Best High-Yield Savings Accounts Of February 2026

Editor’s Note: APYs listed in this article are up-to-date as of the time of publication. They may fluctuate (up or down) as the Fed rate changes. CNBC Select will update as changes are made public.

With a high-yield savings account, you can get a solid interest rate and your money grows even faster, thanks to compound interest. The higher your rate, the faster your money grows and the better the return you get.

CNBC Select chose the top HYSAs based on APY, fees, minimum balance requirements and more. See our methodology for more information on how we made our selections.

Who’s this for? UFB Portfolio Savings is ideal if you want easy access to your savings. Although the bank doesn’t have physical branches, it offers a free ATM card, giving you a way to access cash when needed.

Standout benefits: There is no cap on APYs, no monthly fees and no minimum deposit requirement. Savers can earn even more interest by opening a UFB checking account.

Who’s this for? The EverBank Performance Savings is great for maximizing the interest you earn through a high-yield savings account.

Standout benefits: This account also has no minimums required or monthly fees.

Who’s this for? The Western Alliance Bank High-Yield Savings Account is for you if you’re focused on maximizing your return, as it offers one of the highest savings rates we found and has just a $1 minimum deposit to open an account.

Standout benefits: There’s no cap to earning Western Alliance Bank’s high APY and there are no monthly fees.

Who’s this for? The SoFi Checkings and Savings account stands out for offering a valuable welcome bonus after you set up direct deposit payments: Earn $50 or $300 bonus: New and existing checking and savings members who have not previously enrolled in direct deposit with SoFi are eligible to earn a cash bonus when they set up direct deposit of at least $1,000 during the direct deposit bonus period. Cash bonus will be based on the total amount of direct deposit. *Collect cash bonus of $50 or $300 depending on direct deposit amount.

Standout benefits: As a SoFi member, there are no account or overdraft fees*, up to $2 million of additional FDIC insurance, and two-day early paychecks.

Who’s this for? The Marcus by Goldman Sachs High-Yield Online Savings Account offers no fees, no minimum deposit requirement and easy mobile access. It’s one of the most straightforward savings accounts to use when all you want to do is grow your money with zero conditions attached.

Standout benefits: Marcus offers a strong APY and there’s no limit to the number of withdrawals or transfers you can make from your online savings account.

Who’s this for? The CIT Bank Platinum Savings Account offers a solid APY on balances of $5,000 or more, making it ideal for those with a large deposit.

Standout benefits: In addition to offering a competitive savings rate on a minimum balance of $5,000, the CIT Bank Platinum Savings has no monthly service fees. There’s a minimum account opening deposit of just $100.

Who’s this for? With the Varo Online Savings Account, you get access to two programs that automatically transfer money from your Varo bank account to your savings account: Save Your Pay, which automatically transfers a percentage of your paycheck into your savings, and Save Your Change, which rounds up checking account transactions to the nearest dollar and transfers the difference to savings.

Standout benefits: The Varo Online Savings Account offers zero fees or minimums and a strong APY on balances up to $5,000. To earn the high APY, you must have at least $1,000 in monthly direct deposits and a positive balance at the end of the month in your Varo bank accounts.

Who’s this for? If you prefer sticking to high-yield savings accounts offered by big-name banks because they’re familiar, the online *American Express High Yield Savings Account stands out.

Standout benefits: With the American Express High Yield Savings Account, you get a good savings rate for no minimum balance and no monthly fees, plus 24/7 customer service.

*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

Who’s this for? The Axos ONE Savings and Checking is great if you want to keep all your banking in one place while earning interest on both your savings and your checking — a rare perk. You’ll get the best rates if you meet the requirements, either by maintaining at least a $1,500 daily balance and receiving $1,500 in monthly direct deposits, or by keeping a $5,000 daily balance and receiving $5,000 in monthly external transfers or checks.

Standout benefits: This account charges no monthly maintenance fees, no minimum balance fees, no minimum opening deposit and no overdraft fees. Customers also have access to over 95,000 fee-free ATMs nationwide for convenient cash withdrawals.

A high-yield savings account is like a normal savings account but offers a higher interest rate, or APY, on your cash. With a higher APY, your money grows faster as it sits in your account. Note, however, that unlike with certificates of deposit (CDs), these interest rates are variable, meaning they can go up or down at any time.

Not only does your money earn a better return in a high-yield savings account than in traditional savings, but you still have access to your cash when you need it as you would in a normal savings account. Your money in a high-yield savings account is federally insured by the FDIC or NCUA, which means that deposits up to $250,000 are protected if the bank were to suddenly collapse.

• CDs: With a CD, you agree to leave your money in the bank for a fixed time — like 6 months or a year — in exchange for a higher interest rate than a savings account. Unlike high-yield savings accounts, you can’t take your money out early without paying a penalty.
• Money market accounts: Think of these as a mix between a savings and checking account. They usually pay better interest than traditional savings accounts and let you write a few checks or use a debit card. But they often require a higher minimum balance to avoid fees.
• Investment accounts: These include accounts like Roth IRAs, 401(k)s and regular brokerage accounts. They’re designed for longer-term saving and investing, which can help your money grow more over time. However, because they involve the stock market, your money’s value can go up and down, so there’s some risk involved.

At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed financial decisions. Every high-yield savings account list is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of savings and banking products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics. See our methodology for more information on how we choose the best high-yield savings accounts.

To determine which high-yield savings accounts offer the best return on your money, CNBC Select compared dozens of U.S. savings accounts offered by various financial institutions, including brick-and-mortar banks, online banks and large credit unions. Though most online banks don’t have physical branches, they often offer higher APYs, lower fees and overall better benefits than national brick-and-mortar banks.

We narrowed down our ranking by only considering those savings accounts that offer an above-average interest rate, no monthly maintenance fees and low (or no) minimum balance/deposit requirements.

While the accounts we chose in this article consistently rank among the highest APYs, we also compared each savings account across a range of features, including ease of use and account accessibility, as well as insurance policies and customer reviews when available. We also considered users’ deposit options and each account’s compound frequency. We took into account CNBC Select audience data when available, such as general demographics and engagement with our content and tools.

All accounts included on this list are FDIC- or NCUA-insured up to $250,000. Note that the rates and fee structures for high-yield savings accounts are not guaranteed forever; they are subject to change without notice and they often fluctuate per the Federal Reserve rate. Your earnings depend on any associated fees and the balance you have in your high-yield savings account. To open an account, most banks and institutions require a deposit of new money, meaning you can’t transfer the money you already had in an account at that bank.

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*Platinum Savings is a tiered interest rate account. Interest is paid on the entire account balance based on the interest rate and APY in effect that day for the balance tier associated with the end-of-day account balance. *APYs — Annual Percentage Yields are accurate as of January 9, 2026: 0.25% APY on balances of $0.01 to $4,999.99; 3.75% APY on balances of $5,000.00 or more. Interest Rates for the Platinum Savings account are variable and may change at any time without notice. The minimum to open a Platinum Savings account is $100.

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 12/31/2026. 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 https://www.sofi.com/legal/banking-rate-sheet. 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 https://www.sofi.com/legal/banking-rate-sheet. 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 3/30/2026. Rates variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.