Compare your bank's savings rate
As of , Chase, Bank of America, Wells Fargo, U.S. Bank, Truist, TD Bank, and M&T Bank paid 0.01%–0.05% APY on standard savings. The top high-yield savings account on Arca's table, Zeugma Plus High Yield Savings at Leader Bank, paid 5.00% APY, which earns $500 a year in interest on a $10,000 balance. It is a promotional rate that requires a linked checking account, direct deposit of $1,000+/mo, a minimum opening deposit, and other conditions.
How do big banks' savings rates compare?
As of Nov 9, 2026, U.S. Bank paid the highest standard savings rate among the big banks Arca tracks, 0.05% APY; the lowest was 0.01% APY.
| Bank | StandardAPY | Top tierAPY | Top-tier monthly fee |
|---|---|---|---|
| ChaseTop tier: Premier Savings | 0.01% | 0.02%Must have linked eligible account | $25.00 |
| Bank of AmericaTop tier: Advantage Savings | 0.04% | 0.04% | $8.00 |
| Wells FargoTop tier: Platinum Savings | 0.01% | 0.05%Must have linked Premier Checking account | $12.00 |
| U.S. BankTop tier: Smartly® Savings – Relationship Rate | 0.05% | 2.00%Requires Bank Smartly Checking or another qualifying product; $5,000+ balance | $5.00 |
| TruistTop tier: Truist One Savings | 0.01% | 0.01% | $5.00 |
| TD BankTop tier: TD Signature Savings | 0.02% | 0.10%Requires a linked TD checking account | $15.00 |
| M&T BankTop tier: M&T Relationship Savings | 0.01% | 0.01% | $7.50 |
| For referenceTop high-yield savings, no requirements | 4.20% at EverBank Performance Savings | ||
Every fee listed can be waived. Every rate is the APY on a $10,000 balance. | |||
Which high-yield savings accounts pay the most?
| 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.
| |||
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.
| |||
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.
| |||
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.
| |||
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.
| |||
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.
See all current rates →Why does each big bank pay what it pays?
Chase
Chase is the largest US bank by assets, and that scale is exactly why its standard savings account pays just 0.01% APY — deposits flow in regardless of rate. The Premier Savings tier nudges the rate up only fractionally, and only if you also maintain a linked Chase Premier Plus or Premier Platinum Checking account. The structure is built to keep deposits, not to grow them.
See full Chase comparison →Bank of America
Bank of America's Preferred Rewards program ties account perks to investment balances held at Merrill — not to your savings balance alone. Those perks accrue to credit cards and investments rather than the savings rate, so Advantage Savings stays put no matter how much you consolidate at Merrill. The standard rate sits at 0.04% APY, and even Diamond-tier members earn rates that fall far short of any top HYSA.
See full Bank of America comparison →Wells Fargo
Wells Fargo's standard Way2Save savings pays just 0.01% APY on a $10,000 balance. Its relationship-tier Platinum Savings reaches only 0.05% APY, and only with a linked Wells Fargo Premier Checking account holding the rate in place. Step-ups across balance tiers are negligible. The product structure is engineered so almost no retail customer ever clears a competitive rate.
See full Wells Fargo comparison →U.S. Bank
U.S. Bank Smartly® Savings advertises 2.00% APY on balances of $5,000–$24,999.99, but only customers who also keep a linked U.S. Bank Smartly Checking account earn that rate. Without the linked checking, the same savings account drops to 0.05% APY — near the floor that Chase and Bank of America sit at. The two-tier structure is engineered to retain U.S. Bank's primary-banking relationship rather than to compete on standalone yield. For comparison, Leader Bank pays 5.00% APY, a promotional rate, and requires a linked checking account, direct deposit of $1,000+/mo, a minimum opening deposit, and other conditions.
See full U.S. Bank comparison →Truist
Truist is the one bank here whose second savings account costs more and pays exactly the same. Confidence Savings — the checkless, no-overdraft product, openable only alongside a Truist Confidence Account — pays 0.01% APY with no monthly maintenance fee. Truist One Savings, the flagship, pays 0.01% APY at every balance tier in its published disclosure and adds a $5 monthly fee with four waiver paths. Six years after the BB&T–SunTrust merger, the deposit book is stable enough that neither product needs a competitive rate.
See full Truist comparison →TD Bank
TD sells convenience — evening and weekend branch hours down the East Coast — and prices its savings accordingly. TD Simple Savings pays 0.02% APY on a $10,000 balance. Signature Savings reaches 0.10% APY, but only with a linked TD checking account triggering the Rate Bump and only inside the $10,000–$24,999.99 band, and it carries a $15 monthly fee. The convenience is real; it is paid for out of the interest.
See full TD Bank comparison →M&T Bank
M&T grew across the Northeast by buying other banks' branch networks, People's United Financial in 2022 most recently, which is a way of acquiring depositors that never required winning them on rate. Relationship Savings pays 0.01% APY and charges $7.50 a month unless you keep $500 or link an M&T checking account. Its step-up product, Premium Savings, has no APY published on mtb.com at all — the tier table renders its headers with the values blank, ZIP code entered or not.
See full M&T Bank comparison →Frequently asked questions
Why do big banks pay so little on savings?
Big banks pay 0.01%–0.05% APY on standard savings because their deposit bases are stable regardless of rate. Chase sits at 0.01% APY and Bank of America at 0.04% APY, while online banks compete on rate — Leader Bank pays 5.00% APY, a promotional rate, as of November 9, 2026 and requires a linked checking account, direct deposit of $1,000+/mo, a minimum opening deposit, and other conditions. Source: Arca Savings, updated November 9, 2026.
How much can I earn by switching from a big bank to a high-yield savings account?
Switching from 0.01% APY at Chase to 5.00% APY, a promotional rate, at Leader Bank, which requires a linked checking account, direct deposit of $1,000+/mo, a minimum opening deposit, and other conditions, adds $1,247.50 a year on a $25,000 balance, $2,495 on a $50,000 balance, and $4,990 on a $100,000 balance as of November 9, 2026. Source: Arca Savings, updated November 9, 2026.
Are high-yield savings accounts as safe as a big bank?
Yes — high-yield savings accounts carry the same FDIC insurance as Chase or Bank of America: $250,000 per depositor per institution as of November 9, 2026. SoFi additionally extends coverage to $2 million through a partner-bank sweep network. Axos Bank, Marcus by Goldman Sachs, and American Express High Yield Savings all carry standard FDIC coverage. Source: Arca Savings, updated November 9, 2026.
Will switching savings affect my checking account or credit cards at my big bank?
No. Opening a high-yield savings account at Axos Bank, SoFi, or Marcus by Goldman Sachs has no impact on your Chase, Bank of America, Wells Fargo, U.S. Bank, Truist, TD Bank, or M&T checking, credit cards, mortgages, or rewards status as of November 9, 2026. 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.
How much interest does a $10,000 savings balance earn at a big bank?
A $10,000 savings balance earns $1 a year at Chase, which pays 0.01% APY on standard savings, and $4 at Bank of America, which pays 0.04% APY, as of November 9, 2026. Source: Arca Savings, updated November 9, 2026.
Arca may earn a commission from banks when you open an account through our links.