Best HYSA rates — June 2026
Top national APY this month: 5.50% at Pibank Savings. Average across the 12 major online banks tracked here: 4.55%. All accounts are FDIC-insured. No affiliate sponsored ranking.
- Highest unrestricted APY: Pibank Savings — 5.50%
- Best for $5K-$25K with direct deposit: Varo Bank — 5.00% on first $5K
- Best brand+UX combo: Marcus by Goldman Sachs — 4.40%
- Best brokerage-housed: Wealthfront Cash — 4.50% (FDIC up to $8M via partners)
All 12 HYSA rates (June 2026)
| Bank | APY | Min | Fee | Notes |
|---|---|---|---|---|
| Pibank Savings | 5.50% | $0 | $0 | Highest unrestricted national APY; FDIC via Intercredit Bank FL |
| BrioDirect High-Yield | 5.30% | $5,000 | $0 | FDIC via Webster Bank; rate locked through review period |
| Varo Bank | 5.00% | $0 | $0 | 5.00% on first $5K with $1K direct deposit; 3.00% above |
| EverBank Performance Savings | 5.00% | $0 | $0 | Formerly TIAA Bank; rate stable since rebrand |
| Wealthfront Cash Account | 4.50% | $1 | $0 | Brokerage-housed; FDIC via partner banks ($8M coverage) |
| Marcus by Goldman Sachs | 4.40% | $0 | $0 | Established name; rate competitive but not top-tier |
| Discover Online Savings | 4.25% | $0 | $0 | Pairs well with Discover credit cards |
| Ally Online Savings | 4.20% | $0 | $0 | Strong UX, robust app; rate slightly below top-tier |
| SoFi Checking + Savings | 4.20% | $0 | $0 | Requires direct deposit for top APY; 1.20% without |
| American Express HYSA | 4.15% | $0 | $0 | AMEX brand; rate competitive but not top-tier |
| Synchrony Bank HYSA | 4.10% | $0 | $0 | Pairs well with Synchrony retail credit cards |
| Capital One 360 Performance | 4.00% | $0 | $0 | Convenient if you bank with Capital One |
Methodology: Rates cross-referenced weekly against Bankrate, NerdWallet, and DepositAccounts.com. Excludes single-month promos, qualifying-deposit-only rates above stated APY, and balances above stated tier. Last verified 2026-06-15. Snowballr does not accept affiliate revenue from any bank in this table.
How to pick the right HYSA for you
The highest APY is not always the right answer. A 0.10 percentage point difference on a $10,000 balance is only $10 per year — much less than the time cost of switching banks or fighting a poor mobile app. Three factors matter more than the headline rate.
- Rate stability. Some banks lead promotional rate tables but cut rates within months. Banks with stable mid-pack rates (Marcus, Ally, Discover) often deliver more total interest over a year than rate-chasing banks with frequent cuts.
- Mobile app and transfer speed. If you move money in and out monthly (typical for emergency fund management or paycheck buffering), ACH transfer speed matters more than 0.20% APY. Check user reviews for transfer reliability before signing up.
- FDIC coverage limits. If your balance is above $250,000, split across multiple banks or use a brokerage-housed cash account (Wealthfront, Fidelity Cash Management, Vanguard Cash Plus) that uses sweep partners for multi-million coverage.
Why are HYSA rates dropping?
HYSA APYs are tied to the Federal Reserve's target federal funds rate. When the Fed cuts rates, banks reduce HYSA APYs within one to four weeks. When the Fed raises rates, banks raise APYs more slowly (sometimes months behind). In rough terms, the top HYSA APY tracks the upper bound of the Fed's target range minus roughly 0.25 to 0.50 percentage points.
For the current Fed target range and a long-term reference of when HYSA rates have peaked and bottomed historically, see our S&P 500 vs HYSA returns by decade comparison. To model how your specific balance grows at any APY, use our daily compound interest calculator.
Frequently asked questions
What is the average HYSA rate for June 2026?
The average HYSA APY across major national online banks in June 2026 is approximately 4.4% — typical range 4.0% to 5.5%. The highest unrestricted APY is currently 5.50% (Pibank Savings). The Federal Reserve’s target rate determines the band: HYSAs typically pay 0.25 to 0.50 percentage points below the Fed funds rate top of range.
Which bank has the highest APY?
As of 2026-06-15: Pibank Savings 5.50%, BrioDirect 5.30%, Varo Bank 5.00% (on first $5K), EverBank 5.00%, Wealthfront 4.50%. Top rates change weekly; verify the bank's product page before opening an account.
What is a HYSA?
HYSA stands for High-Yield Savings Account. It's a savings account that pays significantly higher interest than traditional bank savings (typically 10x to 20x more). Most HYSAs are offered by online-only banks because they have lower overhead. They are FDIC-insured up to $250,000 per depositor per bank, identical protection to brick-and-mortar bank accounts.
Are HYSA rates safe? What about bank failures?
HYSAs at FDIC-insured banks are protected up to $250,000 per depositor per institution. If the bank fails, you get your money back within a few business days. To exceed the cap, split balances across multiple banks. Brokerage-housed accounts like Wealthfront use sweep partner banks to multiply coverage (Wealthfront covers up to $8 million across partner banks).
How often do HYSA rates change?
Rates change continuously. Banks typically adjust within 1-4 weeks after a Federal Reserve policy change. Promotional rates can change anytime. Snowballr re-checks the table monthly; current values are as of 2026-06-15.
Should I use NerdWallet, Bankrate, or DepositAccounts to find the best HYSA?
NerdWallet, Bankrate, and DepositAccounts.com are all useful, but their rankings are heavily influenced by affiliate revenue — they may rank banks higher if those banks pay larger commissions. Cross-check at least two sources and verify the rate directly on the bank's product page. Snowballr does not accept affiliate revenue from any bank in this table.
What about HYSA rates in the Philippines?
This table covers US-based FDIC-insured accounts only. In the Philippines, the top digital banks (Maya Bank, GoTyme Bank, CIMB Bank PH) currently offer 4.0% to 6.5% on the first PHP 100K, often as a promotional rate. Check the BSP-supervised banks list before opening an account.
Related Snowballr tools
Educational comparison. Rates change continuously; verify directly with each bank before opening an account. Snowballr does not earn affiliate commissions from any bank in this table. For our editorial standards and full sources index, see editorial-standards and sources.