Top high-yield savings accounts offering rates up to 4.70%

Whether you are building an emergency reserve, setting aside cash for a major purchase or trip, preparing to buy gold or silver, or saving for retirement, a high-yield savings account can be worth a close look. It offers a simple way to earn meaningful returns.

Fortune, working with financial industry consultants at Curinos, tracks the highest savings account rates available. Below, you can review the current list of HYSAs and choose the one that best fits your needs.

Through our partnership with Curinos, an industry leader with more than 30 years in financial services, we monitor daily rates on savings accounts and CDs from a broad range of institutions. That steady flow of data helps us create a practical guide to accounts worth considering.

Although average savings account rates have moved up from the lows seen in earlier years, they remain well below the APYs offered by the most competitive high-yield savings accounts on our list.

It is worth noting that “high-yield savings account” is not an official product category. The term generally refers to any savings account at a bank or credit union that pays rates far above the industry average.

These accounts are often offered by online banks rather than institutions with physical branches. Because they do not have the cost of branch networks, and often offer fewer products, online banks can usually pass higher rates on to customers.

If you are comfortable banking online, moving to a high-yield savings account can significantly increase the interest you earn. Depending on your balance and the account’s APY, you could earn hundreds of dollars more each year than you would with a traditional savings account.

Here is a simple example of why HYSAs can be attractive. Imagine $5,000 left untouched for a year. The estimates below compare what that money might earn in an account with a 5.00% APY versus one with a 0.40% APY, assuming the rate remains unchanged.

The switch is relatively easy to make and can produce a clear financial payoff.

Could savings account rates decline?

Possibly. When the Federal Reserve changes its benchmark federal funds rate, many financial institutions tend to follow. After several rate cuts in late 2025, there is a real chance that some savings rates could also fall if banks anticipate further cuts.

Can I lose money in a high-yield savings account?

As long as the account is insured by the FDIC or NCUA, deposits are protected up to $250,000 per institution. Unlike stocks, your balance is not exposed to market swings, although inflation that runs ahead of your APY can still reduce your buying power.

Is a high-yield savings account still worthwhile?

Yes. Even after recent Fed cuts, many high-yield savings accounts still offer near or above 4.00% APY. They remain one of the best ways to earn solid interest while keeping your money easy to access. If you are willing to lock funds away for a set period, a CD may also be worth a look.

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Annual percentage yield (APY) is variable and may change at any time. Rates are current as of 9/23/26. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet

New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi may be eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received within 25 calendar days of your first Eligible Direct Deposit of $1 or more) or $400 (with at least $5,000 total Eligible Direct Deposits received within 25 calendar days of your first Eligible Direct Deposit of $1 or more). The bonus amount will be based on the total amount of Eligible Direct Deposit received within 25 calendar days of your first Eligible Direct Deposit of $1 or more. If you have met the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. The Direct Deposit Promotion begins on 5/15/2026 and will be available through 12/31/26. See full bonus and APY terms at sofi.com/banking/checking-offer/

6: 0.70% Savings APY Boost

Earn up to 4.40% Annual Percentage Yield (APY) on one SoFi Savings account with a 1.10% APY Boost (added to the 3.30% APY as of 10/20/26) for up to 6 months. Open your first SoFi Checking and Savings account and receive eligible direct deposits or qualifying deposits of $5,000 every 31 days by 12/31/27. Rates are variable and subject to change. Terms apply at sofi.com/banking#4. SoFi Bank, N.A. Member FDIC.

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Other fees, such as exchange fees, may apply. Please review our fee disclosure for a full list of fees.

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Probability of a member receiving $1,000 is 0.026%; if you do not make a selection within 45 days, you will no longer qualify for the promotion. Customers must fund their account with a minimum of $50.00 to qualify. The probability percentage is subject to decrease.

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