American Express

Here are the best high-yield savings accounts I’d shortlist for a typical U.S. saver—favoring brands people actually use, reasonable APYs, no monthly fees, and less “sketchy teaser-rate” risk. Rates can change at any time, so verify the APY on the bank’s site right before opening.

My actual recommendations

If you want one account and don’t want to overthink it, I’d choose Marcus or Ally. Marcus is a great pure savings account; Ally is better if you also want checking, buckets, and a fuller online-bank setup.

If you already use Capital One, its 360 Performance Savings is convenient and reputable, even if you may find slightly higher APYs elsewhere. If you’re willing to route direct deposit, SoFi can be attractive—but only if you’ll consistently meet the requirements for the better rate.

I’d avoid chasing tiny APY differences—like moving money for an extra 0.05% or 0.10%—unless the account is equally easy to use. For an emergency fund, reliability, transfers, customer service, and FDIC coverage matter more than squeezing out the last few dollars.

Also: make sure your deposits stay within insurance limits. FDIC insurance generally covers $250,000 per depositor, per insured bank, per ownership category. (fdic.gov)

Best Savings Accounts (as of Late August 2026)

Savings account rates have been trending down in 2026 as the Fed has eased rates, but online banks still offer far better returns than traditional big banks. Here's a breakdown of what's actually worth considering right now.

The Rate Gap Is Still Huge

The average APY across all savings accounts as of Aug. 17, 2026, was 0.38%, while there were a number of high-yield savings accounts offering APYs of 4% and higher. Even worse, many national banks offer an APY of only 0.01% on their savings accounts — that's the case for JPMorgan Chase Bank, Bank of America and U.S. Bank, three of the largest U.S. banks. If you're using one of the "big 4" for savings, you're leaving significant money on the table.

Top Picks People Actually Use

Newtek Bank – Personal High Yield Savings Newtek Bank's Personal High Yield Savings was selected as the best savings account in NerdWallet's 2026 Best-Of Awards, with no monthly fee and a 4.20% APY — one of the highest rates around. One catch right now: due to "overwhelming demand," Newtek Bank is currently not accepting new applications, though interested customers can join a waitlist, and other Newtek products are still available.

Marcus by Goldman Sachs A long-time favorite for no-fuss saving. Marcus is one of the best no-minimum, no-fee, no-friction options, and Marcus wins on raw APY. Note that rates have come down — Marcus's Online Savings Account now pays 3.40% APY, down from 4.40% in May.

Ally Bank One of the most widely used online banks. The Ally Bank Savings Account has no minimum deposit required to open and zero monthly fees, with account holders able to maximize savings through round-ups, recurring transfers, and tools that analyze checking account spending to transfer "safe-to-save" money. It's also a good pick if you want a strong companion checking account.

SoFi Popular for people who want banking all in one app. In 2026, SoFi Bank, N.A. won NerdWallet's annual award for best overall bank. However, SoFi Checking & Savings gives you the highest combined rates in the category IF you direct-deposit paychecks — without direct deposit, the APY drops significantly.

Capital One 360 Performance Savings Great if you want the online rate but occasional in-person access. Capital One 360 Performance Savings is the best pick for savers who want online savings rates AND occasional branch support.

CIT Bank Platinum Savings Best if you can keep a higher balance. If you have $5K+ to park, CIT Bank Platinum Savings pays one of the highest published APYs — but maintain the $5K minimum strictly, because dropping below it cuts the rate sharply.

American Express High-Yield Savings A trusted brand many already have a card relationship with. The American Express High-Yield Savings Account offers a competitive 3% APY with no minimum opening deposit or minimum balance requirements, and interest compounds daily and is deposited monthly.

How to Choose

1. Emergency fund? Liquidity and reliability matter more than the top rate.
2. Want simplicity? A slightly lower APY with fewer requirements often wins in practice.
3. Higher balance saver? Tiered accounts may unlock higher yields.

Safety Check

The best savings accounts right now are usually the high-yield savings accounts (HYSAs) from names people actually recognize and use: CIT Bank, SoFi, Capital One, Ally, Marcus by Goldman Sachs, American Express, Bread Savings, and Synchrony.

If you want the most practical shortlist, these are the strongest picks based on a mix of rate, usability, and brand recognition:

• CIT Bank Platinum Savings — one of the highest widely cited rates, around 4.10% APY in current roundups.
• SoFi Checking and Savings — popular for its cash bonus, combo checking/savings setup, and up to 3.8% APY in some listings.
• Bread Savings — commonly listed for a high rate, around 3.95% APY, with a simple no-frills setup.
• Capital One 360 Performance Savings — a very common “big-brand” option, usually around 3.0% APY in these 2026 lists.
• Ally Savings — well known for digital tools and easy online banking, around 3.0% APY in Money’s roundup.
• Marcus by Goldman Sachs Online Savings — a familiar online-only brand, often around 3.4% to 3.65% APY depending on the list.
• American Express High Yield Savings — a “big name” choice that CNBC highlights for brand trust and simplicity.
• Synchrony Bank High Yield Savings — frequently used in “best of” comparisons and noted for solid overall features.

If you care most about “people actually use”, the most consistently mentioned mainstream brands across the 2026 roundups are SoFi, Capital One, Ally, Marcus, American Express, Synchrony, and CIT Bank.

A simple way to choose:

• Best overall rate: CIT Bank or Bread Savings.
• Best big-name choice: American Express or Capital One.
• Best app/digital experience: Ally or SoFi.
• Best simple no-fuss option: Marcus or Bread Savings.
• Best for checking + savings together: SoFi or Axos ONE.

Before opening one, verify two things: the account is FDIC- or NCUA-insured and the advertised APY still applies to your balance and location.