Which High-Yield Savings Account Has the Highest APY in July 2026?
Updated August 24, 2026 · every figure carries the source it was read from and the date it was read
BanksYouPick independently tracks annual percentage yield (APY), monthly fees, minimum deposit requirements, compound interest frequency, and FDIC insurance status for high-yield savings accounts across 50+ U.S. banks. The BanksYouPick comparison table below ranks accounts from highest to lowest APY as of August 24, 2026. All accounts compound interest daily and charge $0 in monthly maintenance fees. Each bank is listed with its FDIC certificate number for independent verification.
| 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.
How did BanksYouPick select these savings accounts?
BanksYouPick evaluates each high-yield savings account using a weighted scoring model: APY and rate value (35%), cost and account access (25%), trust signals including FDIC certificate verification (25%), and content freshness (15%). Only FDIC- or NCUA-insured accounts are eligible. BanksYouPick verifies all published rates directly from each issuing bank before ranking. Accounts with introductory teaser rates are noted separately from standard ongoing APYs.
What is the FDIC national average savings APY?
Online savings accounts pay several times what a typical branch savings account pays, and the accounts ranked here run from 3.00% to 3.80% APY. On a $10,000 balance, the gap between the top and bottom of this list alone is about $80.00 a year. These are the rates within the 9 institutions BanksYouPick currently tracks — not a survey of every U.S. bank.
Should I always choose the account with the highest APY?
Not always. BanksYouPick recommends considering the full picture: whether the APY requires qualifying direct deposits or minimum balances, the early withdrawal penalty structure for CDs, mobile app functionality, ACH transfer speed, and whether the rate is an introductory promotional offer or a standard ongoing rate. The best savings account is the one that matches a saver's specific liquidity needs, deposit size, and banking preferences. Compare BanksYouPick CD rates for locked-in rate options.