Best Online Savings Account Rates 2026
Compare today's highest online savings account rates. Online banks consistently offer APYs that are 10-20x higher than traditional brick-and-mortar banks.
Last updated: February 24, 2026
Online Banks vs. Traditional Banks
| Online Banks | Traditional Banks | |
|---|---|---|
| Typical APY | 3.87% | 0.01 - 0.10% |
| Monthly Fees | None | $0 - $12/mo |
| FDIC Insured | Yes | Yes |
| Branch Access | No | Yes |
| Mobile App | Yes | Yes |
All Online Savings Rates
| Bank | APY | Min. Deposit | Monthly Fee | Notes | |
|---|---|---|---|---|---|
#1Betterment | 4.40% | $0 | $0 | Visit → | |
Vio Bank | 4.03% | $0 | $0 | Visit → | |
Marcus by Goldman Sachs | 4.00% | $0 | $0 | Visit → | |
American Express | 4.00% | $0 | $0 | Visit → | |
SoFi | 4.00% | $0 | $0 | Visit → | |
LendingClub Bank | 4.00% | $0 | $0 | Visit → | |
Bread Savings | 4.00% | $0 | $0 | Visit → | |
Popular Direct | 4.00% | $0 | $0 | Visit → | |
Bask Bank | 4.00% | $0 | $0 | Visit → | |
Wealthfront | 3.95% | $0 | $0 | Visit → | |
Capital One 360 | 3.85% | $0 | $0 | Visit → | |
Barclays US | 3.85% | $0 | $0 | Visit → | |
CIT Bank | 3.65% | $0 | $0 | Visit → | |
Laurel Road | 3.50% | $0 | $0 | Visit → | |
UFB Direct | 3.46% | $0 | $0 | Visit → | |
BMO Alto | 3.15% | $0 | $0 | Visit → |
Benefits of Online Savings Accounts
Higher Interest Rates
Without the cost of maintaining physical branches, online banks pass savings directly to customers through significantly higher APYs.
No Monthly Fees
Most online savings accounts charge zero monthly maintenance fees, unlike traditional banks that often charge $5-12/month without qualifying activity.
Low or No Minimums
Many online banks require no minimum deposit to open an account and no minimum balance to earn the advertised APY.
FDIC Protection
Online banks carry the same FDIC insurance as traditional banks, protecting your deposits up to $250,000 per depositor, per institution.
Frequently Asked Questions
Why are online savings account rates higher than traditional banks?
Online banks have significantly lower overhead costs — no branch locations, fewer employees, and lower real estate expenses. They pass these savings to customers in the form of higher APY rates, often 10-20x higher than traditional brick-and-mortar banks.
What is a good savings account rate right now?
As of 2026, a good online savings account rate is 3.87% APY or higher. The best online savings accounts currently offer up to 4.40% APY. Traditional banks typically offer 0.01-0.10% APY by comparison.
Are online savings accounts as safe as traditional banks?
Yes. Online savings accounts at FDIC-insured banks are just as safe as traditional bank accounts. Your deposits are insured up to $250,000 per depositor, per bank, regardless of whether the bank has physical branches.
Can I access my money in an online savings account?
Yes. Online savings accounts allow you to transfer money to and from linked external bank accounts, typically within 1-3 business days via ACH transfer. Many online banks also offer instant transfers to their own checking accounts.