High-yield savings accounts: Best rates and top picks for May 2026

There are multiple, lucrative high-yield savings accounts for savers to consider this month.

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High interest savings accounts are once again drawing attention as interest rates remain elevated compared to just a few years ago. While the Federal Reserve has begun easing its benchmark rate, savers can still find competitive yields that significantly outperform traditional savings accounts. That makes this a critical moment for anyone holding cash to reconsider where their money sits.At their core, high-yield savings accounts are designed to help your money grow faster without taking on market risk. These federally-insured deposit accounts typically offer rates far above the national average, which currently sits at just 0.38%, according to the FDIC. Today's top available high-yield savings rate, though, which is offered by Axos Bank, is substantially higher at 4.21%. Still, not all high-yield savings accounts are created equal and the interest rate is just one factor worth weighing. Whether you're building an emergency fund, saving for a home or just looking to stop leaving money on the table, the question is which high-yield savings account is actually worth opening right now?High-yield savings account rates: Key takeaways Current top APY: 4.21% Difference vs. national average: More than 10x higher FDIC/NCUA insured: YesRate type: VariableThe best high-yield savings accounts comparedRates and information verified May 13, 2026. Note: Savings yields differ depending on the bank. Estimated earnings are rounded to the nearest whole number and assume the rate remains constant for one year. All savings account rates are variable and subject to change at any time.Axos BankAPY: 4.21%*Minimum balance for APY: $1,500 avg daily balance + $1,500/mo direct depositAccess: Web/app; 90,000+ ATMsEst. Earnings on $10K (1 yr): $421Min. Deposit to Open: $0Bonus: N/AFixed or Variable: VariableMonthly fees: NoneBest For: Checking + savings bundleFDIC Insured: YesSoFiAPY: Up to 4.00%**Minimum balance for APY: NoneAccess: Web/appEst. Earnings on $10K (1 yr): Up to $400Min. Deposit to Open: $0Bonus: Up to $300 cash bonusFixed or Variable: VariableMonthly fees: NoneBest For: Everyday banking + savingsFDIC Insured: YesLendingClubAPY: Up to 4.00%***Minimum balance for APY: None (requires $250+/mo deposits)Access: Web/app; ATM card includedEst. Earnings on $10K (1 yr): Up to $400Min. Deposit to Open: $0Bonus: N/AFixed or Variable: VariableMonthly fees: NoneBest For: Disciplined monthly saversFDIC Insured: YesMarcus by Goldman SachsAPY: 3.50%Minimum balance for APY: NoneAccess: Web/appEst. Earnings on $10K (1 yr): $365Min. Deposit to Open: $0Bonus: N/AFixed or Variable: VariableMonthly fees: NoneBest For: No-fee, no-strings savingsFDIC Insured: YesSynchronyAPY: 3.40%Minimum balance for APY: NoneAccess: Web/app; optional ATM card; 400,000+ ATMsEst. Earnings on $10K (1 yr): $350Min. Deposit to Open: $0Bonus: N/AFixed or Variable: VariableMonthly fees: NoneBest For: Flexible access, no minimumsFDIC Insured: YesUFB DirectAPY: 3.26%Minimum balance for APY: NoneAccess: Web/app; 90,000+ fee-free ATMsEst. Earnings on $10K (1 yr): $326Min. Deposit to Open: $0Bonus: N/AFixed or Variable: VariableMonthly fees: NoneBest For: ATM access without branchFDIC Insured: Yes (via Axos Bank)American ExpressAPY: 3.20%Minimum balance for APY: NoneAccess: Web/appEst. Earnings on $10K (1 yr): $320Min. Deposit to Open: $0Bonus: N/AFixed or Variable: VariableMonthly fees: NoneBest For: Trusted brand, existing AmEx customersFDIC Insured: YesCapital One 360APY: 3.10%Minimum balance for APY: NoneAccess: Web/app; branches; Capital One CafésEst. Earnings on $10K (1 yr): $320Min. Deposit to Open: $0Bonus: N/AFixed or Variable: VariableMonthly fees: NoneBest For: Branch accessFDIC Insured: Yes* Promotional rate for Axos ONE bundle. Requires $1,500 monthly direct deposit and $1,500 average daily balance in checking; or $5,000 monthly deposits and $5,000 average daily balance. Base rate is 1.00% APY.** SoFi's 4.00% includes a limited-time 0.70% APY boost for new members for up to 6 months (boost added to standard 3.30% APY with eligible direct deposit). Without direct deposit or qualifying deposits, savings earns 1.00% APY.*** LendingClub LevelUp rate of 4.00% APY applies when $250 or more is deposited in the previous statement cycle's evaluation period. Standard rate is 3.00% APY.