Best Online Savings Accounts
Selected from 350+ savings accounts for July 2026
Best High Yield Online Savings
Best High Yield Online Savings
| APY | Monthly Fee | Signup Bonus |
|---|---|---|
| 4.10% | None | None |
Why we like it: The Pibank Savings account has one of the highest rates around, at 4.10% for any balance. Couple that with no monthly fees and no minimum deposit requirement and you’ve got one of the best savings accounts out there, online or otherwise.
What we don’t like: With no Bill Pay or Zelle support, Pibank’s offer is more limited in functionality than other accounts.
Who should get it: If you’re looking to get the most bang for your buck, you can’t go wrong with the Pibank Savings.
Best High Yield Online Savings
| APY | Monthly Fee | Signup Bonus |
|---|---|---|
| 1.00% - 3.75% | None | None |
Why we like it: The Varo High-Yield Savings Account account has one of the highest rates around, at 3.75%. Couple that with no monthly fees and no minimum deposit requirement and you’ve got one of the best savings accounts out there, online or otherwise.
What we don’t like: The 3.75% APY is only for balances up to $5,000. After that, the interest will drop to 1.00%.
Who should get it: If you’re looking to get the most bang for your buck, you can’t go wrong with the Varo High-Yield Savings Account.
Checking/Savings Combo
Checking/Savings Combo
| APY | Monthly Fee | Signup Bonus |
|---|---|---|
| 3.50% - 4.21% | None | None |
Why we like it: The Axos ONE® Savings account has one of the highest rates around, at 4.21%. Couple that with no monthly fees and no minimum deposit requirement and you’ve got one of the best savings accounts out there, online or otherwise.
What we don’t like: To earn the highest APY, customers must receive monthly direct deposits totaling at least $1,500 and maintain an average daily balance of $1,500 in their Axos ONE Checking account.
Who should get it: If you’re looking to get a checking account alongside your new savings account, and you plan on using both oftenm the Axos ONE® Savings is the best for you.
Best for Students
Best for Students
| APY | Monthly Fee | Signup Bonus |
|---|---|---|
| 0.05% - 10.38% | None | None |
Why we like it: The Student Savings Account offered by Spectra Credit Union has a great APY of 10.38%, no monthly fees and only $5 minimum deposit requirement.
What we don’t like: While it’s easy to join the Spectra Credit Union to open this savings account, ultimately it is a step that must be considered. Also, the great APY is only for the first $1,000 of your balance.
Who should get it: Students looking to start saving early and get a great APY along with it should give the Spectra CU Brilliant Kids Savings a try.
| APY | Monthly Fee | Signup Bonus |
|---|---|---|
| 3.10% | None | Up to $30 |
Why we like it: SoFi’s Student Checking and Savings account comes with an APY of up to 3.10%. That, plus the lack of monthly fees or minimum deposit requirements make it a great choice for any student. Plus, you get a free checking account.
What we don’t like: While a great offer for students, the APY is not the best you could have with a regular savings account.
Who should get it: Students looking for an online bank with a competitive savings account APY, no minimum balance requirements and no monthly fees and a free checking account alongside it should consider SoFi’s offer.
Best for Businesses
Best for Businesses
| APY | Monthly Fee | Signup Bonus |
|---|---|---|
| 4.00% | None | None |
Why we like it: The Primis Business Savings account offers 4.00% with no monthly fees and just $1 as minimum deposit.
What we don’t like: Since Primis mainly has physical branches in Virginia and Maryland, most businesses will have to contend with operating online only.
Who should get it: If your business only handles digital funds, the great APY that Primis Business Savings offers is a good enough reason to give them a chance.
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2026’s Best Credit Union Online Savings Accounts
| Best | Online Savings Account | APY | Minimum Deposit Required |
| High-Yield (up to $1k balance) | Orsa Credit Union High Yield Savings | 10.00% on balances up to $1,000 | $5 |
| High-Yield ($1k to $5k balance) | AdelFi Harvest High-Yield Savings | 5.00% on balances up to $1,000 | $100 |
| High-Yield ($5k to $15k balance) | Vibrant Credit Union Preferred Savings | 4.00% on balances up to $5,000 | $5 |
| High-Yield ($15k to 25k balance) | Leaders Credit Union Forward Plus High Yield Savings | 3.50% on any balance | $0 |
| High-Yield ($25k to $100k balance) | AlumniFi Savings Account | 4.00% on on balances between $25,000 and $100,000 | $0 |
| High Net Worth (above $100k balance) | AlumniFi Savings Account | 4.00% on balances above $100,000 | $0 |
| Checking/Savings Combo | Boeing Employees Credit Union Member Advantage Savings | 5.12% on balances up to $500 | $5 |
| Students | Spectra CU Brilliant Kids Savings | 10.38% on balances up to $1,000 | $5 |
| Business | Amplify Credit Union Business High-Yield Savings | 4.00% on any balance | $0 |
How to Find the Best Online Savings Account – 7 Tips
Unlike choosing a mortgage or even applying for a credit card, finding the best online savings account or money market account (basically the same thing) is relatively easy. There aren’t many differences between offers. And you pretty much need to focus solely on finding an account with a high APY and low fees. Besides, we’ve already done the leg work for you, sifting through hundreds of offers to find the cream of the market’s crop.
But you still need a way to choose between 2026’s Best Online Savings Accounts and compare accounts in the future. So WalletHub’s editors put together the following tips to help you.
1. Prioritize a High APY: Aside from the security of deposit insurance, seeing your money grow over time is the biggest benefit of using a savings account. So focus your comparison efforts on finding the highest possible yield. In doing so, make sure to consider how much money you expect to keep in your account moving forward. Many accounts offer different interest rates based on your balance.
2. Consider Monthly Fees & Accessibility: If two accounts have the same APY, use the fees they charge as the tie-breaker. Just make sure you aren’t sacrificing access to your funds for a lower cost.
3. Don’t Overlook Credit Unions: Credit unions can afford to offer better terms than banks because they have less overhead and are owned by their customers. You can use WalletHub’s Credit Union Savings Tool to review offers from the credit unions you’re eligible to join.
4. Embrace Online-Only Options: These days, most people have little need for a physical checkbook or a brick-and-mortar branch location. In fact, you may be exposing yourself to a lot of liability by continuing to write checks. And since online-only bank accounts offer the best terms on the market, giving one a try could prove quite rewarding.
5. Take Advantage of Benchmark Bonuses: Many savings accounts offer higher interest rates when your account balance is above or below a certain amount. Others waive fees. Keep an eye out for these account features and factor them into your decision-making.
6. Stick to the Plan: Navy SEALs tailor the ammunition they bring to the type of mission, terrain and enemy they’re dealing with. You can think of your savings account the same way. Your tools will be selected with your particular trade in mind, and if you use these tools for other purposes, the results will not be as intended. In other words, use your saving account for saving and not for spending.
7. Ignore Labels: With your mission to find high rates and low fees in mind, remember that you don’t need to limit yourself to savings accounts. Checking accounts, prepaid cards and brokerage accounts are all worthy substitutes in the right situation.
Questions & Answers
Finding the best savings account can be tough. But you’ve got the knowledgeable WalletHub community on your side. We encourage everyone to share their knowledge while respecting our content guidelines. Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. In addition, it is not the financial institution’s responsibility to ensure all posts and questions are answered.
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Expert Opinions
To help you learn more about online savings accounts and find the best one for your situation, we posed the following questions to a panel of experts. You can check out their responses by clicking "Read More" below.
- What advice do you have for people who are looking for an online savings account?
- What would you say is the biggest mistake that people tend to make when it comes to online savings accounts?
- When do you recommend getting an online savings account instead of another type of bank account?
- What are the most important things to look for when comparing online savings accounts?
- What features do the best online savings accounts have in common?
Ph.D. Student and Graduate Research Assistant in Finance at Mike Ilitch School of Business, Wayne State University
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University Distinguished Senior Lecturer, Entsminger Entrepreneur Fellow, Manager Gregory Lumsden Bloomberg Trading Room & Research Lab – Old Dominion University, Strome College of Business
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CFP® -Founder and Principal of Asti Financial Management, LLC
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Associate Professor, Duke University
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CPA, MBA - Adjunct Professor, Montclair State University
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MBA, CFP®, FBS®, CEBS -Ph.D. Student, Researcher, financial planner, College of Human Sciences School of Financial Planning, Texas Tech University
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