High-yield savings, ranked by APY
As of August 11, 2026, the top high-yield savings accounts pay 3.40%–4.21% APY — Axos Bank at 4.21%, SoFi at 3.80%, CIT Bank at 3.75% — versus the FDIC national average of 0.38% and TD Bank's 0.02%.
† 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 June 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 (3.80% requires Recurring direct deposit (payroll, pension, gov't benefit) OR $5,000 in qualifying deposits every 31 days. Required to earn 3.10% base APY; also unlocks 0.70% APY boost for up to 6 months (promo for new members only, account opened 3/31/2026–12/31/2026, boost set up within 60 days). Without either, rate is 0.80% APY. direct deposit and Paired SoFi Checking Account (auto-opened); 3.10% base) | 3.80% |
| 3 | 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% |
| 4 | Axos Summit Savings | 3.75% |
| 5 | Marcus (Goldman Sachs) | 3.40% |
| — | TD Bank (your current bank) | 0.02% |
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 | TD Bank0.02%APYYour current bank | ||
|---|---|---|---|
| $5,000 | $1/yr | $210.50/yr | $187.50/yr |
| $10,000 | $2/yr | $421/yr | $375/yr |
| $25,000 | $5/yr | $1,052.50/yr | $937.50/yr |
| $50,000 | $10/yr | $2,105/yr | $1,875/yr |
| $100,000 | $20/yr | $4,210/yr | $3,750/yr |
Personalize the gap.
Compared at TD Bank's 0.02% standard APY vs. Axos Bank's 4.21% APY. Simple interest.
That's $2,095 over five years, just by switching where the dollars sit.
Why does TD Bank pay so little on savings?
TD Bank, N.A. is the US retail subsidiary of Toronto-Dominion Bank, and it has always competed on convenience rather than yield — the "America's Most Convenient Bank" positioning, branch hours that run into evenings and weekends, and a dense East Coast footprint from Maine to Florida. That branch network is the product, and it is expensive to run: the extended hours and the physical estate behind them are funded in part by the spread between what TD pays depositors and what it earns lending the money out. A customer who chose TD for a branch open on a Sunday does not leave over an APY, which is precisely why the APY can stay where it is. TD Simple Savings pays 0.02% APY as of August 15, 2026 and carries a $5 monthly service fee.
What about TD Bank's higher-tier savings accounts?
TD's higher-tier product is TD Signature Savings, which reaches 0.10% APY on a $10,000 balance as of August 15, 2026 — but only with the Rate Bump that requires a linked TD checking account, and only inside the $10,000–$24,999.99 balance band. The account carries a $15 monthly maintenance fee, waived with a $10,000 minimum daily balance or a linked TD Beyond Checking or TD Complete Checking account. Even with the bump applied and the fee waived, Signature Savings pays about a fortieth of the 4.21% APY at Axos Bank.
Where TD Bank 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 $419 more a year than TD Bank.
| 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 3.80 percent APY. 3.10 percent base, plus 0.70 percent with conditions. |
| Go to SoFi (opens sofi.com in a new tab) |
See detailsHide details for SoFi High-Yield Savings AccountEarn 3.80% APY now, dropping to 3.10% APY when the intro period ends on December 31, 2026.
| |||
Axos Summit SavingsAxos Summit Savings · Member FDIC | 3.75 percent APY. Variable rate, no conditions. |
| Go to Axos Summit Savings (opens axosbank.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.