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 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 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% |
| — | 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 | $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 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 September 28, 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.
Top high-yield savings rates vs. Truist
On $10,000, EverBank Performance Savings (3.90% APY) earns about $390 a year with no requirements. Truist Confidence Savings (0.01% APY) earns about $1.
| 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 Truist Confidence Savings | 0.01% APY | $1 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 Truist's current savings account APY?
Truist Confidence Savings pays 0.01% APY as of September 28, 2026. 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 28, 2026.
Does Truist One Savings pay a higher rate than Truist Confidence Savings?
No. Truist One Savings pays 0.01% APY at every balance tier as of September 28, 2026, the same rate as Confidence Savings, and adds a $5 monthly maintenance fee waived with a related Truist checking account, a $300 minimum daily ledger balance, a recurring $25 internal transfer, or being under 18. Axos Bank pays 4.21% APY with no monthly fee. Source: Arca Savings, updated September 28, 2026.
Do I need a Truist Confidence Account to open Confidence Savings?
Yes. Truist Confidence Savings is available only to customers who hold a Truist Confidence Account, the bank's checkless, no-overdraft account, as of September 28, 2026. Axos Bank, Marcus by Goldman Sachs, and SoFi each open a high-yield savings account with no linked checking requirement. Source: Arca Savings, updated September 28, 2026.
Will switching savings accounts affect my Truist checking account or loan?
No. Opening a high-yield savings account at Axos Bank, SoFi, or Marcus by Goldman Sachs has no impact on your Truist checking account, mortgage, credit cards, or any other Truist products. Source: Arca Savings, updated September 28, 2026.
Is a high-yield savings account as safe as Truist?
Yes. Axos Bank, Marcus by Goldman Sachs, SoFi, and American Express High Yield Savings are all FDIC insured up to $250,000 per depositor per institution as of September 28, 2026 — the same protection you have at Truist. Source: Arca Savings, updated September 28, 2026.
How much interest does Truist pay per month on $10,000?
Truist pays about $0.08 per month on a $10,000 savings balance — $1 a year at 0.01% 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 $32.42. Source: Arca Savings, updated September 28, 2026.
Is Truist's savings account good for an emergency fund?
No — Truist Confidence Savings is safe but costly for an emergency fund. It pays 0.01% APY as of September 28, 2026, so a $10,000 emergency fund earns $1 a year, against $390 at EverBank Performance Savings. Truist Confidence Savings carries no monthly fee at all. Both are FDIC insured to $250,000. Source: Arca Savings, updated September 28, 2026.
How do I calculate interest on a Truist savings account?
Multiply your balance by the APY. Truist Confidence Savings pays 0.01% APY as of September 28, 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 28, 2026.