Best High-Yield Savings Accounts: May 2026
The best high-yield savings accounts in May 2026 pay 4.30% to 4.55% APY. CIT Bank Platinum leads at 4.55% with a $5,000 minimum. Marcus by Goldman Sachs is second at 4.50% with no minimum. All five accounts below are FDIC insured up to $250,000 and charge no monthly fees.
Last updated: May 14, 2026. Rates change frequently. Verify each rate at the bank's rate page (linked below) before opening an account.
| # | Account | APY | Min. Balance | Monthly Fee | ATM | App Rating | FDIC |
|---|---|---|---|---|---|---|---|
| 1 | CIT Bank Platinum Savings | 4.55% | $5,000 for top tier | $0 | No | 4.6 / 5 | Yes |
| 2 | Marcus by Goldman Sachs | 4.50% | $0 | $0 | No | 4.9 / 5 | Yes |
| 3 | American Express HYSA | 4.35% | $0 | $0 | No | 4.7 / 5 | Yes |
| 4 | Discover Online Savings | 4.40% | $0 | $0 | Yes (60K+ ATMs) | 4.8 / 5 | Yes |
| 5 | Capital One 360 Performance Savings | 4.30% | $0 | $0 | Yes (Capital One ATMs) | 4.8 / 5 | Yes |
CIT Bank Platinum Savings
FDIC insured · Min: $5,000 for top tier · Fee: $0
4.55%
APY
Pros
- Top APY in the comparison
- No monthly fee
- FDIC insured up to $250,000
Cons
- Need $5,000 balance for the top APY tier
- Below $5,000 the APY drops to about 0.25%
- No ATM card
Marcus by Goldman Sachs
FDIC insured · Min: $0 · Fee: $0
4.50%
APY
Pros
- No minimum balance
- Trusted Goldman Sachs brand
- No fees, ever
Cons
- No checking pair
- Transfers can take 1 to 3 business days
American Express HYSA
FDIC insured · Min: $0 · Fee: $0
4.35%
APY
Pros
- No minimum balance
- No fees
- Easy link to existing Amex card account
Cons
- No checking account
- No ATM access
Discover Online Savings
FDIC insured · Min: $0 · Fee: $0
4.40%
APY
Pros
- No monthly fee
- Free ATM access at 60,000+ machines
- Strong mobile app
Cons
- Rate not always the top of the market
- No physical branches
Capital One 360 Performance Savings
FDIC insured · Min: $0 · Fee: $0
4.30%
APY
Pros
- No minimum balance
- Physical branches available
- Strong app with sub-account buckets
Cons
- Rate slightly below top picks
- Branch coverage uneven outside major cities
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Open the HYSA CalculatorFrequently asked questions
Which bank has the highest HYSA APY in May 2026?
CIT Bank Platinum Savings is the highest at 4.55% APY, but it requires $5,000 to qualify for that rate. Marcus by Goldman Sachs is second at 4.50% APY with no minimum balance.
What is a good APY for a high-yield savings account?
In May 2026, anything above 4.25% is competitive. The national average for traditional savings is 0.46% APY, so HYSAs at 4.30% or higher pay almost 10 times more (Source: FDIC).
Are these banks safe?
Yes. All five accounts are FDIC insured up to $250,000 per depositor, per bank. FDIC insurance is backed by the U.S. government and has never failed to pay a covered depositor.
How often do these rates change?
Banks can change HYSA rates at any time. Rates usually move within weeks of a Federal Reserve rate decision. Check the bank's rate page before you open the account.
Can I switch HYSAs later if I find a higher rate?
Yes. There are no penalties for closing a HYSA. Many savers move money to whichever bank has the top rate at the moment. The downside is the paperwork of opening and closing accounts.
Do HYSAs charge monthly fees?
None of the five accounts above charge monthly fees. Some traditional banks charge $5 to $15 per month for savings accounts, but online HYSAs almost never do.
What is the catch with HYSAs?
There is no catch on the safety side. The rate is variable, so the APY can drop later. Most HYSAs do not offer checks or debit cards, so they work best as a place to grow savings, not for daily spending.
How we ranked these accounts
We ranked accounts by APY first, then adjusted for monthly fees, minimum balance gates, mobile app ratings, and ATM access. APYs were pulled directly from each bank's official rate page on the date of this update. The methodology page has full math transparency. Primary data sources: FDIC weekly national rates and each bank's published rate page.