Best FDIC Insured High Yield Savings Accounts
Every high yield savings account we track, with the FDIC insured bank behind it and its certificate number, checked in the FDIC's own database.
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The highest rate we track at an FDIC insured bank is 4.40% APY at Pibank Savings. Every savings account we rank is held at an FDIC insured bank and covered up to $250,000 per depositor, per bank, per ownership category. We confirmed each bank’s certificate in the FDIC’s BankFind database on Oct 14 and 15, 2026.
Online savings accounts often carry a brand name that is not the name of the bank holding your money. That is normal, but it matters for insurance: the FDIC covers the bank, not the brand. The table below shows the bank behind each account we track and the certificate number you can look up yourself.
FDIC insured high yield savings accounts compared
| Account | APY | Insured bank | FDIC certificate | Coverage beyond $250,000 |
|---|---|---|---|---|
| Peak Bank Envision | 4.27% | Idaho First Bank (Peak Bank is a division) | 58095 | No |
| Axos ONE Savings | 4.21% with monthly deposit and balance rules | Axos Bank | 35546 | Up to $2.5 million more through its Insured Deposit Program |
| Happen Bank LevelUp Savings | 4.20% with $250 or more in deposits each month | Happen Bank, N.A. | 32551 | No |
| Always.bank High Yield Savings | 4.10% | 22nd State Banking Company (Always.bank is a division) | 16910 | No |
| Ivy Bank High Yield Savings | 4.00% on balances of $2,500 or more | Cambridge Savings Bank (Ivy Bank is a division) | 17870 | No |
| Western Alliance High Yield Savings Premier | 3.80% | Western Alliance Bank | 57512 | No |
| E*TRADE Premium Savings | 3.75% | Morgan Stanley Private Bank, N.A. | 34221 | Up to $500,000 individual, $1 million joint, through partner banks |
| SoFi Checking and Savings | 3.30% with direct deposit or $5,000 in deposits every 31 days | SoFi Bank, N.A. | 26881 | Up to $3 million more through partner banks |
| American Express High Yield Savings | 3.20% | American Express National Bank | 27471 | No |
| Capital One 360 Performance Savings | 3.20% | Capital One, N.A. | 4297 | No |
APYs are live from our rate checks; each account’s review shows the date the bank gives for its rate. Rates are variable. FDIC certificates confirmed active in FDIC BankFind on Oct 14 and 15, 2026. Extra coverage programs place money at partner banks and have conditions; see each review for details. For comparison, the FDIC national average savings rate is 0.38% (as of Oct 19, 2026).
What does FDIC insurance cover?
FDIC insurance protects deposits if an insured bank fails. The standard limit is $250,000 per depositor, per insured bank, for each account ownership category. Single accounts, joint accounts and certain retirement accounts are separate categories, so a couple with a joint account can be covered up to $500,000 at one bank.
- Covered: savings accounts, checking accounts, money market deposit accounts and CDs.
- Not covered: stocks, bonds, mutual funds, money market funds, crypto and annuities, even if you bought them through a bank.
Credit union accounts get the same $250,000 coverage through the NCUA instead of the FDIC. For what happens to your money if a bank does fail, see what happens if your bank fails.
Brand names share one limit
Several of the best rates come from divisions of larger banks. Peak Bank is part of Idaho First Bank, Ivy Bank is part of Cambridge Savings Bank, and Always.bank is part of 22nd State Banking Company. Axos also runs several brands under Axos Bank.
Money held under a brand and its parent bank is added together for the $250,000 limit. For example, $200,000 in a Peak Bank account plus $100,000 in an Idaho First Bank account, both in your own name, is $300,000 at one bank, so $50,000 would not be insured. Spreading money across different banks avoids this.
How to check that a savings account is FDIC insured
- Find the bank’s legal name. Look in the account’s fine print or footer for “Member FDIC” and the bank that holds deposits.
- Look it up in BankFind. Search the bank on the FDIC’s BankFind Suite at banks.data.fdic.gov and confirm it shows as active.
- Match the certificate number. Compare it with the number the bank lists, or with the table above.
- Be careful with apps. Some popular money apps are not banks; they hold your money at partner banks. See is Chime a bank? for how that works.
Need coverage above $250,000?
You can use several banks, add joint or trust ownership categories, or use an account with an extra coverage program. E*TRADE, SoFi and Axos spread deposits across partner banks to raise coverage, when their conditions are met. See how to insure more than $250,000.
How we picked these accounts
We track high yield savings accounts from FDIC insured banks only, rank them by the rate you can actually get and the rules attached, and check every rate on the bank’s own site at least weekly. Our full ranking is on our best high yield savings accounts page and follows our published scorecard.
See the average rate online banks pay this week in the BankingPicks Savings Rate Index.
Frequently asked questions
Are high yield savings accounts FDIC insured?
Yes, when they are held at an FDIC insured bank. Every account we track is, up to $250,000 per depositor, per bank, per ownership category.
What is the best FDIC insured savings account right now?
The highest rate we track is 4.40% APY at Pibank Savings. Check each account’s rules and minimums before you open one.
Are online savings accounts FDIC insured?
Online banks are insured the same way as branch banks. Confirm the bank’s name and certificate in the FDIC’s BankFind database.
Is money in a brand like Peak Bank or Ivy Bank insured separately from its parent bank?
No. Deposits under a brand and its parent bank are combined toward one $250,000 limit per ownership category.
Are money market funds FDIC insured?
No. Money market deposit accounts at banks are insured; money market funds sold by brokerages are investments and are not.
Compare today’s top savings rates
Happen Bank LevelUp SavingsAPY as of Oct 23, 20264.20%with $250 or more in deposits each monthReview →
