Best High-Yield Savings Accounts — February 2026
High-yield savings options offer rates up to 4.20%, helping you stay ahead of inflation and grow savings faster.
High-yield savings accounts let you reach your savings goal more quickly. How? By offering you rates that outpace inflation with no account fees or minimums.
However, you want to act fast to maximize gains. The Federal Reserve cut interest rates three times last year, and there's talk of at least one rate cut in 2026.
While rate cuts can lower your earnings, rates are still high enough to help you outpace inflation. Here's a look at the top high-yield savings accounts to consider, how much you can earn and the pros and cons of using one.
From just $107.88 $24.99 for Kiplinger Personal Finance
Become a smarter, better informed investor. Subscribe from just $107.88 $24.99, plus get up to 4 Special Issues
Sign up for Kiplinger’s Free Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
The best high-yield savings accounts for February 2026
Here are some of the best options I found:
Account | APY | Min. opening deposit |
|---|---|---|
4.20% | $0 | |
4.09% | $500 | |
4.02% | $500 | |
4.00% | $100 | |
3.85% | $2,500 | |
3.75% | $1,000 |
How much can high-yield savings accounts earn you?
Unlike traditional savings accounts, which offer, on average, lower returns, high-yield options allow you to grow your money fast.
If you select my top choice, Newtek Bank, here's how much you can earn in one year with varying deposits:
- $10,000: $428.92 in earned interest
- $25,000: $1,072.30 in earned interest
- $50,000: $2,144.60 in earned interest
- $100,000: $4,289.20 in earned interest
Rates on high-yield savings accounts are always changing, so a good way to check for some of the most up-to-date rates is by using the savings tool, below, powered by Bankrate:
Pros and cons of high-yield savings accounts
As with all savings products, there are pros and cons associated with high-yield savings accounts. It's important to compare all aspects of an account to make sure it meets your needs before opening it.
Pros:
- Higher APYs: Since high-yield savings accounts have higher APYs than traditional savings accounts, you'll accrue more interest over time. Plus, interest in these accounts is compounded daily.
- Safety: Many high-yield accounts are FDIC or NCUA insured, meaning that if something were to happen to the bank (or credit union) your account is with, your money will still be safe.
- Accessibility: While there are limitations on the number of free withdrawals you can make from a savings account, your money is still readily accessible whenever needed.
Cons:
- Harder to access than traditional savings accounts: If you have a savings account with a different bank than your checking account, you may have to wait a few days for funds to transfer from one to the other. Plus, you won't be able to easily view account details for both accounts in one place unless you have the right budgeting app.
- Not suited for long-term goals: If you're looking to save for long-term goals, like retirement, other investments, like stocks, are usually a better choice for your money. The rate of inflation can be higher than what you earn in interest.
- Variable interest rates: Since interest rates are variable, the APY on the account can decrease from the rate it was when you opened the account if the Fed decides to cut rates again in the future.
- Minimum deposit requirements and fees: Many high-yield savings accounts charge a monthly fee and/or require a minimum deposit to earn the advertised APY.
- Online banks: Since most high-yield accounts are offered by online banks, you likely won't have branch access. Therefore, contacting customer service or accessing a fee-free ATM might be more challenging.
Bottom line on high-yield savings accounts
High-yield savings accounts offer higher rates than traditional savings accounts, meaning your cash will accrue more interest by simply sitting in a high-yield account than in a standard one. And there's no risk, either.
The downside? Since rates on high-yield savings accounts fluctuate with the market, take advantage of the best rates while they're available.
Related Content
-
3 Smart Ways to Spend Your Retirement Tax RefundRetirement Taxes With the new "senior bonus" hitting bank accounts this tax season, your retirement refund may be higher than usual. Here's how to reinvest those funds for a financially efficient 2026.
-
5 Retirement Tax Traps to Watch in 2026Retirement Even in retirement, some income sources can unexpectedly raise your federal and state tax bills. Here's how to avoid costly surprises.
-
Trump's New Retirement Plan: What You Need to KnowPresident Trump's State of the Union address touched upon several topics, including a new retirement plan for Americans. Here's how it might work.
-
The Best Short-Term CD for Your Cash in 2026This strategy can help you earn thousands in months.
-
Thinking of Switching Phone Carriers? Do These 8 Things FirstSwitching carriers is easier than ever, but overlooking the fine print could cost you. Here’s what to check before you make the move.
-
Samsung Galaxy S26 Ultra: What to Know Before You UpgradeThe Galaxy S26 Ultra brings new features and strong launch deals, but whether it’s worth upgrading depends on what you already own.
-
What Is an Assumable Mortgage and Could It Save You Thousands?With mortgage rates still elevated, taking over a seller’s existing home loan could lower monthly payments — if the numbers work.
-
Have You Fallen Into the High-Earning Trap? This Is How to EscapeHigh income is a gift, but it can pull you into higher spending, undisciplined investing and overreliance on future earnings. These actionable steps will help you escape the trap.
-
I'm a Financial Adviser: These 3 Questions Can Help You Navigate a Noisy Year With Financial ClarityThe key is to resist focusing only on the markets. Instead, when making financial decisions, think about your values and what matters the most to you.
-
Where Olympians Store Their Medals is a Great Lesson For Your Valuables and CashWhat you can learn about protecting your cash and values from where Olympians store their medals.
-
An Executive's 'Idiotic' Idea: Skip Safety Class and Commit a Federal CrimeSeveral medical professionals reached out to say that one of their bosses suggested committing a crime to fulfill OSHA requirements. What's an employee to do?
