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- High-yield savings accounts in U.S. News & World Report’s October 2026 rankings offer advertised APYs ranging from 2.00% to 4.20%.
- SoFi leads with a promotional APY of 4.20% for eligible new account holders, followed by Western Alliance Bank at 4.10% and E*TRADE at 4.00% for six months.
- Minimum deposits, account fees, ATM access, and eligibility requirements vary, making it important to compare account terms and promotional rates before opening an account.
NEW YORK, Oct. 22, 2026 — High-yield savings accounts pay interest on deposits while allowing customers to withdraw funds in accordance with account terms. The annual percentage yield (APY) measures annual interest earnings, including compound interest. Rates vary by bank, and promotional rates may expire after a specified period.
U.S. News & World Report’s October 2026 rankings list 12 savings accounts with advertised APYs ranging from 2.00% to 4.20%. SoFi Checking and Savings offers up to 4.20% APY to eligible new account holders as part of a promotional offer. Western Alliance Bank’s High Yield Savings Account pays 4.10% APY, while E*TRADE’s Premium Savings Account advertises 4.00% APY for six months. Synchrony Bank's High Yield Savings Account pays 3.55% APY.
Savings Account Rankings
SoFi Checking and Savings receives a U.S. News rating of 5.0 out of 5. Eligible new account holders can receive an additional 0.90 percentage point in APY, bringing the rate to 4.20% for up to six months under the promotional terms. The account has no minimum balance requirement to earn the advertised APY and charges no account fees. Customers can access more than 55,000 fee-free ATMs through the Allpoint network. SoFi does not offer standalone checking or savings accounts.
Western Alliance Bank’s High Yield Savings Account pays 4.10% APY and requires a $1 minimum balance. Customers can open the account through Raisin. The account charges no fees and permits individual or joint ownership. E*TRADE’s Premium Savings Account advertises 4.00% APY for six months and has no minimum balance requirement. Synchrony Bank’s High Yield Savings Account pays 3.55% APY, has no minimum balance requirement, and compounds interest daily.
Online Banking Options
Discover Online Savings Account pays 3.40% APY and receives a U.S. News rating of 4.9 out of 5. Discover Bank operates one physical location in Delaware and provides access to more than 60,000 ATMs. Customer service is available 24 hours a day, seven days a week. The bank offers checking, savings, and money market accounts without account fees.
Ally Bank’s Savings Account pays 3.60% APY, with no minimum balance requirement or monthly maintenance fees. Customers can receive up to $10 per month in reimbursement for fees charged by non-Allpoint ATMs. Telephone customer service is available 24 hours a day. Ally has no physical branches, and customers can deposit cash at Walmart MoneyCenters.
Capital One 360 Performance Savings pays 3.20% APY, with no minimum balance requirement or monthly maintenance fees. Customers can access 70,000 fee-free ATMs through Capital One, MoneyPass and Allpoint networks. Capital One operates a limited branch network, and interest compounds monthly.
Fees and ATM Access
Barclays Tiered Savings pays 3.50% APY and charges no monthly maintenance or annual fees. The account has no limits on withdrawals or transfers but does not permit direct ATM withdrawals. Customers must transfer funds to an external bank account before withdrawing cash through that bank. Barclays does not offer checking accounts.
Quontic High-Yield Savings pays 3.20% APY and requires a $100 opening deposit. Customers can manage the account through online and mobile banking. Quontic has no physical branches.
American Express High Yield Savings pays 3.00% APY, with no minimum balance requirement or account fees. American Express National Bank has no physical branches. Customers who hold certificates of deposit with the bank can withdraw earned interest before maturity, subject to the account terms.
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PNC and HSBC Savings Accounts
PNC Bank High Yield Savings pays 2.00% APY and requires a $1 minimum balance. PNC operates branches across 28 states and the District of Columbia. Savings rates vary by location, so customers may receive different rates depending on where they open their accounts. PNC also offers budgeting tools through Virtual Wallet.
HSBC Bank Premier Relationship Savings pays 3.60% APY and receives a U.S. News rating of 3.1 out of 5. The advertised rate requires an eligible HSBC banking relationship, including a qualifying checking account. HSBC also reimburses fees for ATM use outside its network, although its branch network is limited.
The 12 accounts have advertised APYs ranging from 2.00% at PNC Bank to 4.20% under SoFi’s promotional offer. Western Alliance Bank pays 4.10% APY, while E*TRADE’s 4.00% rate applies for six months. Minimum deposits, fees, ATM access, and eligibility requirements differ by account. Customers should verify current rates and promotional terms before opening an account.
SoFi, Western Alliance Bank, and E*TRADE lead a ranking of 12 high-yield savings accounts, with advertised APYs reaching 4.20%.
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