A regular savings account in the USA pays almost nothing — the national average is only 0.38% APY. A high-yield savings account (HYSA) from an online bank can pay 4% or more, roughly ten times the average. This is a general-education guide, not financial advice. Rates below are as of 5 November 2026 and change often — check the bank’s own page before opening an account.
What the best rates look like right now
- Axos ONE: up to 5.00% APY for six months, with strict qualifying criteria, then 4.21% on balances under $250,000
- Go2bank: up to 4.50% APY on balances up to $5,000
- Pibank: 4.40% APY with no minimum balance
- CIT Bank Platinum Savings: up to 4.35% APY for six months on $5,000 or more
Most top rates are variable and often promotional. Some require direct deposit or a minimum deposit.
What to check before you open one
- Is the rate promotional? A 5% headline rate may drop after six months.
- Is there a minimum or a direct-deposit rule? Some accounts only pay the top rate if you meet it.
- Is the bank FDIC-insured? Accounts at FDIC-member banks are insured, and interest earned is taxable as ordinary income in the USA.
- Can you get your money out easily? Check transfer times and any withdrawal limits.
The simple rule
If your money sits in an account paying 0.38%, moving it to a 4%+ high-yield account earns roughly ten times more interest on the same cash — with the same FDIC protection, as long as you check the rate terms first.
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