What is a High Yield Savings Account?
A high-yield savings account is a great way to grow your savings faster, as it usually offers a higher interest rate than traditional savings accounts. Many are offered by online banks, which helps keep fees low, and you can often start earning interest with no big balance requirements. Plus, just like regular savings accounts, your money is typically protected by FDIC insurance, giving you peace of mind while your savings grow.
Compare Online Savings Accounts
Below, we've compared some of the top-rated online banks offering high-yield savings accounts, so you can easily see which ones provide the best interest rates, low fees, and flexible terms to help you grow your savings faster.
SoFi's Disclosures:
1. Up to $400 Direct Deposit Bonus
New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are 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). Direct Deposit Promotion begins on 5/15/2026 and will be available through 12/31/2026. See full bonus and annual percentage yield (APY) terms at sofi.com/banking/checking-offer/
2. APY Disclosures
Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 5/28/26. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at sofi.com/legal/banking-rate-sheet
3. Fee Policy
We do not charge any account, service, or maintenance fees for SoFi Checking and Savings. We do charge transaction fees for outgoing wire transfers, Instant Transfers, and global remittance transfers. Our fee policy is subject to change at any time. See the SoFi Bank Fee Sheet for details at sofi.com/legal/banking-fees/
4. Additional FDIC Insurance
SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at SoFi.com/banking/fdic/sidpterms. See list of participating banks at SoFi.com/banking/fdic/participatingbanks.
5. ATM Access
We've partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs in the Allpoint network. You will not be charged a fee when using an in-network ATM; however, third-party fees may be incurred when using out-of-network ATMs.
6. Early Access to Direct Deposit Funds
Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.
7. Overdraft Coverage
Overdraft Coverage is automatically offered to SoFi Checking and Savings account holders who receive at least $1,000 or more in Eligible Direct Deposits within a rolling 31 calendar day period on a recurring basis. Members enrolled in Overdraft Coverage may be covered for up to $50 in negative balances on SoFi Bank debit card purchases only.
8. 0.70% Savings APY Boost
Earn up to 3.80% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.10% APY) for up to 6 months. Open a new SoFi Checking & Savings account with Eligible Direct Deposit by 12/31/26. Rates variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.
Marcus by Goldman Sachs® Disclosures:
Annual Percentage Yield
Annual Percentage Yield as of July 9, 2026. APY may change at any time before or after account is opened. Maximum balance limits apply.
Marcus Referred Rate Boost — Terms
The Marcus Referred Rate Boost is a promotional APY increase of 1.00%, on top of the stated Online Savings Account APY (currently 3.40% APY), for a period of 3 months. Upon expiration of the 3-month Promotional Rate Period, the Online Savings Account will revert to earning the Online Savings Account APY available at that time. An account that earned one Marcus Referred Rate Boost would earn a combined APY of 4.40%, assuming the Online Savings Account APY remained the same for the remaining 9 months.
New Customer Eligibility
If you have not had a Marcus Online Savings Account or CD in the last 12 months, you can earn a 1.00% APY Rate Boost for 3 months when you use this referral link to open a new Online Savings Account. You must use this link to earn the Rate Boost. Goldman Sachs Bank USA, Member FDIC. All deposit products provided by Goldman Sachs Bank USA, Salt Lake City Branch.
NoFilterFinance is an independent, advertiser-supported content brand and may receive compensation for some links to products and services throughout this page. Opinions expressed are the author's alone, not those of a third-party entity, and have not been reviewed, approved, or otherwise endorsed by any financial institution. Offers may be subject to change without notice. This is not financial advice. For more information, see our full disclaimer.
