If you have some cash you do not need for the time being, and you do not want to keep chasing bank account opening bonuses, the simplest approach is to park it in an account with a relatively high long-term rate and earn interest. Many savings accounts at traditional big banks now offer only around 3% APY, but there are still quite a few 4%+ high-yield savings accounts on the market. In addition, platforms such as X Money, Robinhood, Moomoo, and Webull also offer high-yield features for idle cash, and some are even higher than traditional HYSAs.

This article only compares standard rates that can be maintained over the long term. It does not take into account account opening bonuses or temporary boosts. That said, “long term” here does not mean the rate is locked forever. APYs for savings accounts and cash sweep programs are generally variable and will still change with market rates. In short, if you just want to find one account to park money for the long term without doing any tasks, I would first look at Elevault, Newtek, and Pibank. If you can reliably complete direct deposit, X Money’s current maximum 6% APY is clearly in a higher tier. Robinhood, Moomoo, and Webull are more suitable for people who already invest on those platforms, since cash sitting in a brokerage account can earn interest without being moved back and forth.

Account Current long-term rate Main requirements Fees Deposit protection
X Money Up to 6.00% APY Premium + $1,000 eligible DD, or Premium+ $84-$395/year FDIC Sweep, up to $10M
Elevault 4.34% APY Basically no requirements $0 FDIC
Axos ONE Savings Up to 4.21% APY Must pair with Checking and meet deposit requirements $0 FDIC
Newtek Bank 4.20% APY $100 to open $0 FDIC
Pibank Savings 4.10% APY No minimum balance $0 FDIC
Live Oak Bank 4.00% APY No minimum balance $0 FDIC
Bread Savings 3.95% APY $100 to open $0 FDIC
Openbank 3.80% APY $500 to open $0 FDIC
CIT Platinum Savings 3.75% APY At least $5,000 balance $0 FDIC
Robinhood Gold 3.60% APY Gold membership $50/year FDIC Cash Sweep
Moomoo Cash Sweep Up to about 3.60% APY Moomoo membership $0.99/month FDIC Cash Sweep
Webull Cash Management 3.60% APY Higher rate with Premium Premium $40/year FDIC Cash Sweep

X Money: Up to 6% APY

The most attractive part of X Money right now is its maximum 6.00% APY. Premium users can normally earn 4.00% APY. If they receive at least $1,000 in total qualifying deposits within the past 34 days, the rate increases to 6.00%. Premium+ users do not need to meet this deposit requirement and can directly earn 6%. The qualifying deposits here mainly refer to eligible payroll direct deposits and some X Creator income; a regular ACH transfer of $1,000 from another bank generally does not count.

However, X Money is not completely free, because opening an account requires X Premium or Premium+. In the U.S., Premium currently costs $84/year on the web, while Premium+ costs $395/year, so if you are using it only to earn interest, you still need to factor in the membership fee. For example, using a free 4% HYSA as the baseline, after Premium meets the requirement, the extra interest is about 2%. An average deposit of around $4,200 would cover the $84 annual fee. For Premium+, if the only purpose is to avoid the DD requirement, the 2% rate spread alone would require close to $20,000 to cover the membership fee, making it clearly less cost-effective. Fortunately, we can use LemFi, brokerages, or bank ACH transfers to do a fake direct deposit, so the Premium annual fee is enough.

X Payments LLC itself is not a bank. Funds are held by Cross River Bank and other FDIC-insured institutions, and eligible funds can receive up to $10M in aggregate FDIC coverage through the sweep program. New York residents currently cannot earn X Money interest. Overall, if you already use X Premium, or if you can reliably complete a $1,000 DD every 34 days, I think X Money is indeed one of the most worth-watching products for long-term cash parking right now.

Elevault: 4.34% APY

If you do not want to do direct deposit and do not want to pay a membership fee, Elevault is one of the simplest options right now. The current rate is 4.34% APY, with no monthly fee and no minimum deposit requirement. Interest is paid daily, and balances up to $500,000 can earn interest. Elevault looks more like a fintech app, but the underlying banking services are actually provided by Southern Bancorp, and deposits are FDIC-insured deposits.

One thing to note is that deposits initiated from within the Elevault App currently have a $2,500 daily limit, so slowly pulling a large amount of money into the account from the app can be inconvenient. However, you can initiate transfers from an external bank using the ACH routing number and account number. Looking purely at “unconditional long-term high yield,” I think this is very strong right now: 4.34% with no DD, no membership fee, and no complicated balance tasks.

Axos ONE Savings: Up to 4.21% APY

Axos ONE Savings can currently earn up to 4.21% APY. The first $249,999.99 can earn this rate, while the portion above $250,000 currently earns 3.50%. However, this is not an unconditional high yield account. You need to also use Axos ONE Checking. One way is to receive at least $1,500 in qualifying direct deposits each month and maintain at least a $1,500 average daily balance in Checking. Another way is to receive at least $5,000 in qualifying deposits each month and maintain at least a $5,000 average daily balance in Checking. If you do not meet the requirements, the standard Savings rate is currently only 1.00%.

So Axos is actually better suited for people who are already willing to move their payroll or everyday cash flow there. Although 4.21% is not low, it is only 0.01% higher than Newtek’s 4.20%. If your only goal is to save money, I do not think it is worth doing an extra set of Checking tasks for that 0.01%. If you already plan to use Axos ONE, then this rate is quite good. In addition, Axos has its own Insured Deposit Program, which can provide up to $2.5M in additional FDIC coverage for larger balances.

Newtek Bank: 4.20% APY

Newtek Bank’s Personal High Yield Savings is currently at 4.20% APY. It has a $100 minimum opening deposit, no monthly fee, and no direct deposit, debit card transaction, or extra membership requirements. Newtek Bank N.A. itself is an FDIC member bank, so this is a pretty standard high-yield savings account.

Pibank Savings: 4.10% APY

Pibank Savings is currently at 4.10% APY. It has no monthly fee and no minimum balance requirement, earns interest at the current rate starting from $0.01, and is an FDIC-insured deposit. Structurally, it is also quite clean like Newtek: no payroll direct deposit requirement and no other monthly tasks to complete.

Live Oak Bank: 4.00% APY

Live Oak Bank’s Personal Savings is currently at 4.00% APY. It has no monthly maintenance fee and no minimum balance requirement, and deposits are directly FDIC-insured through Live Oak Bank. Looking only at the rate, it is now slightly lower than Elevault, Newtek, and Pibank, but 4% is still a level where you can keep money long term.

The best part about Live Oak is that it currently has a $300 account-opening bonus that can be stacked with the 4% rate. If you already have a Live Oak account, I do not think there is any need to move your money immediately just for 0.1%-0.3%; if you are starting from zero and specifically opening a high-yield account now, then the earlier options currently have more advantages.

Bread Savings: 3.95% APY

Bread Savings’ High Yield Savings is currently at 3.95% APY. It has a $100 minimum opening deposit, no hidden fees, interest that accrues and compounds daily, and is an FDIC-insured deposit. The overall structure is also fairly simple, with no payroll direct deposit, debit card, or membership tasks. Bread’s ACH limits can be about $1M inbound / $100k outbound, so it is fairly convenient for moving larger amounts in and out.

Openbank: 3.80% APY, under Santander

Openbank is a digital bank under Santander Bank. Its High Yield Savings is now at 3.80% APY, with a $500 minimum opening deposit and no monthly fee. Compared with the relatively smaller online banks above, its advantage is that Santander is directly behind it. However, deposits at Openbank and Santander Bank must be combined when calculating FDIC coverage limits; the two brands do not each provide a separate $250,000 insurance limit.

If you care more about bank size and brand, this account is still worth considering. They also currently have a limited-time promotion with an extra 0.35% interest for the first six months, bringing the combined rate to 4.15%, which is quite competitive.

CIT Platinum Savings: 3.75% APY

CIT Bank’s Platinum Savings currently has a long-term standard rate of 3.75% APY, but the account balance must be at least $5,000; once it falls below $5,000, the current APY is only 0.25%. The account can be opened with a $100 minimum and has no monthly maintenance fee, so the main thing to watch is really the $5,000 rate threshold.

CIT has often been in the first tier of high-yield savings accounts in the past, and it also frequently offers temporary APY boosts. Existing customers can often call in to activate extra interest as well. In addition, they occasionally have account-opening bonuses, so you can wait until there is a bonus and stack it with the high interest rate. Right now, new accounts get an extra 0.35% interest for six months, bringing the combined rate to 4.1%.

Robinhood Gold: 3.60% APY

Eligible uninvested cash in Robinhood Gold can currently earn 3.60% APY. Robinhood itself is not a bank; eligible cash can be moved through the Cash Sweep Program into partner banks to receive FDIC coverage. However, this high-yield feature requires Robinhood Gold, which currently costs $5/month, so if you are opening Gold specifically to earn interest, you need to factor in the membership fee as well.

For example, if you put in $10,000, at 3.60% APY it would generate about $360 in interest in one year. After subtracting the $60 annual cost of the monthly membership fee, you would actually be left with only about $300. That return is actually worse than simply putting the money into a free 4%+ HYSA. So I do not recommend subscribing to Gold purely for the high yield, but if you are already using Gold because of the Robinhood Gold Card, IRA Match, margin, or other benefits, then you would be paying the membership fee anyway, and earning 3.6% on idle brokerage cash is very convenient.

Moomoo Cash Sweep 3.6% APY

Moomoo also offers a Cash Sweep Program. Idle cash in a brokerage account can be automatically swept to partner banks to earn interest, and eligible accounts can currently earn a base high-yield rate of up to about 3.60% APY. However, it is a bit different from a regular HYSA. Not every existing account can unconditionally receive this rate forever: new users and accounts that meet specified deposit, transfer, or referral requirements can receive the higher rate tier, while ineligible accounts may have a very low rate. In practice, you should still rely on the rate shown in your own account.

Moomoo’s main advantage is convenience. If you already trade stocks there, cash that is temporarily uninvested after selling does not need to be transferred to another bank. After Cash Sweep, it can both earn interest and remain available when you need to trade. Once the relevant funds enter a Program Bank, they may receive FDIC pass-through coverage according to each bank’s rules. It is worth noting that they have solid account-opening bonuses, up to 8.1% APY and $1,000+ in stock rewards. If you are interested in opening a new account, using their account can be a better deal.

Webull Cash Management

Webull also offers Cash Management. Eligible uninvested cash can automatically earn 3.6% APY, with up to several million dollars of FDIC Sweep coverage through partner banks. Webull Premium is currently $3.99/month or $40/year, and Premium users can earn a higher cash rate. However, Webull no longer displays the real-time APY directly on a public webpage and instead requires users to log in to the app to view it, so I will not hard-code a number here that may quickly become outdated.

The logic of this account is similar to Robinhood and Moomoo: if you already trade on Webull, it is very convenient to leave idle cash there and earn interest. If you do not invest at all and are simply looking for a long-term place to park cash, there is no need to pay for a Premium membership just for Cash Management; a free 4%+ HYSA would be simpler. That said, Webull’s advantage is that it often has account-opening promotions. Right now, it is offering 12 fractional shares, and you can earn 5% APY for the first 30 days on up to $10k in funds.

Other Ideas

In addition to bank savings accounts and Cash Sweep programs, if the money is already in a brokerage account, I think you can also consider SGOV or buying short-term U.S. Treasury bills directly. SGOV is the iShares 0-3 Month Treasury Bond ETF. It mainly holds 0-3 month U.S. Treasury Bills, and its 30-Day SEC Yield as of September 21, 2026 was 3.65%. The expense ratio is only 0.09%, and its price fluctuation is usually very small, so it is often used as a cash-management tool inside brokerage accounts.

The biggest difference between SGOV and the high-yield accounts mentioned above is that SGOV is not a bank deposit and does not have FDIC insurance. It is an ETF whose underlying holdings are mainly short-term U.S. Treasuries. When you need to use the money, you are not withdrawing directly from a bank; instead, you sell the ETF during market hours and then wait for securities settlement and the transfer. So if this is cash you may need at any time to pay credit cards, rent, or emergencies, I still prefer an HYSA. If the money is already sitting in a brokerage account waiting to buy stocks later, SGOV is a good fit.

Another approach is to buy Treasury Bills directly. The U.S. Treasury currently issues T-Bills with various maturities on a regular schedule, such as 4, 8, 13, 26, and 52 weeks. You can buy them through a brokerage, or participate in auctions directly through TreasuryDirect. T-Bills are usually purchased at a discount and redeemed at face value at maturity; the difference is the interest. Treasuries also have an important tax advantage: Treasury interest is subject to federal income tax, but exempt from state and local income taxes. Therefore, if you live in a high-state-tax place such as California or New York, even if the headline yield on Treasuries is slightly lower than an HYSA, the after-tax yield may actually be higher. Most of SGOV’s income also comes from U.S. Treasuries, but the exact percentage eligible for state-tax exemption each year must be calculated based on data published by the fund company for that year. You cannot simply assume that 100% of all dividends are exempt from state tax.

Of course, if you are interested in investing and can tolerate some risk, you can also consider other ETFs.

Summary

To sum up, if you can reliably complete Direct Deposit requirements, I would first look at X Money 6% APY. If you do not want to do any tasks at all, free 4%+ HYSAs such as Elevault, Newtek, and Pibank are the most hassle-free. If you already invest through Robinhood, Moomoo, or Webull, the Cash Sweep inside the brokerage is also completely usable, and there is no need to move money around frequently for a few tenths of a percentage point in rate difference. If your funds are already in a brokerage account and you will not use them to pay bills in the short term, you can also compare SGOV and T-Bills, especially if you live in a high-state-tax area.

Finally, a reminder: the APYs on these accounts are basically variable. There is no need to move money every day for a 0.05%-0.1% difference, but if your own account has long been 1% or more below the mainstream market level, then it really is time to switch. This article will also continue to be updated as each provider’s rates change.

Personally, I actually do not really recommend just parking money in these accounts for the long term to collect interest. Money has to move to make money. You can check out our series of articles below. Combining account-opening bonuses can greatly improve your effective return, and by moving money around, achieving something like 10% APY per year is very easy.

Big Bonus Roundup

The accounts below all have very solid sign-up bonuses. Pick the ones you like and earn some extra cash. Over time, those small amounts add up, and in a year you can earn a good amount of money and travel funds from these financial accounts.