Best Free Savings Accounts for July 2026: Up to 4.26%

Why You Can Trust Us

Investopedia collects savings account rates from over 100 banks and credit unions every business day. When ranking free savings accounts, we look at fees along with rates, balance requirements, minimum deposit requirements, and more. Our unbiased research is intended to provide readers with the best rates available, regardless of any affiliate or partner relationships we may have. Investopedia launched in 1999 and has been helping readers find the best free savings accounts since 2021.

How We Find the Best Free Savings Account Rates

Every business day, Investopedia’s full-time research and compliance teams track the rate data of over 100 banks and credit unions that offer savings accounts. To qualify as free, accounts must have no monthly maintenance fees, no recurring deposit requirements, and no requirements to hold other accounts at the institution. Credit unions often require membership in affiliated organizations that require small, one-time fees, and we do include those as long as the account itself is free. Additionally, financial institutions must be federally insured (FDIC for banks, NCUA for credit unions). We rank the best free savings accounts based on APY first, followed by other factors like required balance to earn that APY.

Revolut Disclosure
**The Annual Percentage Yield (APY) is a variable rate and may change at any time. APYs are accurate as of 09/29/2025. APYs vary by plan and account type. The rates are as follows: Standard Plan: 4.00% APY for balances in a High Yield Account; 3.25% APY for balances in other Savings Accounts. Premium Plan: 4.50% APY for balances in a High Yield Account; 3.35% APY for balances in other Savings Accounts. Metal Plan: 5.50% APY for balances in a High Yield Account; 3.75% APY for balances in other Savings Accounts.
Revolut is not a bank. Plan fees and cancellation fees apply for Premium and Metal plans. This is a variable rate account and the APY may change without notice. T&Cs apply. No min balance to open; $0.01 min. to earn APY. Only 1 High Yield Account is permitted and is limited to $10,000 USD in user initiated deposits. The max combined balance of all Savings Accounts is $250,000 per user. Savings Account services provided by Cross River Bank, Member FDIC, insured up to $250,000.

E*TRADE Premium Savings Account Disclosure
*To be eligible, you must apply promo code SAVING26 at the time of account opening. This promotional code is intended for single use only.
This offer is only valid for a new Premium Savings Account (PSA). This offer is not valid for Checking, Max-Rate Checking or line of credit accounts that we or our affiliates offer. IRA and non-IRA Brokerage accounts are ineligible. This offer is only eligible for one newly opened and funded Premium Savings Account (PSA) that is funded within 30 days of opening. Excludes non-U.S. residents, and residents of any jurisdiction where this offer is not valid. Customer may only be enrolled in one PSA cash bonus offer at a time. Cannot be combined with any other PSA cash bonus offers.
Each customer is limited to a lifetime maximum of two new Premium Savings Account cash bonus offers. Offer may be removed at any time. Other restrictions may apply.

**This offer is only valid for a new Premium Savings Account (“PSA”). This offer is not valid for Checking, Max-Rate Checking or line of credit accounts that MSPBNA or its affiliates offer. IRA and non-IRA Brokerage accounts are ineligible. The Promotional Annual Percentage Yield (“Promotional APY”) will be automatically applied to the account, and will remain effective for 180 days (the “Promotion Period”), after which it will automatically revert to the Standard Annual Percentage Yield (“Standard APY”) without requiring any action from you. Accounts must be opened by September 30, 2026 to qualify for the Promotional APY. No minimum balance required, and the offer may be withdrawn at any time. Excludes non-U.S. residents, and residents of any jurisdiction where this offer is not valid. Other restrictions may apply. Please visit etrade.com/premiumsavings for more information.

^No minimum initial deposit required to open an account. However, the account must be funded within 90 days to remain open.

†The Premium Savings Account gives Morgan Stanley Private Bank, National Association, Member FDIC the ability to send any amount held on deposit in your Premium Savings Account to other depository accounts at Federal Deposit Insurance Corporation (“FDIC”) member banks with the purpose of affording you additional FDIC insurance coverage. It is designed to offer up to $500,000 in FDIC coverage to individual accounts (up to $1 million for joint accounts). Certain conditions must be met. Learn More.

CIT Bank Platinum Savings Disclosure
*Platinum Savings is a tiered interest rate account. Interest is paid on the entire account balance based on the interest rate and APY in effect that day for the balance tier associated with the end-of-day account balance. APYs — Annual Percentage Yields are accurate as of Jan. 9, 2026: 0.25% APY on balances of $0.01 to $4,999.99; 3.75% APY on balances of $5,000.00 or more. Interest Rates for the Platinum Savings account are variable and may change at any time without notice. The minimum to open a Platinum Savings account is $100.
This is a limited time offer available to New and Existing customers who meet the Platinum Savings APY Boost promotion criteria. Accounts enrolled in the Platinum Savings Annual Percentage Yield (APY) Boost promotion will receive a 0.35% APY boost on the Platinum Savings current standard APY tiers for 6 months following the opening of a new account or when an existing Platinum Savings account is enrolled in the promotion. The Platinum Savings APY boost will be applied on account balances up to $9,999,999.00. Account balances above $9,999,999.00 will earn the standard APY. If the standard-published APY should change during the promotion period, the APY boost will move with it, offering an account APY above the standard rate. The Promotion begins on Feb. 13, 2026, and ends Aug. 31, 2026. Customers enrolled in the promotion prior to the end date will receive the APY boost for the 6-month period outlined in the terms and conditions. The promotion can end at any time without notice.
For complete list of account details and fees, see our Personal Account disclosures.” [https://www.cit.com/cit-bank/resources/forms]

SoFi Disclosures
New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received within 25 calendar days of your first Eligible Direct Deposit of $1 or more) OR $400 (with at least $5,000 total Eligible Direct Deposits received within 25 calendar days of your first Eligible Direct Deposit of $1 or more). Cash bonus amount will be based on the total amount of Eligible Direct Deposit received within 25 calendar days of your first Eligible Direct Deposit of $1 or more. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 5/15/2026 and will be available through 12/31/26. See full bonus and annual percentage yield (APY) terms at sofi.com/banking/checking-offer/

Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 5/28/26. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet

We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Bank Fee Sheet for details at sofi.com/legal/banking-fees/.

SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at SoFi.com/banking/fdic/sidpterms. See list of participating banks at SoFi.com/banking/fdic/participatingbanks.

We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees may be incurred when using out-of-network ATMs. SoFi’s ATM policies are subject to change at our discretion at any time.

Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.

Overdraft Coverage is a feature automatically offered to SoFi Checking and Savings account holders who receive at least $1,000 or more in Eligible Direct Deposits within a rolling 31 calendar day period on a recurring basis. Eligible Direct Deposit is defined on the SoFi Bank Rate Sheet, available at https://www.sofi.com/legal/banking-rate-sheet. Members enrolled in Overdraft Coverage may be covered for up to $50 in negative balances on SoFi Bank debit card purchases only. Overdraft Coverage does not apply to P2P transfers, bill payments, checks, or other non-debit card transactions. Members with a prior history of unpaid negative balances are not eligible for Overdraft Coverage. Eligibility for Overdraft Coverage is determined by SoFi Bank in its sole discretion. Members can check their enrollment status, if eligible, at any time by logging into their account through the SoFi app or on the SoFi website.

Earn up to 3.80% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.10% APY) for up to 6 months. Open a new SoFi Checking & Savings account with Eligible Direct Deposit by 12/31/26. Rates variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.

Capital One 360 Performance Savings Disclosure
Capital One 360 Performance Savings: A rate of 3.00% Annual Percentage Yield (APY) applies to all account balances. Advertised rates are variable and effective as of 6/02/2026. Rates are subject to change at any time before or after account opening. The 360 Performance Savings account has no monthly cycle service charge and no minimum balance required to open or maintain the account.