Which pays more in 2026 — big banks or high-yield savings accounts?
Top high-yield savings accounts pay 3.20%–5.00% APY as of November 9, 2026, against 0.01%–0.05% APY for the standard savings tier at a big US bank. Top online HYSAs are advertising 3.20%–5.00% APY; Chase sits at 0.01% APY and Bank of America at 0.04% APY on standard savings, Wells Fargo Platinum Savings pays 0.05% (with linked Premier Checking required), and U.S. Bank Smartly® Savings pays 2.00% only on balances of $5,000–$24,999.99 and only when paired with Bank Smartly Checking, otherwise 0.05%.
Today's top high-yield savings rates
| Account | Max APY ↓ | Yearly interest on $10,000 | Bank site |
|---|---|---|---|
Zeugma Plus High Yield Savings Leader Bank · Member FDIC Requirements: Linked checking · Direct deposit · +4 more | 5.00% APY 2.50% without requirements | $500 a year on a $10,000 balance | Visit site |
See details for Zeugma Plus High Yield SavingsZeugma Plus High Yield Savings pays up to 5.00% APY as of November 9, 2026, and requires a linked checking account, direct deposit of $1,000+/mo, and a minimum opening deposit. Earn 5.00% APY as a promotional rate through December 31, 2026; after that the rate may change.
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Axos ONE® Savings Axos Bank · Member FDIC Requirements: Linked checking · Direct deposit · +2 more | 5.00% APY 1.00% after the intro period | $500 a year on a $10,000 balance | Visit site |
See details for Axos ONE® SavingsAxos ONE® Savings pays up to 5.00% APY as of November 9, 2026, and requires a linked checking account and direct deposit or qualifying deposits. Earn 5.00% APY now, dropping to 1.00% APY once the intro period ends.
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SoFi High-Yield Savings Account SoFi · Member FDIC Requirements: Linked checking · Direct deposit New accounts only | 4.40% APY 3.30% after Dec 31, 2027 | $440 a year on a $10,000 balance | Visit site |
See details for SoFi High-Yield Savings AccountSoFi High-Yield Savings Account pays up to 4.40% APY as of November 9, 2026, for new accounts, and requires a linked checking account and direct deposit or qualifying deposits. Earn 4.40% APY now, dropping to 3.30% APY when the intro period ends on December 31, 2027.
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EverBank Performance Savings EverBank · Member FDIC Full rate, no requirements New accounts only | 4.20% APY | $420 a year on a $10,000 balance | Visit site |
See details for EverBank Performance SavingsEverBank Performance Savings pays 4.20% APY as of November 9, 2026, for new accounts, with no minimum balance, no direct deposit required, and no linked checking account required.
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Axos Summit Savings Axos Bank · Member FDIC Requirements apply — see details New accounts only | 4.01% APY 3.75% after the intro period | $401 a year on a $10,000 balance | Visit site |
See details for Axos Summit SavingsAxos Summit Savings pays up to 4.01% APY as of November 9, 2026, for new accounts. The qualifying conditions are listed below. Earn 4.01% APY now, dropping to 3.75% APY once the intro period ends.
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For reference Biggest banks (standard savings) Chase, Bank of America, Wells Fargo | 0.01%–0.04% APY | $1–$4 a year on a $10,000 balance | |
One year of interest on $10,000 at today's APY, rounded to the dollar. Each bank provides its own FDIC insurance; Arca is not a bank and does not hold deposits.
What rates are big banks paying right now?
Chase and Bank of America have kept their standard savings rates near zero through both the 2020–2022 low-rate period and the 2023–2026 high-rate period. Wells Fargo and U.S. Bank advertise materially higher relationship rates — but only with a linked checking account. The published rates as of November 9, 2026:
- Chase Savings: 0.01% APY on all balances on the standard tier; relationship tiers add a little to the rate but do not approach HYSA levels.
- Bank of America Advantage Savings: 0.04% APY at the base tier; Preferred Rewards tiers do not push the savings rate meaningfully above that.
- Wells Fargo Platinum Savings: 0.05% APY on a $10,000 balance, available only when paired with a Wells Fargo Premier Checking account; the rate barely moves across balance tiers, so even large balances stay far below high-yield levels.
- U.S. Bank Smartly® Savings: 2.00% APY on a $10,000 balance (the rate applies to balances of $5,000–$24,999.99), but only when paired with a linked Bank Smartly Checking account; without that linked checking, the same savings account pays 0.05% APY.
These banks fund a large branch and ATM network that online-first banks do not, and they price the savings account assuming most customers will accept the rate to keep their primary banking relationship in one place.
What rates are top high-yield accounts paying right now?
The accounts in the Arca rate table pay 3.20%–5.00% APY as of November 9, 2026:
- Axos Bank ONE Savings — 5.00% APY. Earned with direct deposit of $1,500+/month and a $1,500+ daily balance. FDIC insured.
- SoFi Savings — 4.40% APY. No fees, no minimum balance. The 4.40% tier requires a recurring direct deposit or $5,000+/month in qualifying deposits; otherwise the rate drops. FDIC insurance up to $2M via partner-bank sweep.
- EverBank Performance Savings — 4.20% APY. No fees, no minimums, no tier requirements. Variable rate. FDIC insured.
- CIT Bank Platinum Savings — 3.75% APY. Available on balances of $5,000 or more. $100 to open. No fees, no monthly maintenance.
- Axos Summit Savings — 4.01% APY. No fees, no minimums, no tier requirements. Variable rate. FDIC insured.
- Marcus by Goldman Sachs — 3.50% APY. No fees, no minimums, no tier requirements. No mobile check deposit and no debit card — funding is ACH, wire, or mailed check.
- American Express HYSA — 3.20% APY. No fees, no minimums. No debit card, no mobile check deposit, 24/7 US-based phone support. You do not need an Amex card to open the account.
- Ally Bank Online Savings — 3.20% APY. No fees, no minimums. Established online-only bank with strong mobile and customer-service reputation.
All of them are FDIC insured. Variable rates — these will move with the federal funds rate.
How big is the dollar gap on a typical balance?
On a $25,000 balance — roughly the median emergency-fund target for a US household with $5,000 of monthly expenses — the annual gap between the lowest big-bank standard rate, 0.01% APY, and the top rate on Arca's table, Leader Bank at 5.00% APY, is $1,247.50 per year.
As of Nov 9, 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. | |||
What do you give up by switching to a high-yield account?
Most online HYSAs do not offer a debit card, ATM access, or in-person branches. Marcus by Goldman Sachs and American Express HYSA do not support mobile check deposit; SoFi, Axos Bank, Ally Bank, and CIT Bank do. Most are designed to hold cash that earns interest while you spend from a separate checking account, not to be a primary checking replacement.
Other tradeoffs to verify on each bank's site before opening:
- Transfer speed. External ACH transfers typically settle in 1–5 business days. Same-day transfers are rare across banks; same-bank transfers are usually instant.
- Tier requirements. Some accounts (Axos Bank at 5.00%, SoFi at 4.40%) require a direct deposit or balance threshold to earn the advertised top rate. Without it, the rate drops to a lower tier.
- Variable rates. Every advertised APY in this post can change without notice. Compare again before opening, and again whenever the federal funds rate moves.
- Funding options. Wire transfers may carry a fee; debit-card funding is uncommon at HYSAs; mailed checks are slow but accepted at most.
How to compare against your current account
Arca's savings calculator compares your current balance and APY against the live HYSA rate table and shows the annual and five-year dollar gap, plus the per-account features above. The numbers in this post update every time the rate table is changed, with the comparison date stamped in the header.
Frequently Asked Questions
Why do big banks pay so little on savings accounts?
Big banks have no competitive pressure to raise savings rates because their massive existing deposit bases keep flowing in regardless of the rate. Chase pays 0.01% APY and Bank of America 0.04% APY on standard savings as of November 9, 2026, while Chase alone holds about $2.4 trillion in deposits. Wells Fargo Platinum Savings pays 0.05% APY only with a linked Premier Checking account. Source: Arca Savings, updated November 9, 2026.
How much more does a high-yield savings account pay than Chase or Bank of America?
On a $10,000 balance, Chase's 0.01% APY earns about $1 a year as of November 9, 2026, while Axos Bank's 5.00% APY earns $500 — a $499 annual gap. SoFi at 4.40% APY pays $440 a year, Marcus by Goldman Sachs at 3.50% APY pays $350, and American Express High Yield Savings at 3.20% APY pays $320. Source: Arca Savings, updated November 9, 2026.
Is it worth switching from a big bank to a high-yield savings account?
Yes for almost anyone with a balance above $1,000. A $10,000 balance earns about $499 more per year at Axos Bank's 5.00% APY than at Chase's 0.01% APY as of November 9, 2026. SoFi (4.40% APY), Marcus by Goldman Sachs (3.50% APY), and American Express High Yield Savings (3.20% APY) all pay hundreds of times more than a big-bank standard tier. Source: Arca Savings, updated November 9, 2026.
Are high-yield savings accounts as safe as Chase or Bank of America?
Yes, when FDIC insured. Axos Bank, Marcus by Goldman Sachs, SoFi, and American Express High Yield Savings are all FDIC insured up to $250,000 per depositor per institution as of November 9, 2026 — the same protection you have at Chase or Bank of America. Source: Arca Savings, updated November 9, 2026.
Which big bank pays the highest standard savings rate?
On standard savings, U.S. Bank pays the most at 0.05% APY, followed by Bank of America at 0.04% APY and TD Bank at 0.02% APY. Chase, Wells Fargo, Truist, and M&T Bank pay 0.01% APY as of November 9, 2026. U.S. Bank's advertised 2.00% APY applies only to balances of $5,000–$24,999.99 and requires a linked Bank Smartly Checking account. Source: Arca Savings, updated November 9, 2026.
Rates are sourced from each bank's public product page and verified manually. APYs are variable and can change at any time.