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 U.S. Bank's 0.05%.
† 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% |
| — | U.S. Bank (your current bank) | 0.05% |
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 | U.S. Bank0.05%APYYour current bank | ||
|---|---|---|---|
| $5,000 | $2.50/yr | $210.50/yr | $187.50/yr |
| $10,000 | $5/yr | $421/yr | $375/yr |
| $25,000 | $12.50/yr | $1,052.50/yr | $937.50/yr |
| $50,000 | $25/yr | $2,105/yr | $1,875/yr |
| $100,000 | $50/yr | $4,210/yr | $3,750/yr |
Personalize the gap.
Compared at U.S. Bank's 0.05% standard APY vs. Axos Bank's 4.21% APY. Simple interest.
That's $2,080 over five years, just by switching where the dollars sit.
Why does U.S. Bank pay so little on savings?
U.S. Bank Smartly® Savings pays 3.00% APY on a $10,000 balance as of August 11, 2026 — but only when paired with a linked U.S. Bank Smartly Checking account (or another qualifying U.S. Bank product). Without that linked product, the same savings account drops to 0.05% APY. The two-tier structure is designed to keep customers' primary banking relationship at U.S. Bank: the headline rate looks competitive in advertising, but it only materializes for customers who also keep a U.S. Bank checking account and meet the qualifying activity. With a regional Midwest-and-West footprint, U.S. Bank competes mainly on relationship retention inside its core markets rather than by bidding for deposits on a standalone yield basis.
What about U.S. Bank's higher-tier savings accounts?
U.S. Bank's headline-tier product is the Smartly® Savings account paired with a Bank Smartly Checking relationship — 3.00% APY on a $10,000 balance as of August 11, 2026. Without the linked checking account, the same Smartly Savings drops to 0.05% APY. The account also carries a $5 monthly service fee and a $5,000 minimum balance. U.S. Bank's strongest branch presence is in Minnesota, Oregon, Washington, Idaho, and the broader Midwest; customers outside those markets often find branches limited or absent altogether. Even at the 3.00% with-relationship rate, U.S. Bank falls 121 basis points short of the 4.21% APY at Axos Bank and 80 basis points short of the 3.80% APY at SoFi.
Where U.S. 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 $416 more a year than U.S. 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.