High-yield savings, ranked by APY
As of September 28, 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 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 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% |
| — | 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 | $195/yr |
| $10,000 | $2/yr | $421/yr | $390/yr |
| $25,000 | $5/yr | $1,052.50/yr | $975/yr |
| $50,000 | $10/yr | $2,105/yr | $1,950/yr |
| $100,000 | $20/yr | $4,210/yr | $3,900/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 September 28, 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 September 28, 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 a small fraction of the 4.21% APY at Axos Bank.
Top high-yield savings rates vs. TD Bank
On $10,000, EverBank Performance Savings (3.90% APY) earns about $390 a year with no requirements. TD Simple Savings (0.02% APY) earns about $2.
| Account | Max APY ↓ | A year on $10,000 | Bank site |
|---|---|---|---|
Axos ONE® Savings Axos Bank · Member FDIC Requirements: Linked checking · Direct deposit · +1 more | 4.21% APY 1.00% without requirements | $421 a year on $10,000 | Visit site |
See details for Axos ONE® SavingsAxos ONE® Savings pays up to 4.21% APY as of September 28, 2026, and requires a linked checking account and direct deposit.
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SoFi High-Yield Savings Account SoFi · Member FDIC Requirements: Direct deposit · Linked checking · +1 more | 4.20% APY 3.30% after Dec 31, 2026 | $420 a year on $10,000 | Visit site |
See details for SoFi High-Yield Savings AccountSoFi High-Yield Savings Account pays up to 4.20% APY as of September 28, 2026, and requires direct deposit and a linked checking account. Earn 4.20% APY now, dropping to 3.30% APY when the intro period ends on December 31, 2026.
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EverBank Performance Savings EverBank · Member FDIC Full rate, no requirements | 3.90% APY | $390 a year on $10,000 | Visit site |
See details for EverBank Performance SavingsEverBank Performance Savings pays 3.90% APY as of September 28, 2026 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 Full rate, no requirements | 3.75% APY | $375 a year on $10,000 | Visit site |
See details for Axos Summit SavingsAxos Summit Savings pays 3.75% APY as of September 28, 2026 with no minimum balance, no direct deposit required, and no linked checking account required.
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CIT Platinum Savings CIT Bank · Member FDIC Requirements: Min balance | 3.75% APY 0.25% below the minimum balance | $375 a year on $10,000 | Visit site |
See details for CIT Platinum SavingsCIT Platinum Savings pays up to 3.75% APY as of September 28, 2026, and requires a minimum balance.
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For reference TD Simple Savings | 0.02% APY | $2 a year on $10,000 | |
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 →Questions, answered.
What is TD Bank's current savings account APY?
TD Simple Savings pays 0.02% APY as of September 28, 2026. On a $10,000 balance that earns $2 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 28, 2026.
Does TD Signature Savings pay a higher rate?
TD Signature Savings pays 0.10% APY on a $10,000 balance as of September 28, 2026, with TD Beyond Checking or another linked TD checking account required for the Rate Bump. It also carries a $15 monthly maintenance fee, waived with a $10,000 minimum daily balance. Axos Bank pays 4.21% APY with no linked account required. Source: Arca Savings, updated September 28, 2026.
Is TD Bank in the US the same as TD in Canada?
TD Bank, N.A. is the US subsidiary of Toronto-Dominion Bank and is FDIC insured up to $250,000 per depositor as of September 28, 2026, separately from its Canadian parent. Its US savings rate is set independently: TD Simple Savings pays 0.02% APY, against 4.21% APY at Axos Bank. Source: Arca Savings, updated September 28, 2026.
Will switching savings accounts affect my TD checking account or mortgage?
No. Opening a high-yield savings account at Axos Bank, SoFi, or Marcus by Goldman Sachs has no impact on your TD Bank checking account, mortgage, credit cards, or TD Beyond Checking benefits. Source: Arca Savings, updated September 28, 2026.
How long does it take to transfer money from TD Bank?
A standard ACH transfer from TD Bank to Axos Bank, Marcus by Goldman Sachs, or SoFi typically clears in 1–3 business days. You initiate it from either side once the new account is open. Source: Arca Savings, updated September 28, 2026.
How much interest does TD Bank pay per month on $10,000?
TD Bank pays about $0.17 per month on a $10,000 savings balance — $2 a year at 0.02% APY as of September 28, 2026. EverBank Performance Savings pays about $32.50 a month, or $390 a year, on the same balance. The monthly difference is roughly $32.33. Source: Arca Savings, updated September 28, 2026.
Is TD Bank's savings account good for an emergency fund?
No — TD Simple Savings is safe but costly for an emergency fund. It pays 0.02% APY as of September 28, 2026, so a $10,000 emergency fund earns $2 a year, against $390 at EverBank Performance Savings. TD Simple Savings also charges $5 a month unless you keep a $300 minimum daily balance. Both are FDIC insured to $250,000. Source: Arca Savings, updated September 28, 2026.
How do I calculate interest on a TD Bank savings account?
Multiply your balance by the APY. TD Simple Savings pays 0.02% APY as of September 28, 2026, so $10,000 earns $2 a year and $25,000 earns $5. 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 28, 2026.