Best High-Yield Savings Accounts in 2026 — Compared
If your emergency fund is sitting in a standard bank account earning near-zero interest, you're leaving money on the table. High-yield savings accounts (HYSAs) offer significantly better rates than traditional banks — often 10–20 times higher — with the same FDIC/FSCS protection and the same easy access to your funds.
This guide from PracticalIncome compares the best options available in the US and UK, so you can find the right home for your savings without switching to a complex investment product.
Disclosure
Some links in this article may be affiliate links. Rates shown are indicative and change frequently — always check the provider's website for current rates before opening an account.
Quick comparison — US high-yield savings accounts
| Account | APY (indicative) | Minimum balance | Monthly fees | FDIC insured |
|---|---|---|---|---|
| Marcus by Goldman Sachs | 4.50%+ | $0 | None | ✅ Yes |
| SoFi Savings | 4.60%+ | $0 | None | ✅ Yes |
| Ally Bank Online Savings | 4.25%+ | $0 | None | ✅ Yes |
| American Express HYSA | 4.35%+ | $0 | None | ✅ Yes |
| Discover Online Savings | 4.25%+ | $0 | None | ✅ Yes |
Rates are variable and subject to change. Check each provider's current rate before applying.
Detailed look at the top US options
Marcus is consistently among the top-rated high-yield savings accounts for its combination of competitive rate, no minimum balance and no fees. Backed by Goldman Sachs, it's a trusted name with a clean, no-frills online interface. No physical branches — everything is managed online or via app.
✅ Pros
- No minimum balance
- No monthly fees
- Strong brand trustworthiness
- Easy online transfers
❌ Cons
- No checking account or debit card
- No physical branches
- Transfers can take 1–3 days
SoFi offers one of the highest rates on this list, with the added benefit of a combined checking and savings account. This makes it easier to manage daily spending and savings in one place. The higher FDIC coverage (up to $2M through its network of partner banks) is a standout feature for those with larger balances.
✅ Pros
- High APY rate
- Combined checking + savings
- Higher FDIC coverage
- No fees
❌ Cons
- Rate requires direct deposit setup
- Full features require SoFi membership
Ally is one of the most established online banks in the US, known for its excellent customer service and user-friendly app. The "buckets" feature lets you organise savings by goal within a single account — useful for separating your emergency fund from savings for specific purchases.
✅ Pros
- Excellent customer service reputation
- Savings "buckets" feature
- Full banking suite available
- No fees or minimums
❌ Cons
- Rate slightly below top competitors
- No physical branches
Best options for UK savers
| Account | AER (indicative) | Minimum balance | FSCS protected |
|---|---|---|---|
| Chase UK Saver | Up to 5%+ | £0 | ✅ Yes (£85,000) |
| Chip Easy Access | 4.84%+ | £0 | ✅ Yes |
| Marcus (UK) | 4.75%+ | £0 | ✅ Yes |
| Monzo Savings Pots | Variable | £0 | ✅ Yes |
Chase UK's saver account has consistently offered one of the highest easy-access rates in the UK market, making it a strong option for emergency funds. Access is through the Chase app, which is well-rated for usability. Requires a Chase current account to open.
✅ Pros
- Consistently competitive rate
- Easy access — no lock-in
- Excellent app
- Backed by JP Morgan Chase
❌ Cons
- Requires Chase current account
- Rate can change without notice
How to choose the right account for you
- Emergency fund? → Prioritise easy access with no withdrawal penalties over slightly higher rates
- Short-term savings goal (1–2 years)? → Easy access HYSA or a fixed-term notice account
- UK saver wanting tax-free growth? → Cash ISA (up to £20,000/year, all interest tax-free)
- US saver in a high tax bracket? → Consider a high-yield savings account alongside a money market fund in a taxable brokerage
Important: rates change frequently
High-yield savings rates move with central bank interest rates and can change with little notice. The accounts listed here have strong track records of competitive rates, but always verify the current rate directly on the provider's website before opening an account or moving money.
Bottom line
Any of the accounts on this list is significantly better than leaving money in a standard bank account earning near-zero interest. The difference between 0.1% and 4.5% on a £10,000 emergency fund is £440 per year in extra interest — real money for doing nothing more than moving your savings to the right place.