Best Online Options For a High-yield Savings Account
Online banks skip the overhead of branches and can pass value along through a higher interest rate, low fees, and strong apps. A high-yield savings account is a savings deposit account that typically pays a higher variable rate than many traditional savings accounts, often because it’s offered online. These accounts are generally considered safe when held at an FDIC-insured bank (or NCUA-insured credit union), with coverage up to applicable limits. Rates can change at any time, and they often move based on broader interest-rate conditions and competition between banks. But the right high yield savings account depends on your habits and goals. Our analysts compared leading providers to highlight standouts so you can pick a secure, insured deposit account that fits.
| Main Advantages | Main Trade-Offs |
|---|---|
| Higher earning potential than many traditional savings accounts. | APYs are variable and may rise or fall over time. |
| Low or no monthly maintenance fees are common. | Some accounts have limited ATM options or reimbursements. |
| Convenient digital access and tools for transfers and tracking goals. | Many options are online-only with no in-person branch service. |
| FDIC/NCUA coverage can apply when you stay within insurance limits. | Interest earned is typically taxable and may need to be reported on your tax return. |
To see what that can look like in dollars, a $10,000 balance earning a representative 3.30% APY would generate about $330 over one year if you make no additional deposits or withdrawals. At 5% APY, $1,000 would earn $50 in one year (ending around $1,050). And at a typical 3.50% APY, $100,000 would earn about $3,500 over a year, though your total can change if the bank adjusts the rate during that time.
How We Chose the Best Online Savings Accounts
Our finance editors reviewed a broad lineup of savings accounts from online banks. We evaluated each option using the criteria below, which also double as practical checkpoints when you’re choosing an account for yourself.
| Bank | APY | Minimum Balance to Earn Stated APY | Monthly Maintenance Fee | ATM Access Notes | Branch Access | Best For |
|---|---|---|---|---|---|---|
| Synchrony | 3.50% | No minimum | None | No ATM withdrawal fee; up to $5/month domestic reimbursements | None | Fee-light savings with optional ATM reimbursements |
| PNC Bank | 3.25% | $1 daily balance to earn APY | None | No reimbursements for non-PNC ATM surcharges | Availability may vary by location | Simple setup for eligible customers |
| American Express® | 3.30% (as of Dec. 30, 2026) | No minimum | None | Not specified | None | Savers who want a straightforward, savings-first experience |
| Affirm | 3.20% | No minimum | None | Not specified | None | Mobile-first saving and day-to-day tracking |
| TAB Bank | 3.61% | $0.01 daily balance | None | Lacks a fee-free ATM network | None | Rate-focused online saving |
| Barclays | 3.50% (when balance generates at least $1 in interest) | Balance must generate at least $1 in interest | None | No U.S. ATM network | No U.S. branches | Digital savings with built-in goal tools |
| Ally Bank | 3.20% | No minimum | None | ATM details primarily tied to its companion checking account | None | Digital banking with strong support and a broad product lineup |
| Discover® | 3.30% | No minimum | None | Not specified | None | Simplified online saving with a polished app experience |
| Capital One | 3.30% (as of 1/8/26) | No minimum | None | Not specified | Limited (eight states and D.C.) | Occasional branch access alongside digital convenience |
| Marcus | 3.65% | No minimum | None | Not specified | Not specified | High-rate saving with fast transfer capabilities |
Based on the APYs listed above, Marcus currently posts the highest rate in this lineup at 3.65% APY.
Synchrony High-Yield Savings
Pros:
- Strong APY across all balances.
- No minimum deposit and no monthly maintenance fee.
- Simple online access and support.
Cons:
- No branch network for in-person service.
Best For:
- Savers comfortable with a digital-only bank.
Synchrony’s savings account pays 3.50% APY on every dollar, with no minimum balance and no monthly fee. While some rivals post slightly higher account rates, this offer is still well above a traditional savings account average.
You can open with any amount. Synchrony does not charge ATM withdrawal fees, though third-party machines may. To offset that, you receive up to $5 in domestic ATM fee reimbursements each month.
This account is fully online. There are no physical branches, but you can reach customer service by web or phone for account questions.
PNC Bank High-Yield Savings
Pros:
- Competitive interest rate.
- No minimum balance required to open.
Cons:
- Availability may be limited by location.
- No reimbursement for other banks’ ATM fees.
Best For:
- Eligible customers who want a simple setup.
PNC’s account earns 3.25% APY, with just a $1 daily balance needed to capture the rate. There is no opening minimum and no monthly service fee.
PNC does not refund surcharges from non-PNC ATMs, so you may incur a fee when using machines outside the network.
American Express® High-Yield Savings Account
Pros:
- High APY for a savings product.
- $0 to open, $0 to earn the APY, and $0 monthly fee.
- Link up to three external bank accounts for transfers.
Cons:
- Limited product lineup beyond savings and CDs.
Best For:
- People who only need a savings vehicle.
American Express National Bank (Member FDIC) offers a 3.30% APY as of December 30, 2026, with no minimum to open and no balance requirement to earn the rate. There is no monthly maintenance fee, so your deposit account balance grows uninterrupted.
You manage everything via secure web and mobile banking, including checking balances, viewing transaction history, and moving money to linked outside accounts.
Amex focuses on savings accounts and certificates of deposit. If you want a checking account in the same place, another provider may suit you better.
Affirm Savings Account
Pros:
- Great APY for an online savings product.
- No monthly fees and no minimums.
Cons:
- No branch access.
Best For:
- Earning a competitive rate from a mobile-first app.
Affirm pays 3.20% APY without a required starting deposit, so every contribution can begin earning interest immediately. There are no monthly charges to reduce your returns.
The experience is entirely digital through Affirm’s app and website. If you are comfortable managing money on your phone or computer, it’s a convenient way to track a savings goal and handle everyday banking tasks, including integrated shopping with participating retailers.
TAB Bank High-Yield Savings Account
Pros:
- One of the highest APYs available.
- No monthly service fees.
Cons:
- Lacks a fee-free ATM network.
Best For:
- Rate-focused savers who bank online.
TAB Bank’s account delivers 3.61% APY, and you only need a $0.01 daily balance to qualify. There are no monthly maintenance fees, and the bank avoids restrictive tiers or balance caps that can limit interest earnings.
Though there are no branches, TAB’s online banking and mobile apps are well rated. You can deposit checks, pay bills, transfer funds, and more from your devices.
You can start with any amount. If you prefer to keep more cash under one roof, TAB also offers a money market account, CDs, and checking.
Barclays Online Savings Account
Pros:
- No minimum balance to open.
- No monthly maintenance fees.
Cons:
- $5 charge for insufficient-funds transactions.
- No U.S. branches or ATM network.
Best For:
- Customers who prefer app and online banking.
Barclays provides anytime access via web and mobile and pays 3.50% APY when your balance is sufficient to generate at least $1 in interest. There is no opening minimum and no monthly fee.
Keep in mind the $5 insufficient-funds fee per transaction and the absence of ATMs or branches for U.S. customers.
Alongside direct and electronic check deposits and transfers, Barclays includes savings tools to set and track goals. Customer support is available 12 hours daily.
Ally Bank Savings Account
Pros:
- Solid APY with no monthly fees or minimums.
- Strong customer service and user-friendly app.
Cons:
- No physical branches.
Best For:
- People who like digital banking and phone support.
Ally’s savings account earns 3.20% APY and does not require a minimum deposit. The account pairs well with Ally’s Spending Account, making instant internal transfers and easier withdrawals than waiting on external transfers.
Ally’s checking account also pays interest and refunds up to $10 per month in out-of-network ATM fees, plus access to thousands of in-network machines.
Discover® Online Savings Account
Pros:
- Strong rate with daily compounding.
- No minimum deposit and no monthly fees.
- Excellent mobile and web experience.
Cons:
- Fully online; no in-person service.
Best For:
- Newcomers to digital banking who want simplicity.
Discover pays 3.30% APY without an opening minimum and does not assess monthly charges or minimums. Interest compounds daily to help accelerate savings growth versus a traditional savings setup.
As an online bank, Discover’s app and website are intuitive. You can transfer funds, deposit checks, review account history, and even monitor your credit score. Additional products are available if you want more than a single savings account.
Capital One 360 Performance Savings
Pros:
- Competitive rate with a full suite of banking products.
Cons:
- Full-service branches operate in only eight states and D.C.
Best For:
- Savers who value occasional in-person support.
Capital One blends digital convenience with limited branch access across the Northeast, Texas, and Louisiana. The bank also offers CDs, kids and teen accounts, credit cards, IRAs, auto loans, and more.
The 360 Performance Savings account posts a 3.30% APY (as of 1/8/26) with no monthly fee and no minimum balance requirements.
Customer service is available seven days a week. The Capital One mobile app is highly rated on both major app stores.
Marcus Online Savings Account
Pros:
- Good APY with no monthly fee and no opening minimum.
- Generous, fast transfers to and from other banks.
Cons:
- Some competitors may offer a slightly higher rate.
Best For:
- A high-interest, standalone savings solution.
Backed by Goldman Sachs, Marcus pays 3.65% APY with $0 to open and no monthly maintenance fee, helping more of your money stay in your account.
Move up to $100,000 per day to or from external banks with same-day transfers in many cases, making it easier to manage cash flow alongside a checking account elsewhere. Support is available 24/7.