High-yield savings accounts: Best rates and top picks for May 2026

MoneyWatch: Managing Your Money High-yield savings accounts: Best rates and top picks for May 2026 We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. .chip { background-image: url('/fly/bundles/cbsnewscore/images/chip-bgd/chip-bgd-moneywatch.jpg'); } By Angelica Leicht Angelica Leicht Senior Editor, Managing Your Money Angelica Leicht is the senior editor for the Managing Your Money section for CBSNews.com, where she writes and edits articles on a range of personal finance topics. Angelica previously held editing roles at The Simple Dollar, Interest, HousingWire and other financial publications. Read Full Bio Angelica Leicht May 1, 2026 / 2:46 PM EDT / CBS News Add CBS News on Google There are multiple, lucrative high-yield savings accounts for savers to consider this month. DAVID BENITO/DBenitostock/Getty Images High interest savings accounts are once again drawing attention as interest rates remain elevated compared to just a few years ago. While the Federal Reserve has begun easing its benchmark rate, savers can still find competitive yields that significantly outperform traditional savings accounts. That makes this a critical moment for anyone holding cash to reconsider where their money sits.At their core, high-yield savings accounts are designed to help your money grow faster without taking on market risk. These federally-insured deposit accounts typically offer rates far above the national average, which currently sits at just 0.38%, according to the FDIC. Today's top available high-yield savings rate, though, which is offered by Axos Bank, is substantially higher at 4.21%. Still, not all high-yield savings accounts are created equal and the interest rate is just one factor worth weighing. Whether you're building an emergency fund, saving for a home or just looking to stop leaving money on the table, the question is which high-yield savings account is actually worth opening righ...