You’re looking at up to 5.00% APY on top high-yield savings accounts as of Jan. 21, 2026. To put that in perspective, that’s more than 10x higher than the FDIC-reported national average of 0.39%. For anyone trying to get real returns on their savings, the difference is substantial.
Whatever brought you here—whether it’s building an emergency fund saving for a major purchase like travel, putting away funds to invest in precious metals, or planning for retirement—keeping your money in a high-yield savings account is smart. You get solid returns without too much complexity or the risks associated with stock market investments and the like.
The three highest-APY accounts we’ve identified are as follows:
- Earn up to 5.00% with Varo Money.
- Earn up to 4.35% with Newtek Bank.
- Earn up to 4.31% with Axos Bank.
Today’s highest savings account rates
Fortune has partnered with the financial industry consultants at Curinos to give you an accurate look at the highest savings account rates on the market. Varo Money offers the highest APY, followed by Newtek Bank and Axos Bank rounding out the top three. Read on to see our full list of HYSAs and find the one that’s right for your needs.
What the Fortune/Curinos partnership means for you
We work with Curinos, which has a track record of more than thirty years analyzing financial services data, to bring you current rates on savings accounts and CDs from a long list of financial institutions. This daily reporting gives us the foundation to create a selection that actually helps you pick the right account for your situation.
History of savings account rates
While the average savings account rate has increased from the lows seen from 2020 to 2022, it’s still far below the APYs available on the most generous high-yield savings accounts on our list.
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Why should you choose a high-yield savings account?
A quick terminology note: There’s no official account type called a “high-yield savings account.” What we’re really talking about is banks and credit unions that happen to offer rates significantly higher than average. It’s just a label we use to make things clearer.
Most of the divide between traditional and high-yield accounts comes down to operations. Traditional banks run branch networks and offer everything under the sun—loans, checking, credit cards, you name it. High-yield providers are usually online-only, keep their offerings lean, and have no physical locations to maintain. That operational simplicity translates to better rates for you.
If you’re willing to handle your banking online, switching to a high-yield account can meaningfully increase what you earn. Depending on your deposit and APY, you could be looking at hundreds—or more—in extra interest annually compared to a standard savings account.
How much interest can you earn with a higher APY?
Let’s assume a hypothetical where you’ve got five grand sitting in savings a full year, and the APY doesn’t budge. The interest you’d earn with a 5.00% APY is dramatically different from what you’d earn if the account’s APY was a mere 0.40%. See the estimates below:
It’s a surprisingly painless change that can have a real impact on your bottom line.
What should you look for in a high-yield savings account?
Focus on these things when you’re choosing a HYSA:
- Competitive rates. Look for APYs that are actually going to move the needle on your earnings.
- Low or no minimums. Plenty of high-yield accounts don’t require a hefty opening deposit, making them accessible if you’re building your savings from scratch.
- Fee-free. Skip accounts that nickel-and-dime you with monthly maintenance charges—that money should stay in your account.
- Access to your funds. Verify that you can transfer your money when you need it. Pay attention to withdrawal caps and foreign ATM fees.
- Insurance. Check that your deposits are FDIC-protected at a bank or NCUA-protected at a credit union.
Note that any interest you earn will be taxable.
savings AccountCIT BankMember FDICAPY3.75 %January 20, 2026MIN. BALANCE FOR APY$ 100EST. EARNINGS$ 938Over 1 yearEarn up to $300 cash bonus with minimum deposit. Terms apply.
Savings AccountPiBankMember FDICAPY4.60 %January 19, 2026MIN. BALANCE FOR APY$ 0EST. EARNINGS$ 1150Over 1 year
Savings AccountNewtek BankMember FDICAPY4.35 %January 19, 2026MIN. BALANCE FOR APY$ 0EST. EARNINGS$ 1088Over 1 year
Frequently asked questions
Are savings account rates going to fall?
They could. Banks often adjust their rates based on what the Federal Reserve does. Given that the Fed began cutting rates in late 2025—a win for borrowers, a challenge for savers—it’s reasonable to expect that some savings account rates could head downward accordingly.
Can I lose money in a high-yield savings account?
As long as your account is FDIC- or NCUA-insured, you should be protected up to a $250,000 maximum per financial institution. Also, understand that your savings won’t fluctuate like stock prices, but inflation could erode what your money can buy if it outpaces your APY.
Is a high-yield savings account still worth it?
Yes, it is. Fed rate cuts aside, many high-yield savings accounts continue to offer APYs in the vicinity of 4.00%. These accounts are effectively the best straightforward option for growing your money safely while keeping it within reach. Though we’ll also note CDs are worth considering if you can afford to lock your money away for a set period of time.
