Best high-yield savings accounts in the US: rates read 29 October 2026
Online savings accounts compared on the APY each bank published, the balance needed to earn it, and the date each rate was set.
Quick answer
On $10,000 left for 12 months, CIT Bank Platinum Savings pays the most of the rates we could read, at 3.75% APY on balances of $5,000 or more, though CIT dates that rate 1 July 2026. Ally Online Savings pays 3.20% APY at every balance, dated 28 October 2026. Both far exceed the FDIC national average savings rate of 0.38%. Rates are variable.
Key points
- CIT Bank Platinum Savings pays 3.75% APY on $5,000 or more and 0.25% below, rates dated 1 July 2026.
- Ally Online Savings pays 3.20% APY at all balances, dated 28 October 2026.
- On $10,000 for a year, that is about $375 at CIT and $320 at Ally.
- The FDIC national average savings rate was 0.38% on 19 October 2026.
- Capital One's rate did not display when we read its page, so it is not ranked.
- Savings rates are variable and change without notice; check the current rate before opening.
What you would pay
Set your own numbers. The list below is ranked with this same calculator at our reference profile: $10,000 left untouched for 12 months at the published APY.
- CIT Bank Platinum Savings 3.75%$375.00
- Ally Online Savings 3.20%$320.00
- Capital One 360 Performance Savings—Rate not published on the page read
Regular published prices only. Introductory offers and tax are left out. Figures are arithmetic on the provider’s own numbers, not a recommendation.
The list, in order
Order follows the published method on How we rank. Providers cannot pay for a position.
CIT Bank Platinum Savings
A tiered online savings account paying 3.75% APY on balances of $5,000 or more and 0.25% below that, with a $100 minimum to open.
Suits: savers keeping at least $5,000 in the account. Watch for: CIT's page dates its rates "as of July 1, 2026", so check the current rate; below $5,000 it pays 0.25%.
- $5,000+
- 3.75% APY
- Under $5,000
- 0.25% APY
- Minimum to open
- $100
- Rate dated
- 1 Jul 2026
Ally Online Savings
A savings account paying the same 3.20% APY at every balance, with no minimum to open and no monthly fees.
Suits: savers who want one rate at any balance. Watch for: 10 limited withdrawals per statement cycle.
- APY
- 3.20%
- Minimum
- $0
- Monthly fee
- $0
- Rate dated
- 28 Oct 2026
Capital One 360 Performance Savings
A savings account with one rate on the whole balance, no minimum and no fees. Its APY did not display when we read the page.
Suits: savers who want no minimums and no fees. Watch for: we could not read its current rate, so it is not ranked; Discover's savings page now redirects here.
- APY
- Did not load
- Minimum
- $0
- Monthly fee
- $0
Figures read from each provider’s own page on 29 October 2026. Interest is taxable income. National average savings rate 0.38% (FDIC, 19 Oct 2026). Reference profile: $10,000 left untouched for 12 months at the published APY. Unranked entries publish no price that fits it.
- Marcus by Goldman Sachs, American Express and Synchrony — their savings pages could not be read on 29 Oct 2026. To be confirmed by hand.
High-yield savings accounts at online banks pay many times the national average. The catch is that the rate is variable, and some accounts pay the headline rate only above a minimum balance.
We ranked accounts by the interest $10,000 would earn over 12 months at each bank's published APY, using rates read from each bank's own page on 29 October 2026. Each rate carries the date the bank gives it. See how we rank.
| Account | APY | Rate dated | Interest on $10,000 for a year |
|---|---|---|---|
| CIT Bank Platinum Savings | 3.75% ($5,000+), 0.25% below | 1 July 2026 | ~$375 |
| Ally Online Savings | 3.20%, all balances | 28 October 2026 | ~$320 |
| Capital One 360 Performance Savings | Did not display | 28 October 2026 | Not ranked |
For comparison, the FDIC gave the national average savings rate as 0.38% on 19 October 2026.
CIT Bank Platinum Savings pays 3.75% APY on balances of $5,000 or more and 0.25% below, with a $100 minimum to open and no monthly fee. CIT says the rates are "accurate as of July 1, 2026", so check the current rate. CIT Bank is a division of First Citizens Bank.
Ally Online Savings pays 3.20% APY across all balance tiers, with no minimum and no monthly fee, and allows 10 limited withdrawals per statement cycle.
Capital One 360 Performance Savings applies one rate to the whole balance, with no minimums or fees, but its rate did not display when we read the page. Discover's savings page now redirects to it.
Each bank here is an FDIC member. The FDIC covers $250,000 per depositor, per insured bank, for each ownership category. Our guide on FDIC and FSCS protection explains how limits apply when banks share a charter.
Marcus, American Express and Synchrony could not be read on 29 October 2026. The savings interest calculator works out interest for your balance, our APY, AER and APR guide explains the terms, and the UK comparison covers easy-access accounts in pounds.
Keep reading
Best easy-access savings accounts in the UK: rates read 29 October 2026
Eight UK savings accounts compared on the AER each provider published, how much of it is a first-year bonus, and the limits on withdrawals.
Guide · US & UKAPY, AER and APR: how interest rates are quoted in the US and UK
What APY, AER, gross rate and APR mean, how compounding changes the numbers, and how to compare rates on the same basis.
Calculator · US editionSavings interest calculator
The same calculator on its own page, in dollars.
Questions
What is the highest savings rate right now?
Of the rates we could read on 29 October 2026, CIT Bank Platinum Savings paid the most, at 3.75% APY on balances of $5,000 or more, though its page dates that rate 1 July 2026. Ally paid 3.20% APY. Several large online banks could not be read, so other accounts may pay more.
What is APY?
APY, or annual percentage yield, is the yearly return on savings including the effect of compounding. It lets you compare accounts that pay interest at different frequencies on the same basis. Our guide on APY, AER and APR explains how it differs from an interest rate.
Is my money safe in an online savings account?
The banks in this list are FDIC members. The FDIC says its insurance covers $250,000 per depositor, per FDIC-insured bank, for each account ownership category. CIT Bank is a division of First Citizens Bank, so deposits at both count toward one limit.
Why does CIT pay less on small balances?
Platinum Savings is tiered: 0.25% APY below $5,000 and 3.75% at $5,000 or more. On $3,000 that is about $7.50 a year, against about $96 at Ally’s 3.20%. The savings interest calculator on this page shows which account pays more for your own balance and time frame.
Is savings interest taxed?
Yes. Interest on a US savings account is generally taxable income in the year it is paid, and banks report it on Form 1099-INT above a threshold. The interest figures on this page are shown before any tax. A qualified tax adviser can explain how it applies to your own return.