10 Best Online Savings Accounts for May 2026

If online savings accounts may is on your radar, this short guide cuts through the noise. Here is what is worth knowing, and how to put it to work today.

Key Takeaways

• 10 Best Online Savings Accounts for May 2026 Advertiser Disclosure Our readers always come firstThe content on DollarSprout includes links t...
• When you read our content and click on one of our partners’ links, and then decide to complete an offer , whether it’s downloading an app, o...
• Our ultimate goal is to educate and inform, not lure you into signing up for certain offers.

10 Best Online Savings Accounts for May 2026 Advertiser Disclosure

Our readers always come first

The content on DollarSprout includes links to our advertising partners. When you read our content and click on one of our partners’ links, and then decide to complete an offer , whether it’s downloading an app, opening an account, or some other action , we may earn a commission from that advertiser, at no extra cost to you.

Our ultimate goal is to educate and inform, not lure you into signing up for certain offers. Compensation from our partners may impact what products we cover and where they appear on the site, but does not have any impact on the objectivity of our reviews or advice.

Written by DollarSprout Last Updated: May 13, 2026

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Editorial Disclaimer: Please note that, although we regularly update this page, you should research a bank's website to get the most up-to-date information available. Some of the links on this page may be from our partners. Here's how we make money.

The national average savings account pays just 0.63% APY, but numerous online banks offer rates 10x that, making it possible to earn significantly more on your savings. By minimizing overhead costs, online savings accounts can provide higher yields and fewer fees.

Whether you’re building an emergency fund or seeking better returns on your cash, exploring high-yield online savings options can help you maximize your earnings.

Best Overall

To help you find the best online savings account for your needs, we analyzed dozens of options based on factors like APY, fees, and user experience. After reviewing everything side by side, these accounts stood out on top. [See our full methodology.]

1. Axos ONE® High-APY Savings & Checking - Up to 4.21% APY¹

Axos ONE is a hybrid checking and savings account that rewards high depositors with up to 4.21% APY. There are no monthly fees, and users get access to 95,000+ fee-free ATMs nationwide. Axos consistently offers one of the highest publicly available APYs, making it a strong option for maximizing returns if you meet the deposit and balance requirements.

Learn More Up to 4.21% APY $0 Minimum Deposit

DollarSprout Rating

Axos ONE combines high-yield savings with everyday checking in a single, fee-free account. Shoppers can earn up to 4.21% APY when they meet monthly deposit and balance requirements. With access to 95,000+ fee-free ATMs, no maintenance or overdraft fees, and a mobile-first design, it is ideal for users who want to streamline their finances while earning one of the highest available rates.

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Pros

• No monthly fees or minimum deposit
• Industry-leading APY potential
• Access to 95,000+ fee-free ATMs
• All-in-one checking + savings functionality
• FDIC-insured

Cons

• Must meet deposit and balance requirements to earn max APY
• No physical branches
• High APY only applies to eligible balances

Disclosures:

1 APY , Tiered variable APY. Balance & activity requirements apply.

2. CIT Bank Savings Connect - 3.65% APY

CIT Bank’s Savings Connect account rewards users who consistently grow their savings, helping to build strong financial habits over time. It requires a $100 minimum to open, but there are no maintenance fees, and most transactions can be handled through the mobile app.

Learn More 3.65% APY $100 Minimum Deposit

DollarSprout Rating

CIT Bank Savings Connect consistently offers an industry leading APY making it one of the most desirable high-yield savings accounts on the market. Now a division of First-Citizens Bank & Trust Company, FDIC-insured, CIT Bank offers all the stability a traditional brick and mortar bank, but has the added versality of robust interest rates typically found at exclusively online banks.

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Pros

• Low minimum deposit requirements.
• No monthly service fees. 

  Final Thoughts

  The bottom line: a little research on online savings accounts may goes a long way. Compare your options, watch for seasonal offers, and never pay full price when a better deal is one click away.

  Originally published at dollarsprout.com.