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Best High-Yield Savings Accounts of June 2026
Real APYs from verified FDIC-insured banks and credit unions, plus hidden-gem picks like credit-union-only CDs and Treasury Direct. Updated daily. No editorial fluff — just yield, terms, and access.
High-Yield Savings · CDs · Treasury● LIVE FEED
| Institution | APY | Status | ||
|---|---|---|---|---|
My Banking Direct $500 min · FDIC Insured · Lesser-known NY-based bank. | 5.05% APY | Hidden Gem | ||
NASA Federal Credit Union $10k min · 15-mo term · FDIC Insured · 15-month share certificate. | 5.30% APY (CD) | Credit Union Only | ||
BrioDirect $5k min · FDIC Insured · High-yield savings, $5k min. | 5.30% APY | Highest APY | ||
US Treasury Direct - I Bonds $25 min · FDIC Insured · Composite rate, no state tax. | 3.11% Yield | Inflation Hedge | ||
Varo Bank $0 min · FDIC Insured · Up to 5.00% APY with qualifying activity. | 5.00% APY | Top APY | ||
Marcus by Goldman $0 min · FDIC Insured | 3.75% APY | Trusted | ||
Discover Online Savings $0 min · FDIC Insured | 3.60% APY | Fee-free | ||
CIT Platinum Savings $5k min · FDIC Insured · Top tier at $5k+. | 4.35% APY | Tiered | ||
Alliant Credit Union $1k min · 12-mo term · FDIC Insured · 12-month certificate. | 4.50% APY (CD) | Credit Union | ||
US Treasury - 4-Week T-Bill $100 min · 1-mo term · FDIC Insured · Auctioned weekly. | 5.27% Yield | Government Backed | ||
Western Alliance $1 min · FDIC Insured · Via Raisin or direct. | 4.50% APY | Big Bank Yield | ||
Wealthfront Cash $1 min · FDIC Insured · Sweep program for extended FDIC. | 4.00% APY | Up to $8M FDIC | ||
SoFi Checking & Savings $0 min · FDIC Insured · 3.80% APY with direct deposit. | 3.80% APY | Direct Deposit Bonus | ||
Ally Online Savings $0 min · FDIC Insured · Reliable mainstream HYSA. | 3.60% APY | Stable |
How we rank
Methodology · Savings & CDs
Listings on BankCheap are ranked by a transparent formula that weighs current rate, fees, terms, deposit/credit requirements, and institutional safety (FDIC/NCUA insurance, regulator standing). We surface hidden-gem credit unions and Treasury options alongside major banks — not just whoever pays the highest affiliate commission. Read the full methodology or see where the data comes from.
Frequently asked
Common questions
- What is a high-yield savings account?
- A high-yield savings account (HYSA) is an FDIC-insured deposit account that pays significantly more interest than the national average. Top online banks currently pay around 4–5% APY, while the national average is below 0.5%.
- Are online banks safe?
- Online banks are safe when they are FDIC-insured. Federal deposit insurance covers up to $250,000 per depositor, per insured bank, per ownership category — identical coverage to brick-and-mortar banks.
- How often do high-yield savings rates change?
- Variable APYs can change at any time and tend to track the Federal Reserve's federal funds rate. CDs lock in a fixed rate for the term you choose, so they don't change once opened.
- What's the difference between APY and APR?
- APY (annual percentage yield) is what you earn on deposits, including compounding. APR (annual percentage rate) is what you pay on borrowed money, without compounding. Higher APY is better on savings; lower APR is better on debt.
- Should I choose a CD or a high-yield savings account?
- Pick a CD when you don't need the money for a set period and want to lock in today's rate. Pick a high-yield savings account when you want full access to your cash and are willing to accept a variable rate.
- Are CD interest earnings taxable?
- Yes. Interest from CDs and savings accounts is taxed as ordinary income at the federal level, and in most states. Treasury bills and notes are exempt from state and local tax.
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