Banking
Best High-Yield Savings Accounts and CD Rates (2026)
The FDIC national average savings APY is 0.42%. The top online banks below currently pay up to 4.50% — about 11x the national average. On a $20,000 balance that gap is worth roughly $816 a year.
| Bank | Savings APY | 1-year CD | Monthly fee | Minimum | Account |
|---|---|---|---|---|---|
| 4.50% | 5.00% | No monthly fee | $0 | Review | |
| 4.40% | 5.05% | No monthly fee | $0 | Review | |
| 4.50% | 5.15% | No monthly fee | $0 | Review | |
| 4.25% | 4.80% | No monthly fee | $0 | Review | |
| 4.35% | — | No monthly fee | $0 | Review | |
| 4.25% | 4.75% | No monthly fee | $0 | Review | |
| 0.01% | 0.02% | $12.00/mo | $0 | Review | |
| 0.01% | 0.03% | $12.00/mo | $0 | Review | |
| National average | 0.42% | — | Varies | Varies | — |
Source: FDIC BankFind; Federal Reserve H.15 / U.S. Treasury via FRED.
Best savings accounts by category
Best overall
Best for: high-yield savings, no fees
Savings APY
4.50%
No monthly fee
- No monthly fees
- No minimum deposit
- Highly competitive APY
Best for no fees
Best for: high-yield savings with no fees
Savings APY
4.40%
No monthly fee
- Competitive APY
- No fees, no minimums
- FDIC insured
Best CD rates
Best for: CD laddering strategy
Savings APY
4.50%
No monthly fee
- Wide range of CD terms
- Competitive rates
- No minimum deposit on savings
Best branch network
Best for: full-service banking with branch access
Savings APY
0.01%
$12.00/mo
- Largest US bank by assets
- Nationwide branches and ATMs
- Strong credit card ecosystem
Rate trackers
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- Yield (50%). The advertised APY on savings and CDs, measured against the FDIC national average and current Treasury yields of the same maturity.
- Cost (30%). Monthly maintenance fees, minimum balances, overdraft charges and how easily fees can be waived.
- Experience (20%). Mobile app quality, transfer speed, ATM access, and whether a human can be reached quickly.
Methodology
Deposit rate context comes from the Federal Reserve H.15 release via FRED: 3-month, 6-month and 1-year Treasury yields are the closest free public benchmark for CD pricing of the same maturity.
Institution facts — charter date, total assets, deposits and FDIC insurance status — come from the FDIC BankFind API and are refreshed on a schedule.
Advertised APYs are recorded from each bank's own published rate sheet. Savings rates are variable and can change at any time, so treat any figure here as a starting point and confirm on the bank's site.
Sources: FDIC BankFind; Federal Reserve H.15 via FRED. American Community Survey 5-year estimates, 2026.
Frequently asked questions
What is a good savings account APY right now?
Anything at or above 4% is competitive. The FDIC national average savings rate sits well under 1%, because it includes the big branch banks that pay close to nothing. Online banks fund higher rates by skipping branch overheads.
Is my money safe in an online bank?
Yes, provided the bank is FDIC insured. Insurance covers up to $250,000 per depositor, per insured bank, per ownership category — identical protection to a branch bank. You can verify any institution by its FDIC certificate number.
Savings account or CD — which should I choose?
Use a savings account for money you may need at any time, such as your emergency fund. Use a CD only for money you can lock away for the full term, because early withdrawal usually costs several months of interest.
Do I pay tax on savings interest?
Yes. Interest is taxed as ordinary income at your federal rate, and by your state where it taxes income. Your bank issues a 1099-INT if you earn $10 or more in a year.
How often do savings rates change?
Online savings rates are variable and follow the Federal Reserve. When the Fed moves the federal funds rate, deposit rates usually follow within weeks. CD rates are fixed once you open the account.