High-yield savings, ranked by APY
As of September 24, 2026, the top high-yield savings accounts pay 3.75%–4.21% APY — Axos Bank at 4.21%, SoFi at 4.20%, EverBank at 3.90% — versus the FDIC national average of 0.38% and Chase's 0.01%.
† Conditions — Axos: $1,500/mo direct deposit · CIT: $5,000 min balance · SoFi: linked checking + direct deposit
National average · FDIC, published monthly. FDIC, as of August 2026
| Rank | Bank | APY |
|---|---|---|
| 1 | Axos Bank (4.21% requires Linked Axos ONE® Checking Account Required and At least $1,500 in total monthly qualifying direct deposits AND average daily balance of at least $1,500 in Axos ONE® Checking. direct deposit; 1.00% base) | 4.21% |
| 2 | SoFi (4.20% requires Recurring direct deposit (payroll, pension, gov't benefit) OR $5,000 in qualifying deposits every 31 days. Required to earn 3.30% base APY; also unlocks 0.90% promo boost. direct deposit and Linked SoFi Checking Account (auto-opened); 3.30% base) | 4.20% |
| 3 | EverBank | 3.90% |
| 4 | CIT Bank (3.75% requires $5,000 or more to earn 3.75% APY; balances below $5,000 earn 0.25% APY minimum balance for top apy; 0.25% base) | 3.75% |
| 5 | Axos Summit Savings | 3.75% |
| — | Chase (your current bank) | 0.01% |
What you'd earn at each, by balance.
What you'd earn at each, by balance.
Annual interest = principal × APY, simple interest. All accounts FDIC insured up to $250,000.
| Balance | Chase0.01%APYYour current bank | ||
|---|---|---|---|
| $5,000 | $0.50/yr | $210.50/yr | $195/yr |
| $10,000 | $1/yr | $421/yr | $390/yr |
| $25,000 | $2.50/yr | $1,052.50/yr | $975/yr |
| $50,000 | $5/yr | $2,105/yr | $1,950/yr |
| $100,000 | $10/yr | $4,210/yr | $3,900/yr |
Personalize the gap.
Compared at Chase's 0.01% standard APY vs. Axos Bank's 4.21% APY. Simple interest.
That's $2,100 over five years, just by switching where the dollars sit.
Why does Chase pay so little on savings?
Chase is the largest US bank by deposits — roughly $2.4 trillion in deposit base — and at that scale money flows in regardless of the rate offered. There is zero competitive pressure to raise the savings APY when the depositors are already there. Chase also operates the country's largest branch footprint, around 4,700 physical locations, and that real estate costs billions a year to maintain. The margin between what Chase pays depositors and what it earns on loans helps fund that branch network. The result, as of September 24, 2026, is that Chase has paid 0.01% APY — the regulatory floor for an interest-bearing account — for years on end. There is no structural incentive for that to change.
What about Chase's higher-tier savings accounts?
Chase's higher-tier product is Chase Premier Savings, which pays just 0.02% APY as of September 24, 2026 and only to customers who hold a linked Chase Premier Plus or Sapphire Checking account. The standard Chase Savings account itself carries a $5 monthly service fee, waived with a $300 minimum daily balance or a linked Chase checking account. Even at the Premier tier, 0.02% APY is still hundreds of times lower than the rates available at top high-yield savings accounts. The tier exists to retain deposits across products, not to reward savers.
Where Chase customers are moving their savings.
Every account below is FDIC insured to $250,000, with the same daily access you have today. On a $10,000 balance, the top rate earns about $420 more a year than Chase.
| Requirements to earn the maximum APY | Apply | ||
|---|---|---|---|
Axos ONE® SavingsAxos Bank · Member FDIC | Up to 4.21 percent APY. 1.00 percent base, plus 3.21 percent with conditions. |
| Go to Axos Bank (opens axosbank.com in a new tab) |
See detailsHide details for Axos ONE® Savings
| |||
SoFi High-Yield Savings AccountSoFi · Member FDIC$0 minimum to open | Up to 4.20 percent APY. 3.30 percent base, plus 0.90 percent with conditions. |
| Go to SoFi (opens sofi.com in a new tab) |
See detailsHide details for SoFi High-Yield Savings AccountEarn 4.20% APY now, dropping to 3.30% APY when the intro period ends on December 31, 2026.
| |||
EverBank Performance SavingsEverBank · Member FDIC | 3.90 percent APY. Variable rate, no conditions. |
| Go to EverBank (opens everbank.com in a new tab) |
Ties break toward the account with the higher guaranteed rate. Deposit insurance is provided by each bank listed, not by Arca Savings, which is not a bank and does not accept deposits.
Questions, answered.
What is Chase's current savings account APY?
Chase's standard savings account pays 0.01% APY as of September 24, 2026 — one of the lowest rates among major US banks. On a $10,000 balance, that earns $1 per year, versus roughly $421 at a 4.21% APY high-yield savings account like Axos Bank, or $420 at a 4.20% account like SoFi. Source: Arca Savings, updated September 24, 2026.
Will switching savings accounts affect my Chase checking account or credit cards?
No. Opening a high-yield savings account at another institution has no effect on your Chase checking account, credit cards, or any other Chase products. You can keep your Chase relationship intact while moving savings to Axos Bank, Marcus by Goldman Sachs, SoFi, or American Express High Yield Savings. Source: Arca Savings, updated September 24, 2026.
Is it safe to move my money out of Chase?
Yes, as long as your new account is FDIC insured — Axos Bank, Marcus by Goldman Sachs, SoFi, and American Express High Yield Savings all are. FDIC insurance covers up to $250,000 per depositor per institution, the same protection you have at Chase. Source: Arca Savings, updated September 24, 2026.
Does Chase ever offer a higher savings rate?
Chase offers a Premier Savings account that pays slightly more for customers with a linked Chase Premier Plus or Sapphire Checking account, but the Premier rate is just 0.02% APY as of September 24, 2026 — still hundreds of times lower than the 4.21% APY at Axos Bank or 4.20% APY at SoFi. Source: Arca Savings, updated September 24, 2026.
How long does it take to transfer money from Chase to a high-yield savings account?
A standard ACH transfer from Chase to Axos Bank, Marcus by Goldman Sachs, or SoFi typically clears in 1–3 business days. You initiate the transfer from either side after opening the new account. Source: Arca Savings, updated September 24, 2026.
How much interest does Chase pay per month on $10,000?
Chase pays about $0.08 per month on a $10,000 savings balance — $1 a year at 0.01% APY as of September 24, 2026. EverBank Performance Savings pays about $32.50 a month, or $390 a year, on the same balance. The monthly difference is roughly $32.42. Source: Arca Savings, updated September 24, 2026.
Is Chase's savings account good for an emergency fund?
No — Chase Savings is safe but costly for an emergency fund. It pays 0.01% APY as of September 24, 2026, so a $10,000 emergency fund earns $1 a year, against $390 at EverBank Performance Savings. Chase Savings also charges $5 a month unless you keep a $300 minimum daily balance or link a Chase checking account. Both are FDIC insured to $250,000. Source: Arca Savings, updated September 24, 2026.
How do I calculate interest on a Chase savings account?
Multiply your balance by the APY. Chase Savings pays 0.01% APY as of September 24, 2026, so $10,000 earns $1 a year and $25,000 earns $2.50. APY already includes compounding, so no separate compounding step is needed. Arca's free calculator does this for any balance and compares it against current high-yield rates. Source: Arca Savings, updated September 24, 2026.