The best high-yield savings accounts of July 2026: Earn up to 4.21%

Editor's Note: APYs listed in this article are up-to-date as of the time of publication. CNBC Select will update as changes are made public.

With a high-yield savings account (HYSA), your money can earn more than 11 times the annual percentage yield (APY) you'd get from a traditional savings account. Today's top savings rate is a 4.21% APY offered by Axos ONE^® Savings and Checking, for example, compared to the current national average of 0.38% APY.

Whether you're building an emergency fund, saving for a major purchase or just looking to maximize your savings, choosing the right HYSA can make a meaningful difference. CNBC Select has picked the top HYSAs based on APYs, fees, minimum balance requirements, accessibility, customer experience and other criteria.

For more information on how we made our selections, read our methodology.

Who's this for? New and existing SoFi Checking and Savings members who haven't previously enrolled in direct deposit are eligible for a cash bonus of up to $400 with a direct deposit during the qualifying period.* Deposit $1,000 to earn a $50 bonus and $5,000 for the full $400.

Standout benefits: As a SoFi member, you can receive up to $2 million of additional FDIC insurance and paychecks two days early. You also won't pay account or overdraft fees.*

Who's this for? Not only does Happen Bank LevelUp Savings have one of the most robust APYs on the market, but it comes with a free ATM/debit card — a rarity for online savings accounts. Depending on your account status, you can withdraw up to $4,000 a day, well above the industry standard.

Standout benefits: While you need monthly deposits of $250 to enjoy the highest APY, there's no minimum account balance requirement.

Who's this for? Bread Savings offers a solid return with a low $100 minimum opening deposit and no monthly fee. And while some HYSA's limit how much of your money can earn the best return, you can earn Bread Savings' robust rate on your entire account balance.

Standout benefits: Enjoy free incoming wire transfers, unlimited mobile and ACH deposits and a highly rated mobile app and website.

Who's this for? If you like the familiarity and reach of a big-name financial institution, the *American Express High-Yield Savings Account is a straightforward way to earn a healthy APY with no minimums and no monthly fees.

Standout benefits: Unlike some HYSAs, there's no limit on the number of times you withdraw or transfer funds. And because it's part of the American Express ecosystem, AmEx cardholders can easily manage all their accounts on one app and enjoy world-class customer service 24/7.

*There is no minimum balance required to open your account, to avoid being charged a fee or to obtain the annual percentage yield (APY) disclosed to you.

Who's this for? If you want a high APY without any strings attached, EverBank Performance Savings delivers a competitive rate without requiring a minimum balance or direct deposit.

Standout benefits: Your account comes with a free ATM card and $15 in out-of-network ATM fee reimbursements (unlimited if you maintain a $5,000 daily balance).

Who's this for? If you're a hands-on investor, E*TRADE Premium Savings delivers a competitive APY and allows instant, seamless cash transfers between your savings and an E*TRADE investment account. Plus, there's never any maintenance fee or balance requirements.

Standout benefits: New accounts earn 4.00% APY for the first six months with promo code SAVING26. Receive a $400 cash bonus by depositing at least $20,000 in net-new funds by Sept. 30, 2026, and maintain the balance for at least 45 days. Accounts receive up to $500,000 in FDIC insurance through a multi-bank sweep.

Who's this for? If you want a no-fuss savings account with zero fees and no minimums, Marcus by Goldman Sachs Online Savings Account delivers exactly that.

Standout benefits: Marcus puts no limits on withdrawals or transfers and the backing of Goldman Sachs provides reassurance to savers who want a trusted name behind their account.

Who's this for? If you have a larger sum to deposit, CIT Bank Platinum Savings rewards you with an enhanced APY on balances of $5,000 or more.

Standout benefits: CIT Bank keeps costs low with no monthly fees and a minimum opening deposit of just $100. Plus, there are no monthly limits on deposits, withdrawals, or electronic transfers.

Who's this for? If you want to start earning a high APY without a big upfront commitment, Western Alliance Bank's High-Yield Savings Account lets you get started with as little as $1.

Standout benefits: There are no monthly fees and no caps on earning the advertised rate, so your full balance is always working for you.

Who's this for? If you want your checking and savings accounts working together under one roof, Axos ONE Savings and Checking lets you earn interest on both while keeping everything in one place. You'll unlock the top promotional rates by maintaining at least a $1,500 daily balance and receiving $1,500 in monthly direct deposits.

Standout benefits: Axos ONE comes with no minimum opening deposit, no monthly fees and no overdraft fees. Account holders enjoy access to over 95,000 fee-free ATMs nationwide, plus early payday benefits and expanded FDIC insurance for added peace of mind.

Who's this for? If you struggle to save, Varo high-yield savings accounts do the work for you. The "Save Your Pay" feature transfers a percentage of your paycheck directly to savings, while "Save Your Change" rounds up every checking transaction and deposits the difference.

Standout benefits: Varo's tiered APY rewards you for using it as your primary bank. Receive at least $1,000 in monthly direct deposits and you'll earn a stronger APY on balances of up to $5,000.

Who's this for? UFB Portfolio Savings comes with a free ATM card with access to over 90,000 fee-free ATMs nationwide, including Allpoint, MoneyPass and Chase machines.

Standout benefits: UFB doesn't cap its APY, require a minimum deposit or charge a monthly fee. And if you want to earn even more, you can pair the UFB Portfolio Savings with the UFB Freedom Checking.

A high-yield savings account is similar to a traditional savings account, but it offers an elevated annual percentage yield (APY). Your money is still federally insured by the FDIC or NCUA up to $250,000.

Most HYSAs are offered by online banks, which have lower overhead, so there are usually no monthly maintenance fees and low or no minimum balance requirements.

Unlike with certificates of deposit (CDs), the interest rate is variable, so money in an HYSA may not grow at the same rate as when you opened the account.

Savers still have access to the cash, but HYSAs are not intended for daily spending. It may take 1 to 2 business days for external transfers.

Because they combine safety, high and relative liquidity, HYSAs are considered the best place to house an emergency fund.

When choosing an HYSA, you're likely looking for the highest APY. While this is an important aspect, there are a handful of other factors to consider:

• APY caps: Some accounts only pay the top rate on up to a certain balance, like Varo at $5,000.
• Minimum deposit or balance requirements: Certain accounts require a minimum direct deposit or balance to unlock the advertised rate, so make sure you read the fine print.
• Fees: Look for monthly or maintenance fees that could eat into your earnings. Most top HYSAs charge none, but it's worth confirming.
• Access to your money: Some accounts limit the number of monthly withdrawals or take several business days to process transfers. If you need more flexibility, look for accounts with no transfer caps, like Marcus by Goldman Sachs.
• ATM access: If you want to be able to withdraw cash, accounts like UFB Direct and Axos ONE come with access to large fee-free ATM networks.
• Checking-savings combos: Some HYSAs pair with a checking account, which can simplify your finances and even unlock higher rates, but these may come with balance or deposit requirements to earn the top APY.​​​​​​​​​​​​​​​​

HYSAs are a good choice for anyone who maintains enough in their checking account to cover routine expenses and bills and has additional money they'd like to earn interest on. They're safer and more accessible than investing in the market, making them a good place for an emergency fund or to stash money for short- or medium-term savings goals, like a vacation or a down payment on a home.

They can also be a good parking spot for sinking funds for car insurance, property taxes or other predictable costs. Because there are a few extra steps involved in withdrawing money, you're less likely to tap it for everyday purchases.

Because returns are limited, an HYSA isn't a good place for a retirement fund or other long-term investment. The additional steps required to access funds (and the limits on withdrawals) also make it poorly suited for daily spending.

Funds in a high-yield savings account at an FDIC-insured institution are insured for up to $250,000 per depositor, making them safe from loss for most people.

You can lose purchasing power, however, if the APY falls below the rate of inflation. If your HYSA earns 4% and inflation hits 6%, you're essentially losing 2% in buying power. That would be true of any savings account, however, and your balance will still increase.

There's no one-size-fits-all answer to how much to keep in a high-yield savings account, but they're typically best for money you'll need in the near term. If you're building an emergency fund, a good target is three to six months of essential expenses — though some people may want to have more.

A high-yield savings account is also a smart spot for shorter-term goals, like a vacation, a car or a down payment on a home. You might also want a buffer for unexpected expenses like car repairs or medical bills.

Here's an example:

1. Emergency fund (6 months): $24,000
2. Vacation fund: $3,000
3. Car maintenance fund: $2,000

Beyond that, your money is likely to perform better in a brokerage account, which historically outpaces savings account interest. Keep in mind, accounts are only FDIC-protected up to $250,000.

Aside from high-yield savings accounts, there are other ways to save money and earn interest:

• CDs: With a certificate of deposit, you agree to funds untouched for a set time, anywhere from six months to five years or longer, in exchange for a higher interest rate. Unlike HYSAs, early withdrawals typically incur a penalty.
  
• Money market accounts: MMAs are a hybrid between a savings and a checking account. They usually have better APRs than traditional savings accounts and let you write checks or use a debit card. In most cases, however, you'll need to maintain a higher minimum balance to avoid fees.
  
• Investment accounts: IRAs, 401(k)s and regular brokerage accounts are designed for longer-term investing, but they are subject to market volatility.
  

At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice to help them make informed financial decisions. Every high-yield savings account list is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of savings and banking products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics. See our methodology for more information on how we choose the best high-yield savings accounts.

To determine which high-yield savings accounts offer the best return, CNBC Select has compared dozens of savings accounts from banks, credit unions and online institutions.

We narrowed our picks to high-rate accounts with no monthly maintenance fees and low (or no) minimum balance or deposit requirements.

We also compared each account across a range of features, including:

• APY
• Minimum deposit or balance requirements
• Balance caps
• Fees
• Compound frequency
• Deposit and withdrawal options
• Account accessibility
• ATM access
• Bonuses
• Other benefits
  

We also took CNBC Select audience data into account when available, such as general demographics and engagement with our content and tools.

Catch up on CNBC Select's in-depth coverage of credit cards, banking and money, and follow us on TikTok, Facebook, Instagram and Twitter to stay up to date.

*Platinum Savings is a tiered interest rate account. Interest is paid on the entire account balance, based on the interest rate and APY in effect that day for the balance tier associated with the end-of-day account balance.

*APYs (Annual Percentage Yields )are accurate as of January 9, 2026: 0.25% APY on balances of $0.01 to $4,999.99; 3.75% APY on balances of $5,000.00 or more. Interest Rates for the Platinum Savings account are variable and may change at any time without notice. The minimum to open a Platinum Savings account is $100.

* 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). Cash 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 satisfied 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. Direct Deposit Promotion begins on 5/15/2026 and will be available through 12/31/26. See full bonus and annual percentage yield (APY) terms at sofi.com/banking/checking-offer/

*SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC. SoFi members with Eligible Direct Deposit can earn up to 3.10% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 3.10% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 5/28/26. There is no minimum balance requirement. Fees may reduce earnings. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.

*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, as described in the FDIC's regulations. 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. *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

*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 https://www.sofi.com/legal/banking-rate-sheet