High-yield savings, ranked by APY
As of November 9, 2026, the top high-yield savings accounts pay at least 400 times Wells Fargo's 0.01% APY. Leader Bank and Axos Bank pay the most, 5.00%, but both have requirements. EverBank pays 4.20% with no requirements (for new accounts only).
† Requirements
- Leader Bank: $1,000 a month in direct deposits and a Leader Bank checking account. 5.00% guaranteed through Dec 31, 2026.
- Axos ONE Savings: $1,500 a month in direct deposits and an Axos ONE Checking account. 5.00% is a promotional rate.
- SoFi: Direct deposit (or $5,000 in deposits a month) and a SoFi checking account. 4.40% through Dec 31, 2027, then 3.30%.
- Axos Summit Savings: Requirements are listed on Arca's rates page. 4.01% is a promotional rate.
National average · FDIC, published monthly. FDIC, as of September 2026
| Rank | Bank | APY |
|---|---|---|
| 1 | Leader Bank (requirements below) | 5.00% |
| 2 | Axos ONE Savings (requirements below) | 5.00% |
| 3 | SoFi (requirements below) | 4.40% |
| 4 | EverBank (no requirements) | 4.20% |
| 5 | Axos Summit Savings (requirements below) | 4.01% |
| — | Wells Fargo (your current bank) | 0.01% |
What you'd earn at each, by balance.
As of Nov 9, 2026, $10,000 in savings earns $1 a year in Wells Fargo Way2Save Savings (0.01% APY) and $420 in a top HYSA such as EverBank Performance Savings (4.20% APY).
| Balance | Wells Fargo0.01% | Leader Bank5.00%* | EverBank4.20% |
|---|---|---|---|
| $5,000 | under $1 | $250 | $210 |
| $10,000 | $1 | $500 | $420 |
| $25,000 | $3 | $1,250 | $1,050 |
| $50,000 | $5 | $2,500 | $2,100 |
| $100,000 | $10 | $5,000 | $4,200 |
*Leader Bank Zeugma Plus High Yield Savings pays 5.00% APY only with a linked checking account, direct deposit of $1,000+/mo, and a minimum opening deposit, plus other qualifying requirements. Leader Bank Zeugma Plus High Yield Savings's 5.00% APY is a promotional rate through December 31, 2026; after that the rate may change. EverBank Performance Savings pays this rate to new accounts only. One year of interest at today’s APY (balance × APY), rounded to whole dollars. All accounts are FDIC insured up to $250,000. | |||
Personalize the gap.
Compared at Wells Fargo's 0.01% standard APY vs. Leader Bank's 5.00% APY. Simple interest.
That's $2,495 over five years, just by switching where the dollars sit.
Why does Wells Fargo pay so little on savings?
Wells Fargo's savings business runs on relationship bundling rather than rate competitiveness. Its standard Way2Save account pays just 0.01% APY on a $10,000 balance as of November 9, 2026; the relationship-tier Platinum Savings reaches 0.05% APY, but only when the customer also holds a linked Wells Fargo Premier Checking account. Way2Save carries a $5 monthly service fee, waived with a $300 minimum daily balance; Platinum Savings' is $12, waived with $3,500. Compounding the lack of pressure: the Federal Reserve asset cap imposed after the 2016 fake accounts scandal is still in place as of November 9, 2026, constraining Wells Fargo's balance sheet growth and giving the bank even less reason than its peers to bid aggressively for new deposits. The savings account is treated as a retention product, not an earnings product.
What about Wells Fargo's higher-tier savings accounts?
Wells Fargo's higher-tier product is Platinum Savings, the relationship-rate version that requires a linked Wells Fargo Premier Checking account. Even at that tier the rate reaches only 0.05% APY as of November 9, 2026, and it stays under 0.10% APY across every retail balance band. The product is structured so the relationship requirement — not balance size — gates the rate, and even clearing it leaves the saver nearly a hundred times below a real high-yield account.
Top high-yield savings rates vs. Wells Fargo
On a $10,000 balance, Zeugma Plus High Yield Savings at Leader Bank (5.00% APY) earns about $500 a year. It is a promotional rate that requires a linked checking account, direct deposit of $1,000+/mo, a minimum opening deposit, and other conditions. Wells Fargo Way2Save Savings (0.01% APY) earns about $1.
| Account | Max APY ↓ | Yearly interest on $10,000 | Bank site |
|---|---|---|---|
Zeugma Plus High Yield Savings Leader Bank · Member FDIC Requirements: Linked checking · Direct deposit · +4 more | 5.00% APY 2.50% without requirements | $500 a year on a $10,000 balance | Visit site |
See details for Zeugma Plus High Yield SavingsZeugma Plus High Yield Savings pays up to 5.00% APY as of November 9, 2026, and requires a linked checking account, direct deposit of $1,000+/mo, and a minimum opening deposit. Earn 5.00% APY as a promotional rate through December 31, 2026; after that the rate may change.
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Axos ONE® Savings Axos Bank · Member FDIC Requirements: Linked checking · Direct deposit · +2 more | 5.00% APY 1.00% after the intro period | $500 a year on a $10,000 balance | Visit site |
See details for Axos ONE® SavingsAxos ONE® Savings pays up to 5.00% APY as of November 9, 2026, and requires a linked checking account and direct deposit or qualifying deposits. Earn 5.00% APY now, dropping to 1.00% APY once the intro period ends.
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SoFi High-Yield Savings Account SoFi · Member FDIC Requirements: Linked checking · Direct deposit New accounts only | 4.40% APY 3.30% after Dec 31, 2027 | $440 a year on a $10,000 balance | Visit site |
See details for SoFi High-Yield Savings AccountSoFi High-Yield Savings Account pays up to 4.40% APY as of November 9, 2026, for new accounts, and requires a linked checking account and direct deposit or qualifying deposits. Earn 4.40% APY now, dropping to 3.30% APY when the intro period ends on December 31, 2027.
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EverBank Performance Savings EverBank · Member FDIC Full rate, no requirements New accounts only | 4.20% APY | $420 a year on a $10,000 balance | Visit site |
See details for EverBank Performance SavingsEverBank Performance Savings pays 4.20% APY as of November 9, 2026, for new accounts, 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 Requirements apply — see details New accounts only | 4.01% APY 3.75% after the intro period | $401 a year on a $10,000 balance | Visit site |
See details for Axos Summit SavingsAxos Summit Savings pays up to 4.01% APY as of November 9, 2026, for new accounts. The qualifying conditions are listed below. Earn 4.01% APY now, dropping to 3.75% APY once the intro period ends.
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For reference Wells Fargo Way2Save Savings Verified by Arca on . Wells Fargo's rate page (opens in a new tab) | 0.01% APY | $1 a year on a $10,000 balance | |
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 Wells Fargo's current savings account APY?
Wells Fargo's standard Way2Save savings pays 0.01% APY as of November 9, 2026; its Platinum Savings reaches 0.05% APY, with a linked Premier Checking account required. On a $10,000 balance the standard rate earns $1 per year, versus $500 at Leader Bank, which pays 5.00% APY, a promotional rate, and requires a linked checking account, direct deposit of $1,000+/mo, a minimum opening deposit, and other conditions. Source: Arca Savings, updated November 9, 2026.
Does Wells Fargo Platinum Savings pay a higher rate at larger balances?
No — Wells Fargo Platinum Savings tops out at 0.05% APY as of November 9, 2026, and only with a linked Premier Checking account; the rate barely moves across balance tiers. At a $10,000 balance it pays 0.05% APY, against 5.00% APY, a promotional rate, at Leader Bank, which requires a linked checking account, direct deposit of $1,000+/mo, a minimum opening deposit, and other conditions. Source: Arca Savings, updated November 9, 2026.
Will switching affect my Wells Fargo checking or mortgage?
No. Moving savings to Axos Bank, SoFi, or Marcus by Goldman Sachs has no impact on your Wells Fargo checking account, mortgage, credit cards, or any other Wells Fargo products. Source: Arca Savings, updated November 9, 2026.
How do I transfer a large balance from Wells Fargo?
Standard ACH transfers from Wells Fargo to Axos Bank, SoFi, or Marcus by Goldman Sachs typically clear in 1–3 business days. For balances above $25,000, check the destination account for per-transaction or rolling 5-day transfer limits before initiating the move. Source: Arca Savings, updated November 9, 2026.
Is it worth switching savings accounts if I have a Wells Fargo mortgage?
Yes — the two are unrelated. Your Wells Fargo mortgage terms stay the same wherever your savings are held. Moving to Leader Bank, which pays 5.00% APY, a promotional rate, and requires a linked checking account, direct deposit of $1,000+/mo, a minimum opening deposit, and other conditions, earns $499 more per year on a $10,000 balance versus Wells Fargo's 0.01% Way2Save rate as of November 9, 2026. Source: Arca Savings, updated November 9, 2026.
How much interest does Wells Fargo pay per month on $10,000?
Wells Fargo pays about $0.08 per month on a $10,000 savings balance — $1 a year at 0.01% APY as of November 9, 2026. EverBank Performance Savings (for new accounts only) pays about $35 a month, or $420 a year, on the same balance. The monthly difference is roughly $34.92. Source: Arca Savings, updated November 9, 2026.
Is Wells Fargo's savings account good for an emergency fund?
No — Wells Fargo Way2Save Savings is safe but costly for an emergency fund. It pays 0.01% APY as of November 9, 2026, so a $10,000 emergency fund earns $1 a year, against $420 at EverBank Performance Savings (for new accounts only). Wells Fargo Way2Save 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 November 9, 2026.
How do I calculate interest on a Wells Fargo savings account?
Multiply your balance by the APY, then divide by 100. Wells Fargo Way2Save Savings pays 0.01% APY as of November 9, 2026, so a $10,000 balance earns $1 a year and a $100,000 balance earns $10. 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 November 9, 2026.