High-yield savings accounts have been one of the biggest financial stories of the last three years. After nearly 15 years of near-zero rates, American savers can now earn 4-5% APY on cash — more than the historical average S&P 500 real return in some years.
The best HYSA rates in 2026
| Bank | APY (2026 est.) | Minimum | FDIC insured |
|---|---|---|---|
| Marcus by Goldman Sachs | 4.5-5.0% | $0 | Yes |
| Ally Bank | 4.3-4.8% | $0 | Yes |
| SoFi | 4.5-5.0% | $0 | Yes |
| Discover Online Savings | 4.2-4.6% | $0 | Yes |
| Your traditional bank | 0.01-0.5% | $0 | Yes |
HYSA vs Money Market Fund vs T-bills
- HYSA: FDIC insured, instant/same-day access, rate is variable. Best for emergency fund.
- Money Market Fund (Fidelity SPAXX, Vanguard VMFXX): Not FDIC insured (but very safe), slightly higher yield, next-day access. Good for larger amounts.
- 4-week T-bills: US government backed (safer than any bank), competitive yield, but money locked until maturity (rolls every 4 weeks). Good for stable short-term savings.
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About the author
Enrique 'Kike' Faúndez is an Information Systems and Management Control Engineer from Universidad de Chile, with master’s degrees in Finance from Universidad de Chile and Industrial Engineering from Pontificia Universidad Católica de Chile. He has 15+ years of experience in regulated financial services across finance, operations, and digital product development. He founded CashControlly in Santiago, Chile, with the conviction that personal financial control should not be a privilege, but an accessible and well-designed tool.
- Master's in Finance, Universidad de Chile
- Master's in Industrial Engineering, Pontificia Universidad Católica de Chile
- Information Systems and Management Control Engineer, Universidad de Chile
- AI and ITIL certifications
- 15+ years in regulated financial services
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