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Elevault High Yield Savings Review
Our take: One of the highest rates we track, paid daily on up to $500,000, with free Vaults for each savings goal. App based, from a bank that just renamed itself Uplift Bank.
Pros
- 4.34% APY on balances up to $500,000
- Interest paid daily
- Free Vaults for each savings goal, including shared Vaults
Cons
- Built around the mobile app
- No interest on balances over $500,000
- Elevault's site dates the rate May 5, 2026; confirm it in the app
Key facts
- APY
- 4.34%
- Requirements
- None
- Minimum to open
- $0
- Minimum to earn APY
- None
- Monthly fee
- No monthly fee
- ATM access
- None, transfers only
- Current offer
- None right now
- Insurance
- FDIC insured through Uplift Bank (formerly Southern Bancorp Bank) up to $250,000 per depositor, per ownership category
- FDIC certificate
- 1528 (Uplift Bank (formerly Southern Bancorp Bank), Arkadelphia, AR)
- Who can open
- Open in the Elevault app.
- Mobile app
- Elevault app: 4.5 on the App Store, 4.4 on Google Play (Oct 26, 2026)
Source: Elevault website, checked Oct 27, 2026. Insurance details from the FDIC BankFind database.
Elevault pays 4.34% APY on balances up to $500,000, with no monthly fees, no minimum balance and interest paid every day. It is a savings app from Southern Bancorp Bank, which renamed itself Uplift Bank on Oct 26, 2026 (FDIC certificate 1528). Elevault lists the rate as accurate as of May 5, 2026; we checked it on Oct 27, 2026.
Elevault savings rate and terms today
| Feature | Details |
|---|---|
| APY | 4.34% on balances up to $500,000 |
| Interest | Paid daily |
| Minimum balance | None |
| Monthly fee | None |
| Moving money | Transfers to and from a linked bank; account numbers for direct deposit and bill pay |
| FDIC insured | Yes, through Uplift Bank, formerly Southern Bancorp Bank (certificate 1528) |
From Elevault’s website and help center, checked Oct 27, 2026. The rate is variable. Elevault’s site dates the rate May 5, 2026, so confirm it in the app before you move money.
Our verdict
Elevault pairs one of the highest rates we track with useful tools: Vaults to split your savings by goal, shared Vaults for joint goals, and interest that lands every day. Its app is well rated, 4.5 on the App Store and 4.4 on Google Play.
Two things to know. Interest is paid on balances up to $500,000, so very large balances earn nothing above that. And the bank behind it just changed its name from Southern Bancorp to Uplift Bank, so you may see both names on statements and the FDIC’s records for a while.
How Vaults work
A Vault is a savings bucket inside your Elevault account, such as an emergency fund, a trip or a tax bill. You can move money between Vaults, schedule recurring transfers and share a Vault with someone else. Each Vault can get its own account numbers, which Elevault calls VaultKeys, so a paycheck or a bill payment can go straight to or from a specific Vault.
How much will Elevault pay you?
| Balance | Interest in one year at Elevault | FDIC national average |
|---|---|---|
| $10,000 | $434 | $38 |
| $25,000 | $1,085 | $95 |
| $50,000 | $2,170 | $190 |
If the APY stays the same and interest stays in the account. National average from the FDIC (Oct 19, 2026).
Is Elevault safe?
Yes. Elevault is a product of Southern Bancorp Bank, now Uplift Bank, an FDIC member (certificate 1528) and a certified community development financial institution. FDIC records show the bank was founded in 1884 in Arkadelphia, Arkansas and holds about $3.0 billion in assets (June 30, 2026). Deposits are insured up to $250,000 per depositor, per ownership category. Compare it with the rest of our best high yield savings accounts.
How Elevault compares
| Account | Rating | APY | Min to open | ATM card |
|---|---|---|---|---|
| Elevault High Yield Savings | 4.6 | 4.34% | $0 | No |
| EverBank Performance Savings Account | 4.6 | 4.20% | $0 | No |
| Happen Bank LevelUp Savings | 4.6 | 4.20% | $0 | Yes |
| Bread Savings High Yield Savings Account | 4.6 | 4.05% | $100 | No |
| Peak Bank Envision High Yield Savings | 4.5 | 4.27% | $100 | No |
| Newtek Bank Personal High Yield Savings Account | 4.5 | 4.20% | $100 | No |
| Openbank High Yield Savings Account | 4.5 | 4.00% | $500 | No |
| E*TRADE Premium Savings | 4.5 | 3.75% | $0 | No |
| Axos ONE Savings | 4.4 | 4.21% | $0 | Yes |
| Always.bank High Yield Savings Account | 4.4 | 4.10% | $0 | No |
| Barclays Tiered Savings | 4.4 | 3.50% | $0 | No |
| Capital One 360 Performance Savings | 4.4 | 3.20% | $0 | No |
| Valley Direct High Yield Savings | 4.3 | 3.30% | $1,000 | No |
| Ally Bank Savings Account | 4.3 | 3.20% | $0 | No |
| American Express High Yield Savings Account | 4.3 | 3.20% | $0 | No |
| Pibank Savings | 4.2 | 4.40% | $0 | No |
| Western Alliance Bank High Yield Savings Premier | 4.2 | 3.80% | $500 | No |
| Ivy Bank High Yield Savings Account | 4.1 | 4.00% | $2,500 | No |
| SoFi Checking and Savings | 4.1 | 3.30% | $0 | Yes |
| Alto Online Savings (BMO) | 4.0 | 3.00% | $0 | No |
Elevault savings FAQ
What is the Elevault savings rate?
4.34% APY on balances up to $500,000. Elevault lists the rate as accurate as of May 5, 2026. The rate is variable.
Is Elevault FDIC insured?
Yes. Elevault is a product of Southern Bancorp Bank, now Uplift Bank, FDIC certificate 1528. Deposits are insured up to $250,000 per depositor, per ownership category.
What is Uplift Bank?
Southern Bancorp Bank, the bank behind Elevault, changed its name to Uplift Bank on Oct 26, 2026.
Does Elevault charge fees?
Elevault says there are no monthly maintenance fees and no minimum balance requirements.
How often does Elevault pay interest?
Every day. Interest is paid daily on balances up to $500,000.
Ready to open Elevault High Yield Savings?
Rates as of May 5, 2026. Confirm the current rate and terms on the provider’s site before you apply.