Your emergency fund should be earning more than 0.01%. These accounts pay 4.00% APY or better.
The average savings account at a traditional bank pays just 0.01% APY. The accounts below pay 40 to 50 times that. We track rates weekly and update this page so you're always seeing what's current.
Last updated: April 2, 2026 | National average APY: 0.01% (FDIC) | Federal funds rate: 4.25%–4.50%
| Bank / Account | APY | Min. Deposit | Min. Balance | Monthly Fee | FDIC Insured | |
|---|---|---|---|---|---|---|
| Wealthfront Cash Account Top APY | 5.00% | $0 | $0 | $0 | Yes (up to $8M via partners) | Open Account |
| UFB Direct High Yield | 5.01% | $0 | $0 | $0 | Yes ($250K) | Open Account |
| Betterment Cash Reserve | 4.75% | $0 | $0 | $0 | Yes (up to $2M via partners) | Open Account |
| Marcus by Goldman Sachs | 4.40% | $0 | $0 | $0 | Yes ($250K) | Open Account |
| Ally Bank Online Savings | 4.20% | $0 | $0 | $0 | Yes ($250K) | Open Account |
| Capital One 360 Performance | 4.25% | $0 | $0 | $0 | Yes ($250K) | Open Account |
| Discover Online Savings | 4.25% | $0 | $0 | $0 | Yes ($250K) | Open Account |
| SoFi Checking & Savings | 4.00% | $0 | $0 (with direct deposit) | $0 | Yes (up to $2M via partners) | Open Account |
Wealthfront consistently offers one of the highest APYs available, and the extended FDIC coverage (up to $8 million through partner banks) makes it an excellent choice for larger balances. Transfers to external banks are fast (typically one business day), and the interface is clean and modern.
There's no checking account attached, so you'll need a separate account for everyday spending. But as a place to park your emergency fund or short-term savings, it's hard to find a better combination of rate and safety.
Marcus has been a reliable name in online savings since 2016. The rate stays competitive without promotional gimmicks, and the Goldman Sachs name carries weight. No-penalty CDs are also available if you want to lock in a rate.
The mobile app is well designed and account setup takes under 10 minutes. The one limitation: you can't receive incoming wire transfers, which matters for some users moving large sums.
Ally is the most complete online bank on this list. Beyond the savings account, you get a solid checking account, CDs, IRA savings, and an investment platform all under one roof. The "buckets" feature lets you organize savings goals within a single account without opening multiple accounts.
The rate isn't always the absolute highest, but Ally's consistency, customer service reputation, and full-service banking experience earn it a spot in our top three.
Here's what $10,000 earns in one year at different APYs:
| APY | Interest Earned (1 Year) | Year-End Balance | vs. National Avg (0.01%) |
|---|---|---|---|
| 5.00% | $500 | $10,500 | +$499 more |
| 4.50% | $450 | $10,450 | +$449 more |
| 4.25% | $425 | $10,425 | +$424 more |
| 4.00% | $400 | $10,400 | +$399 more |
| 0.01% (national avg) | $1 | $10,001 | — |