Online banks are competing fiercely for deposits, pushing high-yield savings account rates above 5% APY for the first time since 2007. Here are the best offers available right now.
Banks Offering 5%+ APY
- UFB Direct: 5.15% APY, no minimum
- Bread Savings: 5.10% APY, $100 minimum
- BrioDirect: 5.05% APY, $5,000 minimum
- CIT Bank: 5.00% APY, $5,000 minimum
- Bask Bank: 5.00% APY, no minimum
Will These Rates Last?
HYSA rates are tied to the federal funds rate (currently 5.25-5.50%). If the Fed cuts rates later in 2026 as expected, savings rates will fall. Locking in a CD might preserve todays rates for longer.
How Much You Could Earn
At 5% APY, $50,000 in savings generates $2,500 in annual interest — $208/month of passive income. That is compared to just $25/year at a traditional bank paying 0.05%.
