The best high-yield savings accounts of June 2026: Earn up to 5.00%

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 ten times the annual percentage yield (APY) you'd get from a traditional savings account. Even though rates aren't as high as in recent years, that still represents a significantly better return.

HYSAs are commonly available through online banks, which have less overhead and are eager to attract new depositors.

CNBC Select has picked the top HYSAs based on APYs, fees, minimum balance requirements and other criteria. See our methodology for more information on how we made our selections.

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 with a direct deposit of at least $1,000 during the direct deposit bonus period.* The bonus is $50 or $400, depending on the deposit amount.

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? The online *American Express High Yield Savings Account is a great option if you like the familiarity, variety and reach of a big-name financial institution.

Standout benefits: The American Express HYSA pairs a competitive APY with zero barriers, including no minimum deposit, no monthly fees and no balance required to earn the full rate. Round-the-clock customer service and the backing of a globally recognized brand make it a low-stress option for everyday savers. *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? EverBank Performance Savings is great for savers who want a high APY without jumping through hoops. Unlike other top-rated accounts, EverBank doesn't require a minimum balance or direct deposit to earn its full return.

Standout benefits: EverBank offers a competitive APY with no minimum balance requirements, no monthly fees and no conditions to earn the advertised rate.

Who's this for? The digital-only Marcus by Goldman Sachs Online Savings Account has no minimum deposit or account requirement and no monthly fees. Your account must be funded within 60 days of opening to avoid closure, however.

Standout benefits: There's no limit to the number of withdrawals or transfers you can make from your online account.

Who's this for? CIT Bank Platinum Savings offers a solid APY on balances of $5,000 or more, making it ideal for savers with larger deposits.

Standout benefits: CIT Bank Platinum Savings has no monthly service fees and a minimum opening deposit requirement of just $100.

Who's this for? Western Alliance Bank's High-Yield Savings Account is for savers focused on maximizing returns without a big upfront commitment. With a minimum opening deposit of just $1, it's accessible to almost anyone looking to start earning a high APY right away.

Standout benefits: There are no monthly account fees or caps on earning Western Alliance Bank's high APY.

Who's this for? Axos ONE Savings and Checking lets you keep all your accounts in one place and earn interest on both savings and your checking. You'll get the top rate if you maintain at least a $1,500 daily balance and receive $1,500 in monthly direct deposits or keep a $5,000 daily balance and receive $5,000 in monthly transfers or check deposits.

Standout benefits: There's no minimum opening deposit or monthly balance requirement, no maintenance fee and no charge for overdrafts. Customers have access to over 95,000 fee-free ATMs nationwide.

Who's this for? Varo savings accounts include access to Save Your Pay, which automatically transfers a percentage of your paycheck to your savings account, and Save Your Change, which rounds up checking account transactions to the nearest dollar and deposits the difference into your savings account.

Standout benefits: Varo's higher APY is designed to work alongside its automatic savings tools. If you have at least $1,000 in monthly direct deposits and maintain a positive balance, you'll earn a strong rate on balances up to $5,000. It's built for people who want their account to do the saving work for them.

Who's this for? Although UFB has no physical branches, a UFB Portfolio Savings account comes with access to a network of over 90,000 fee-free ATMs across the U.S., including Allpoint, MoneyPass, and Chase machines.

Standout benefits: UFB doesn't cap its elevated APY, require a minimum deposit or charge a monthly fee. Savers can earn even more by pairing a UFB Portfolio Savings with 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.

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 compared dozens of savings accounts from brick-and-mortar banks, credit unions and online banks.

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

We compared each account across a range of features, including ease of use, account accessibility, customer service, and bonuses. We also considered users' deposit options and each account's compound frequency.

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