 million for joint accounts). Certain conditions must be met. <a href="https://us.etrade.com/l/f/agreement-library/premium-savings-bank-deposit-program">Learn more</a>.</p>

As a Premium Savings account holder, you would use the E*TRADE app to manage your account. This might not be a disadvantage, necessarily, but it is worth noting that the app isn't strictly for banking, which could be confusing if you don't plan to invest with E*TRADE. The account also doesn't permit cash deposits or ATM access.

Visit E*TRADE | Read our E*TRADE bank review

Synchrony Bank High Yield Savings

5.0

FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment. Our partners do not influence our ratings.

Synchrony Bank High Yield Savings

Synchrony Bank High Yield Savings - 3.65% APY

Let your money work for you with great rates: count on it. Open a High Yield Savings account with Synchrony today. Member FDIC.¹⁰ <p>Annual Percentage Yield (APY) is subject to change at any time without notice. Rate accurate as of 11/18/2025. Offer applies to personal accounts only. Fees may reduce earnings. For High Yield Savings accounts, the rate may change after the account is opened. Visit synchrony.com/banking for current rates, terms and account requirements. Member FDIC.</p>

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The Synchrony Bank High Yield Savings account stands out for offering some of the best savings rates available for years now. Savings rates are variable, meaning they can change at any time, and you're not guaranteed to earn the same APY tomorrow as you're earning today. But Synchrony has long been competitive with its savings accounts, even when yields fluctuate and decrease, and I've watched it stay near the top of the pack for long enough to feel confident that things are likely to continue in that direction.

To give you an example, this account earned 4.30% APY in November of 2024. For comparison, the national average savings rate was 0.45% at that time, according to the FDIC, but only the best accounts were earning more than 4.00% APY. Although Synchrony's rates aren't necessarily the very highest, they're more consistently competitive than many other HYSAs I've seen, which can pop in and out of top rankings.

Synchrony doesn't offer many banking products, but its savings accounts are worth considering if you want to feel secure in the rate you earn now and in the future.

Visit Synchrony Bank | Read our Synchrony Bank review

Barclays Tiered Savings Account

2026 AWARD WINNER Best for Low or No Fee Savings

5.0

FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment. Our partners do not influence our ratings.

Barclays Tiered Savings

Barclays Tiered Savings – Earn 3.85% APY¹¹ <p>Barclays Tiered Savings Annual Percentage Yields (APYs) are accurate as of 11/19/2025 and may change at any time without prior notice, before or after the account is opened. The APYs are determined by the Balance Tiers (Tiers) and the amount deposited. The same rate may apply to multiple Tiers and Tiers may change without notice. APY is calculated based on the Tier into which the end of day account balance falls. Fees could reduce the earnings on the account. No minimum balance to open, but for interest to post to your account you must maintain a minimum balance that would earn you at least $0.01. Please see the Compare Account Page for current Tier and APY information.</p> with no minimum deposit.

High-yield savings account. Earn 3.85% APY with no minimum deposit.

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In addition to earning a base 3.85% APY that easily beats the national average, there's no minimum opening balance or deposit requirement to open the Barclays Tiered Savings Account. I imagine most people will qualify for the lower rate, so I chose this account using that. While it's pretty common for online savings accounts to have no deposit minimums, you'll often see balance minimums of $100 or more to get the best yields. With this account, you earn interest on as little as a penny.

This is technically a tiered savings account, meaning balance tiers determine your interest rate, but all balances below $250,000 currently qualify for the same yield. The account also has no monthly maintenance fees. Barclays also offers CDs with no minimums, which is uncommon.

If you're after a banking platform like Barclays but want just a few more savings account options, I suggest checking out Synchrony. This platform is focused on savings like Barclays, but it also has regular and IRA money market accounts and IRA CDs. Its savings account has no minimums, either, and it earns 3.65% APY.

Visit Barclays | Read our Barclays Tiered Savings Account review

UFB Portfolio Savings account

5.0

FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment. Our partners do not influence our ratings.

UFB Portfolio Savings

UFB Portfolio Savings - 3.26% APY¹² <p> The Annual Percentage Yield (APY) is accurate as of 01/06/2026. The interest rate and corresponding APY for savings is variable and is set at our discretion. This is a tiered variable rate account. Interest rates may change as often as daily without prior notice. Fees may reduce earnings.</p>

High Yield Savings Account. No Minimum Balance. FDIC Insured.

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UFB Portfolio Savings has a high APY rate with relatively few strings attached. UFB Direct doesn't require you to set up direct deposit as Varo and SoFi do. You also don't have to maintain a minimum balance or pay maintenance fees.

But to me, this account's best feature is its ATM card, which is why it topped our list of the best savings accounts with debit or ATM cards. This is very rare in a savings account, especially one from an online bank. Typically, you can't withdraw cash with a savings account and must instead make an electronic transfer to another account. And while UFB doesn't reimburse ATM fees, it does have around 91,000 ATMs across the U.S. you can use for free.

Visit UFB Direct

LendingClub LevelUp Savings

2026 AWARD WINNER Best Account for Consistent Savers

5.0

FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment. Our partners do not influence our ratings.

LendingClub LevelUp Savings

Earn up to 4.00% APY

Earn up to 4.00% APY¹³ <p>LevelUp Rate of 4.00% Annual Percentage Yield (“APY”) is accurate as of 01/13/2025. Standard Rate of 3.00% APY accurate as of 01/13/2025. Rates are variable and subject to change at any time without notice, at the sole discretion of the bank.</p><p>LevelUp Rate is applied to the full balance of LevelUp Savings accounts that receive a total of at least $250 in deposits during the Evaluation Period. Otherwise, accounts will earn the Standard Rate. Interest payments, account bonuses, account credits and reversals or refunds from the bank are not considered deposits for rate evaluation purposes. All LevelUp Savings accounts earn the LevelUp Rate at account opening and continue to earn the LevelUp Rate until the First Evaluation Period, to provide an opportunity to set up deposits. While accounts will not move from the LevelUp Rate prior to the First Evaluation Period, the LevelUp Rate is variable and subject to change at any time, including prior to the First Evaluation Period.</p><p>An Evaluation Period is a statement cycle. The First Evaluation Period will be the third statement cycle after you open your account, with any rate change becoming effective the next statement cycle. For example, if you open in August, the first Evaluation Period would be October with any rate change effective in November. Any rate changes will take place at the end of the first business day of the month and will be based on deposits in the previous statement cycle.</p> when you open a new LevelUp Savings account and deposit $250+ per month. Member FDIC.

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LendingClub LevelUp Savings has held a top spot among the highest-earning savings accounts for a while, and its rate may be reason enough for you to sign up. However, this account's one disadvantage — or advantage, depending on how you think about it — is that you have to deposit $250 or more each month to qualify for the stated rate. Otherwise, you'll earn 3.20% (as of 08/6/25) APY (which is still really good). I see requirements like this as motivating, but you might not think about it this way.

LendingClub also has excellent mobile apps going for it and a very high Trustpilot rating of 4.6 out of 5 stars, which is incredibly good for a financial institution.

Read our LendingClub LevelUp Savings review

Varo Savings account

Varo offers a savings account with a consistently competitive yield that doesn't change often, and it's my favorite for saving a few hundred or thousand dollars.

To get the highest stated APY, you must receive total qualifying direct deposits of $1,000 or more each month.²¹ <p class="">The product and annual percentage yield (APY) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your area. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. Always verify account details and availability with the financial institution before opening an account.<br></p> You earn the higher APY on balances up to $5,000 if you meet the qualifications. Any balance above $5,000 will receive the lower APY, so I don't necessarily recommend this one if you're sitting on a sizable chunk of cash.

Read our Varo Savings account review.

Savings accounts we didn't choose

Capital One 360 Performance Savings

The Capital One 360 Performance Savings account earns 3.40%²² <span>A rate of 3.40% Annual Percentage Yield (APY) applies to all account balances. Advertised rates are variable and effective as of 10/01/25. Rates are subject to change at any time before or after account opening.</span> APY, which puts it on par with some of the most competitive high-yield savings accounts. But because it doesn't have a ton of unique features to make it the best choice for a certain type of consumer, it didn't quite make our list.

You should consider this account over the American Express high-yield savings account, however, if you're already a Capital One customer.

Read our full Capital One 360 review.

Ally Bank High Yield Savings

If you want your savings account to help you make a habit of saving, the Ally Bank High Yield Savings account is a good place to start. Although it doesn't earn the highest rate on the market, I've always known this account to be reasonably competitive, and it's the savings "boosters" that set it apart. You can round up your spending transactions, set recurring transfers, and enable a feature called Surprise Savings to find savable money you're not using. However, you'll need an Ally Spending account to take advantage of all of these tools.

Read our Ally Online Savings Review.

Citi Accelerate High-Yield Savings

The Citi Accelerate High-Yield Savings account isn't a bad option by any means, but only consumers in certain states can qualify for the highest stated rate of 3.50% interest, with a promotional APY of up to 0.91% (as of 12/10/25) APY. For this reason, I couldn't include it as an option for everyone. Citibank has also been involved in a fair number of lawsuits in recent years, so do your research if you're thinking about joining.

What is a savings account?

A savings account is a type of bank account designed for depositing money you don't plan to spend immediately. Savings accounts typically express rates as an annual percentage yield (APY), which accounts for your annual earnings with compound interest (or the interest you earn on interest).

People use savings accounts for a variety of purposes. You might use yours to save for a new computer, a vacation, college costs for your kids, an emergency fund, to buy your next car, or any other goal. I use mine for money I want to grow but am not ready or able to invest. You might even decide to have more than one savings account. Some banks allow you to open multiple and create custom names for each, which can help you visualize your savings goals.

Savings accounts don't lose money due to market movements like an investment could. They have high liquidity, so they've historically been a reasonably stable place to stash any cash you want quick access to. They also generally come with FDIC insurance when opened with banks or NCUA insurance when opened with credit unions. Both cover you up to at least $250,000 in case an institution fails.

Types of savings accounts

Most of us probably think of a traditional savings account when someone says "savings account" to us. But there are a few different types of savings accounts:

• Regular and high-yield savings accounts: These accounts may be offered at a brick-and-mortar bank (like Chase or Bank of America) or by online financial institutions (or a combination of both, like Capital One). A high-yield savings account differs from a traditional one in that it earns an above-average interest rate. Currently, the national average savings rate is 0.39% (as of 12/15/25), according to FDIC data.
• Certificate of deposit (CD) accounts: CDs often pay high returns on your money, but you're typically committed to a specific term length before you can access your money again. Compared to savings accounts, CDs often have better rates. Here's our list of the best CD accounts if you're curious about this savings option. 
• Money market accounts (MMAs): The main advantage of MMAs is that they often have rates similar to or better than savings rates, and they're much more likely to include debit and/or ATM cards. However, these usually have higher balance requirements. If you're curious about MMAs, here our list of the best money market accounts. 
• Cash management accounts (CMAs): These accounts, which you often open with brokerages rather than banks, combine checking and savings account features, but they don't technically fall into either category. You may receive a higher interest rate than a standard checking account, though maybe not as high as with one of the best high-yield savings accounts. The Wealthfront Cash Account is just one example, which we considered for our list of top savings accounts but didn't choose because it doesn't fit the definition.

How to pick the right savings account for you

Here are a few factors to consider when choosing a savings account.

Compare rates

APYs can vary widely from bank to bank, as can the timeframe in which the interest is compounded (the more often it compounds, the faster your money grows). Online banks and credit unions tend to have some of the most competitive rates, while big banks like Bank of America, Chase, and Wells Fargo pay rates as low as 0.01% APY. There are more savings accounts that earn 5% interest or close to it than you might think.

Read fee schedules

Ideally, you'd find a bank with no monthly fees for a savings account. However, some banks offer additional services that may be worth paying fees depending on your circumstances. Make sure you read the fine print to understand what fees you may be subject to before opening a new account. For savings, look out for excessive withdrawal fees, transfer fees, and nonsufficient funds fees.

Check minimums

Some accounts require you to deposit a certain amount just to open them. This initial deposit may not be an issue if you've already saved a lot. But if you're new to saving or even if you're not, make sure you have this amount ready to deposit. I recommend finding an account with minimums you can comfortably meet without thinking about it.

Decide how you want to bank

Decide whether you prefer in-person or online banking before opening an account. The best high-yield online savings accounts may offer higher interest rates because the bank has lower overhead, which means the bank won't have physical branches you can visit. Brick-and-mortar banks have higher expenses to stay open and usually have lower interest rates, but they'll provide in-branch services.

Many financial institutions offer easy access to your account, with online and app options.

Look into support

Last but not least, check how and when you can contact customer service if you anticipate needing help with your account. Some banks offer in-person, phone, or online chat support. Look into service hours, too. I also like to read a few mobile app and Trustpilot reviews before opening an account with a bank.

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2026 AWARD WINNER Best Savings for Customer Service

American Express® Savings - 3.30% annual percentage yield (APY)⁸ <p>The Annual Percentage Yield (APY) as advertised is accurate as of December 30, 2025. Interest rate and APY are subject to change at any time without notice before and after a High Yield Savings Account is opened.&nbsp;Interest Rate and APY of a Certificate of&nbsp;Deposit account is fixed once the account is funded.</p>

High Yield Savings Account. No Minimum Required Deposit or Balance.¹⁵ <p class="">There 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.</p> Terms Apply.

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Use Cash App As Your All-in-One Financial Services Platform

Bank²³ <p>Cash App is a financial services platform, not a bank. Banking services provided by Cash App’s bank partner(s). Savings provided by Cash App, a Block, Inc. brand.</p><p class="">Cash App is a financial services platform, not a bank. Banking services provided by Cash App’s bank partner(s). Direct Deposit provided by Cash App, a Block, Inc. brand.</p> without all the fees—save, send, and spend your money the way you want.²⁴ <p class="">Your balance is eligible for FDIC pass-through insurance through our Program Banks Wells Fargo Bank, N.A. and/or Sutton Bank, Members FDIC for up to $250,000 per customer when aggregated with all other deposits held in the same legal capacity at each Program Bank above, if certain conditions are met. Cash App is a financial services platform, and not an FDIC-insured bank. Prepaid debit cards issued by Sutton Bank, Member FDIC. See <a href="https://cash.app/legal/us/en-us/card-agreement">terms and conditions</a>. </p> Get paid up to 2 days early – up to 2 days earlier than most banks²⁵ <p>Your first deposit may take longer depending on your employer.</p>

Download Cash App

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AWARD WINNER Best Online Checking

SoFi Checking & Savings - Earn Up to $300 When You Set Up Direct Deposit

Limited-Time Offer: Earn a $50 or $300 bonus with eligible direct deposit and up to 4.00% APY on Savings (3.30% APY² <p>New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Eligible Direct Deposit. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at sofi.com/banking. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.</p><p>SoFi members with Eligible Direct Deposit can earn 3.30% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 3.30% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 12/23/25. There is no minimum balance requirement. Fees may reduce earnings. Additional information can be found at&nbsp;<a href="http://www.sofi.com/legal/banking-rate-sheet">http://www.sofi.com/legal/banking-rate-sheet</a>.</p> with +0.70% APY Boost) for up to 6 Months on new accounts. Terms Apply.³ <p>Earn up to 4.00% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.30% APY as of 12/23/25) for up to 6 months. Open a new SoFi Checking and Savings account and pay the $10 SoFi Plus subscription every 30 days OR receive eligible direct deposits OR qualifying deposits of $5,000 every 31 days by 1/31/26. Rates variable, subject to change. Terms apply at&nbsp;<a href="https://www.sofi.com/banking/#2">sofi.com/banking#2</a>. SoFi Bank, N.A. Member FDIC.</p> FDIC Insured.⁶ <p><b style="font-family: Rubik, -apple-system, BlinkMacSystemFont, &quot;Segoe UI&quot;, Roboto, &quot;Helvetica Neue&quot;, Arial, sans-serif;">SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations.&nbsp;Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at&nbsp;<a href="http://sofi.com/banking/fdic/sidpterms">SoFi.com/banking/fdic/sidpterms</a>. See list of participating banks at <a href="http://sofi.com/banking/fdic/participatingbanks">SoFi.com/banking/fdic/participatingbanks</a>.</b></p>

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FAQs

Bottom line

Whether you're looking for your first savings account or one that pays more interest, opening a new savings account doesn't have to be difficult. First, decide which features are most important to you. Then, find a savings account that excels in that area.

If you're looking for a savings account to help you work toward your financial goals, consider the savings accounts listed above. And if you're looking for a financial institution that offers more than just savings accounts, be sure to check out our list of the best banks. You could also consider a high-interest checking account. 

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FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment. Our partners do not influence our ratings.

AWARD WINNER Best Online Checking

High APY of up to 4.00% on Savings (3.30% APY² <p>New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Eligible Direct Deposit. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at sofi.com/banking. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.</p><p>SoFi members with Eligible Direct Deposit can earn 3.30% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 3.30% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 12/23/25. There is no minimum balance requirement. Fees may reduce earnings. Additional information can be found at&nbsp;<a href="http://www.sofi.com/legal/banking-rate-sheet">http://www.sofi.com/legal/banking-rate-sheet</a>.</p> with +0.70% APY Boost) for up to 6 Months on new accounts. Terms Apply.³ <p>Earn up to 4.00% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.30% APY as of 12/23/25) for up to 6 months. Open a new SoFi Checking and Savings account and pay the $10 SoFi Plus subscription every 30 days OR receive eligible direct deposits OR qualifying deposits of $5,000 every 31 days by 1/31/26. Rates variable, subject to change. Terms apply at&nbsp;<a href="https://www.sofi.com/banking/#2">sofi.com/banking#2</a>. SoFi Bank, N.A. Member FDIC.</p>

Paycheck access up to 2 days early with direct deposit⁵ <p>Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.</p>

No monthly maintenance or overdraft fees⁴ <p>We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at <a href="http://sofi.com/legal/banking-fees/">sofi.com/legal/banking-fees/</a></p>

Streamlined savings and savings goals with Vaults

Access to a large ATM network²⁶ <p>We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees may be incurred when using out-of-network ATMs. SoFi’s ATM policies are subject to change at our discretion at any time.</p>