The rate is only half the answer.
Most comparison sites print a big number and bury what it takes to earn it. Here every APY is set beside the condition that governs it and the source it was read from — so you can tell an account that pays you from an account that advertises at you.
To earn itRequires qualifying direct deposit. Without it the rate drops sharply — check which tier applies before opening.
Read from NerdWallet — Best High-Yield Savings Accounts on 2026-08-24 · FDIC cert #26881 · the bank’s own page
High-yield savings accounts
Ranked by published APY. Read the conditions column before the rate: two accounts a tenth of a point apart are not comparable if one requires a salary routed through it and the other requires nothing at all.
Requires qualifying direct deposit. Without it the rate drops sharply — check which tier applies before opening.
On balances of $5,000 and above. Lower balances earn a much lower rate.
No balance or deposit conditions stated.
| Bank | APY | What it depends on | Fee | To open | To earn it | FDIC cert | Compounds | Read from |
|---|---|---|---|---|---|---|---|---|
| SoFi Checking and SavingsSalaried savers who can route a direct deposit | 3.80% | Requires qualifying direct deposit. Without it the rate drops sharply — check which tier applies before opening. | $0 | $0 | — | #26881 | daily | 2026-08-24unconfirmed |
| CIT Bank Platinum SavingsSavers holding $5,000 or more | 3.75% | On balances of $5,000 and above. Lower balances earn a much lower rate. | $0 | $100 | $5,000 | #58978 | daily | 2026-08-24unconfirmed |
| Marcus by Goldman Sachs Online SavingsA plain account with no qualifying conditions | 3.40% | Nothing stated | $0 | $0 | — | #33124 | daily | 2026-08-24unconfirmed |
| Ally Bank Savings AccountGoal-based saving with buckets and automation | 3.00% | Sources disagree on Ally’s current rate (3.00%–3.85% depending on the publication and date). Confirm on Ally’s own page before relying on this figure. | $0 | $0 | — | #57803 | daily | 2026-08-24unconfirmed |
| American Express High Yield SavingsNo minimum, no fees, familiar brand | 3.00% | Nothing stated | $0 | $0 | — | #27471 | daily | 2026-08-24unconfirmed |
| Capital One 360 Performance SavingsSavers who also want branch and ATM access | 3.00% | Applies to all balances. Rate is variable; source states effective 06/02/2026. | $0 | $0 | — | #4297 | monthly | 2026-08-24unconfirmed |
“To open” and “to earn it” are different numbers and are shown separately: CIT takes $100 to open the account but $5,000 before it pays the rate above. Each APY links to the source it was read from and the date it was read. A rate marked unconfirmed has not yet been checked against the bank’s own product page. Deposit rates are variable and change without notice — confirm the figure with the bank before opening an account.
Checking accounts with no monthly fee
Checking rarely competes on yield, so what is worth comparing is what the account costs to keep and what it demands each month before it pays its headline rate.
| Bank | APY | What it depends on | Fee | To open | To earn it | FDIC cert | Compounds | Read from |
|---|---|---|---|---|---|---|---|---|
| SoFi Checking and SavingsFee-free checking with APY and sign-up bonus | 0.50% | Nothing stated | $0 | $0 | — | #26881 | daily | 2026-08-24unconfirmed |
| Axos Bank Rewards CheckingHighest-APY checking with direct deposit | 3.30% | Top tier requires several qualifying activities each month. | $0 | $0 | — | #35546 | monthly | 2026-08-24unconfirmed |
| Discover Cashback DebitCashback rewards on everyday debit spending | 0.00% | Nothing stated | $0 | $0 | — | #5649 | n/a | 2026-08-24unconfirmed |
“To open” and “to earn it” are different numbers and are shown separately: CIT takes $100 to open the account but $5,000 before it pays the rate above. Each APY links to the source it was read from and the date it was read. A rate marked unconfirmed has not yet been checked against the bank’s own product page. Deposit rates are variable and change without notice — confirm the figure with the bank before opening an account.
Certificates of deposit
A CD trades access for certainty: the rate is fixed for the term, and taking the money out early costs a slice of the interest. Match the term to when the money is actually needed.
| Bank | APY | What it depends on | Fee | To open | To earn it | Term | FDIC cert | Compounds | Read from |
|---|---|---|---|---|---|---|---|---|---|
| Barclays Online CDNo-minimum CD with the highest fixed APY | 4.15% | Nothing stated | $0 | $0 | — | 12 months | #57203 | daily | 2026-08-24unconfirmed |
| Marcus by Goldman Sachs CDLocking in a high rate with a trusted institution | 4.00% | Nothing stated | $0 | $500 | — | 12 months | #33124 | daily | 2026-08-24unconfirmed |
| Ally Bank CDFlexible CD with no-penalty early withdrawal option | 3.90% | Nothing stated | $0 | $0 | — | 12 months | #57803 | daily | 2026-08-24unconfirmed |
“To open” and “to earn it” are different numbers and are shown separately: CIT takes $100 to open the account but $5,000 before it pays the rate above. Each APY links to the source it was read from and the date it was read. A rate marked unconfirmed has not yet been checked against the bank’s own product page. Deposit rates are variable and change without notice — confirm the figure with the bank before opening an account.
Ask instead of reading tables
The free BanksYouPick assistant explains APY, compounding, FDIC coverage and CD penalties in plain language, and answers from the same data published above. It will not tell anyone what to do with their money, and it will not quote a figure it cannot source. No account, no email. Open the full assistant →
Hi — I can explain how savings, checking and CD accounts work, and help you compare the accounts listed on BanksYouPick. Ask me anything about APY, fees, FDIC insurance or CD terms.
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Common questions
What is the highest savings APY listed here right now?
As of August 24, 2026, the highest rate in the savings table is 3.80% APY on SoFi Checking and Savings. It is conditional: Requires qualifying direct deposit. Without it the rate drops sharply — check which tier applies before opening. Every figure links to the source it was read from and the date it was read, and should be confirmed on the bank's own page before you act on it.
Why does this site show a condition next to every rate?
Because the advertised rate and the rate a saver actually earns are often different numbers. A headline APY can require a qualifying direct deposit, a minimum balance, or a set of monthly activities. BanksYouPick prints that requirement beside the rate rather than in a footnote, so two accounts can be compared on what they will really pay.
Where do BanksYouPick figures come from?
Each rate names the published source it was taken from and the date it was checked, both shown in the table. FDIC certificate numbers are verified automatically against the FDIC's own BankFind register. An automated check reads each bank's own rate page daily and flags any disagreement, which a person reviews before the published figure changes — rates are never updated automatically.
Is BanksYouPick free to use?
Yes, and no account is needed. BanksYouPick earns referral fees from some banks. That has no effect on the order accounts appear in, which follows the published rate, and no effect on what the assistant says.
What is the difference between FDIC and NCUA insurance?
FDIC insurance covers deposits at banks; NCUA insurance covers deposits at credit unions. Both protect up to $250,000 per depositor, per institution, per ownership category. BanksYouPick lists each account's FDIC certificate number so you can look the institution up yourself on FDIC BankFind.
Does daily compounding earn more than monthly compounding?
Not when both accounts quote an APY — and this is the single most common mistake in savings comparisons. APY already contains the compounding. Two accounts both advertising 3.80% APY pay the same interest over a year whether they compound daily, monthly or quarterly; the frequency is what produced the APY in the first place, not something added on top of it. Compounding frequency only matters when you are comparing nominal interest rates, which is why BanksYouPick compares APY to APY and never treats "compounds daily" as an advantage on its own.