WiseIQ Editorial Team
Reviewed by certified financial experts · Updated March 2026
Savings
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The national average savings account rate is just 0.46% APY — but the best high-yield savings accounts are paying over 10x that. If your money is sitting in a traditional bank account, you are leaving hundreds of dollars per year on the table. Here are the best options available right now.
Top High-Yield Savings Rates — February 2026
HIGHEST RATE PICK
SoFi High-Yield Savings AccountUp to 4.60% APY with direct deposit. No minimum balance. No monthly fees. FDIC insured up to $2M.
Open Account — Earn Up to 4.60% APY →
WiseIQ may earn a referral fee. APY subject to change.
Rates verified May 2026 · Updated weekly
| Bank | APY | Min. Balance | Monthly Fee | |
|---|---|---|---|---|
| Marcus by Goldman Sachs | 4.50% | $0 | None | Open → |
| Ally Bank | 4.35% | $0 | None | Open → |
| SoFi Savings | 4.60% | $0 | None | Open → |
| Capital One 360 | 4.25% | $0 | None | Open → |
| National Average | 0.46% | Varies | Often $5–$15 | — |
How much more could you earn?
On a $10,000 balance: a traditional bank at 0.46% APY earns $46/year. Marcus at 4.50% APY earns $450/year — a difference of $404 for doing nothing except moving your money.
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Expert Insight
Based on our analysis of thousands of consumer financial profiles, the most common mistake people make is focusing solely on the interest rate without considering total loan cost, fees, and repayment flexibility. Always compare the APR — not just the rate — and read the fine print on prepayment penalties before signing.
What Makes a High-Yield Savings Account Worth It
The best high-yield savings accounts share four characteristics: a competitive APY, no monthly maintenance fees, no minimum balance requirement, and FDIC insurance up to $250,000. All of the accounts in our comparison meet these criteria.
Marcus by Goldman Sachs — Highest-Rated Overall — Based on WiseIQ's Methodology
Marcus consistently ranks among the highest-paying savings accounts in the country. There are no fees of any kind, no minimum deposit, and your money is FDIC insured. The only drawback is that Marcus does not offer a checking account, so you will need to link an external bank for transfers (which typically take 1–3 business days).
SoFi — Top Pick for Full Banking — Based on WiseIQ\'s Methodology
SoFi's savings rate is among the highest available, and it comes with a checking account, early direct deposit, and a debit card. If you want to consolidate your banking into one place, SoFi is the strongest option.
Ally Bank — Top Pick for Customer Service — Based on WiseIQ\'s Methodology
Ally has been a leader in online banking for over a decade. Their savings account rate is competitive, and they offer 24/7 customer support — rare among online banks. Ally also offers CDs, money market accounts, and checking, making it a strong full-service option.
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Is a High-Yield Savings Account Safe?
Yes. All accounts in our comparison are FDIC insured up to $250,000 per depositor, per bank. This means your money is protected even if the bank fails. Online banks are just as safe as traditional banks in this regard — the FDIC does not distinguish between them.
Editorial Disclosure: WiseIQ may earn a referral commission when you click on partner links and open financial accounts. APY rates are accurate as of the publication date and subject to change. Always verify current rates directly with the financial institution.