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 Truist'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 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% |
| — | Truist (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 | Truist0.01%APYYour current bank | ||
|---|---|---|---|
| $5,000 | $0.50/yr | $210.50/yr | $187.50/yr |
| $10,000 | $1/yr | $421/yr | $375/yr |
| $25,000 | $2.50/yr | $1,052.50/yr | $937.50/yr |
| $50,000 | $5/yr | $2,105/yr | $1,875/yr |
| $100,000 | $10/yr | $4,210/yr | $3,750/yr |
Personalize the gap.
Compared at Truist'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 Truist pay so little on savings?
Truist was created by the 2019 merger of BB&T and SunTrust, the largest US bank merger since the financial crisis, and the years since have gone into consolidating two branch networks, two core systems, and two deposit books rather than competing for new money on rate. The savings pricing follows from that: a merged customer base that mostly stayed put through the integration is stable, low-cost funding, and lifting the savings APY would reprice all of it for no gain in retention. Truist Confidence Savings pays 0.01% APY as of August 15, 2026 — the regulatory floor for an interest-bearing account. The product is built around access rather than yield: it is Truist's checkless, no-overdraft savings account, and it can be opened only by customers who already hold a Truist Confidence Account.
What about Truist's higher-tier savings accounts?
Truist's other savings account, Truist One Savings, is the flagship — a $50 minimum opening deposit, bundled with Truist One Checking. It carries a $5 monthly maintenance fee, waived with a related Truist personal checking account, a $300 minimum daily ledger balance, a recurring $25 preauthorized internal transfer, or if you are under 18. Truist's published rate disclosure pays it 0.01% APY at every balance tier, from the first dollar to the top of the table — the same rate as Confidence Savings, which carries no monthly maintenance fee at all.
Where Truist 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 Truist.
| 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.