Enter your balance and current rate — we'll show you what you're missing.
Americans have roughly $17.5 trillion sitting in bank deposit accounts. The vast majority of it is earning 0.01%–0.05% APY — the standard rate at Chase, Bank of America, and most traditional banks. Meanwhile, online high-yield savings accounts from institutions like Axos Bank, Marcus by Goldman Sachs, SoFi, and American Express offer 3.10%–5.00% APY on the same money, with the same FDIC insurance.
For a household with $30,000 in savings, that rate gap represents over $1,200 per year in interest they're not earning. Not because high-yield accounts are hard to get — they're not. There's no credit check, no minimum balance, and no lock-in period. The only barrier is knowing the opportunity exists.
Arca's calculator shows you exactly what your current account is costing you, and which account to switch to based on your balance. Enter your numbers above to see your personal opportunity cost in under 30 seconds.
As of Oct 12, 2026, $10,000 in savings earns $1 a year in a typical big-bank account (0.01% APY) and $500 in a top HYSA such as Leader Bank (5.00% APY with requirements*).
| Balance | Typical big bank0.01% | Leader Bank5.00%* | Differencea year |
|---|---|---|---|
| $5,000 | under $1 | $250 | +$250 |
| $10,000 | $1 | $500 | +$499 |
| $25,000 | $3 | $1,250 | +$1,248 |
| $50,000 | $5 | $2,500 | +$2,495 |
| $100,000 | $10 | $5,000 | +$4,990 |
*Leader Bank Zeugma Plus High Yield Savings pays 5.00% APY only with a linked checking account, direct deposit of $1,000+/mo, and a minimum opening deposit, plus other qualifying requirements. Leader Bank Zeugma Plus High Yield Savings's 5.00% APY is a promotional rate through December 31, 2026; after that the rate may change. The typical big-bank rate is the lowest standard savings rate among the big banks Arca tracks. One year of interest at today’s APY (balance × APY), rounded to whole dollars. All accounts are FDIC insured up to $250,000. | |||
A good savings APY beats the FDIC national average of 0.37% by a wide margin as of October 12, 2026. Top online high-yield savings accounts pay in the 3.10%–5.00% range. Leader Bank pays 5.00% APY, Axos Bank pays 5.00% APY, and EverBank pays 4.20% APY. Compare your account's APY directly against the top of that range. Arca charts this weekly alongside the FDIC average. Source: Arca Savings, updated October 12, 2026.
Switching from 0.01% APY to 4.20% APY at EverBank adds $419 per year on a $10,000 balance, $1,047.50 on $25,000, and $2,095 on $50,000 as of October 12, 2026 — for new accounts only, with no requirements. Leader Bank advertises 5.00% APY, a promotional rate, which requires a linked checking account, direct deposit of $1,000+/mo, a minimum opening deposit, and other conditions; otherwise it pays 2.50% APY. Arca charts advertised versus attainable rates weekly. Source: Arca Savings, updated October 12, 2026.
Yes, switching is worth it for any meaningful balance as of October 12, 2026. Moving $10,000 from a 0.01% APY account to a 5.00% APY account at Leader Bank earns $499 more per year. That promotional rate requires a linked checking account, direct deposit of $1,000+/mo, a minimum opening deposit, and other conditions. Opening at Axos, SoFi, or Marcus by Goldman Sachs takes 10–15 minutes with no credit check or lock-in. Source: Arca Savings, updated October 12, 2026.
Yes, high-yield savings accounts are FDIC insured up to $250,000 per depositor as of October 12, 2026. Axos Bank, Marcus by Goldman Sachs, American Express High Yield Savings, and SoFi all carry standard FDIC coverage. SoFi additionally extends coverage to $2 million through a partner-bank sweep network. The protection is identical to a Chase or Bank of America savings account. Source: Arca Savings, updated October 12, 2026.
Opening a high-yield savings account takes about 5–15 minutes online as of October 12, 2026. SoFi, Marcus by Goldman Sachs, and American Express each advertise roughly 5-minute applications with instant approval in most cases. You need a Social Security number, a government-issued ID, a US address, and an external checking account to fund the initial transfer. First deposits clear within 1–5 business days. Source: Arca Savings, updated October 12, 2026.
No, you do not need to close your old savings account when you open a high-yield account as of October 12, 2026. Most users open a new account at Axos, SoFi, or Marcus by Goldman Sachs and transfer the bulk of their balance via ACH, leaving the existing Chase or Bank of America account open with a small balance for direct deposits and recurring bill pay. Source: Arca Savings, updated October 12, 2026.
Arca is free because partner banks pay a referral commission when a user opens an account through Arca as of October 12, 2026. SoFi, Marcus by Goldman Sachs, and American Express compensate the referring site, not the user. Arca shows every qualifying account at its real APY rather than steering users toward higher-margin products. Arca provides information, not financial advice. Source: Arca Savings, updated October 12, 2026.
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