If you have some cash you do not need for the time being and 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 interest rate and earn interest. These days, many savings APYs at traditional big banks are only around 3%, 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 regular rates that can be maintained over the long term. It does not consider account opening bonuses or temporary boosts. That said, “long term” here does not mean the rate is permanently locked. APYs for savings accounts and cash sweep programs are generally variable and will still change with market interest rates over time. In short, if you just want an 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 requirements, X Money’s current maximum 6% APY is clearly in a higher tier. Robinhood, Moomoo, and Webull are better suited for people who already invest on those platforms, since idle cash in the brokerage account can earn interest without being moved back and forth.

Account Current Long-Term Rate Main Requirements Fees Funds Protection
X Money Up to 6.00% APY $1,000 eligible DD, or Premium+ $84-$395/year FDIC Sweep, up to $10M
Elevault 4.34% APY Essentially 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 Balance of at least $5,000 $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. Regular users can usually earn 4.00% APY. If you have received a total of at least $1,000 in 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 get 6% directly. Here, qualifying deposits mainly mean eligible payroll direct deposits and certain X Creator earnings; simply transferring $1,000 from another bank via a regular ACH transfer generally does not count. According to user data points, some people have used LemFi, brokerages, or bank ACH transfers as simulated direct deposits to get the 6% APY. For details, see:

X Payments LLC itself is not a bank. Funds are held by Cross River Bank and other FDIC-insured institutions, and eligible users can receive up to $10M in aggregate FDIC coverage through the sweep program. New York residents currently cannot earn interest with X Money. Overall, if you do not mind this type of financial account tied to a social media platform, X Money is indeed one of the products most worth considering right now for parking cash over the long term.

Elevault: 4.34% APY

If you do not want to do direct deposit and do not want to pay a membership fee, Elevault is currently one of the simplest options. The current rate is 4.34% APY, with no monthly fee or minimum deposit requirement. Interest is paid daily, and balances up to $500,000 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 daily limit of $2,500, so pulling in a large amount of money slowly through the app can be inconvenient. However, you can initiate transfers from an external bank using the 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 direct deposit, 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, it is not an unconditional high-yield account. You need to use Axos ONE Checking at the same time. 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 really better suited for people who are already willing to move their paycheck or day-to-day 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 cash, I do not think it is worth doing an extra set of Checking tasks just for that 0.01%. If you already plan to use Axos ONE anyway, then this rate is quite good. In addition, Axos has its own Insured Deposit Program, allowing large balances to receive up to $2.5M in additional FDIC coverage.

Newtek Bank: 4.20% APY

Newtek Bank’s Personal High Yield Savings currently offers 4.20% APY. It requires a minimum of $100 to open, has no monthly fee, and has no direct deposit, debit card transaction, or additional membership requirements. Newtek Bank N.A. itself is an FDIC Member Bank, so this is a very standard high-yield savings account.

Pibank Savings: 4.10% APY

Pibank Savings is currently offering 4.10% APY, with no monthly fees and no minimum balance requirement. Balances earn the current rate starting from $0.01, and the account is an FDIC-insured deposit. Structurally, it is similarly clean to Newtek: no payroll direct deposit required, and no monthly tasks to complete.

Live Oak Bank: 4.00% APY

Live Oak Bank’s Personal Savings is currently offering 4.00% APY, with no monthly maintenance fee and no minimum balance requirement. 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 that is reasonable for parking money long term.

The best thing about Live Oak right now is that it has a $300 account-opening bonus, which 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 an extra 0.1%-0.3%. If you are starting from zero and opening a high-yield account specifically for this purpose, the options listed above currently have more of an edge.

Bread Savings: 3.95% APY

Bread Savings’ High Yield Savings is currently offering 3.95% APY. It requires a $100 minimum opening deposit, has no hidden fees, and interest accrues and compounds daily. It is also an FDIC-insured deposit. The overall structure is similarly simple, with no payroll direct deposit, debit card, or membership tasks required. Bread’s ACH limits can be around $1M inbound / $100k outbound, making it 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 currently offering 3.80% APY, with a $500 minimum opening deposit and no monthly fee. Compared with some of 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 additional $250,000 of insurance.

If you care more about bank size and brand name, 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, which brings the total to 4.15% and makes it 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 the balance falls below $5,000, the current APY is only 0.25%. The account can be opened with a minimum of $100 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 top tier of high-yield savings accounts in the past, and it frequently runs temporary APY Boost offers. Existing customers have also been able to call in to activate extra interest. In addition, they occasionally offer account-opening bonuses, so you can wait until there is an opening bonus and stack it with the high rate. Right now, new accounts get 0.35% extra interest for six months, bringing the combined rate to 4.1%.

Robinhood Gold: 3.60% APY

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

For example, if you deposit $10,000, at 3.60% APY it would generate about $360 of interest in a year. After subtracting the $60 annual cost of the monthly membership fee, you are left with about $300. That is actually worse than simply putting the money into a free 4%+ HYSA. So I do not recommend subscribing to Gold solely 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. Uninvested cash in a brokerage account can be automatically swept to partner banks to earn interest, and the currently eligible base high-yield rate can be up to around 3.60% APY. However, it is a bit different from a regular HYSA. Not all existing accounts can unconditionally receive this rate forever: new users and accounts that meet specified deposit, transfer, or referral requirements may receive the higher rate tier, while accounts that do not qualify may have a very low rate. In practice, you should 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 earn interest and still be 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 also worth noting that Moomoo has solid account-opening bonuses, with up to 8.1% APY and $1,000+ in stock rewards. If you are interested in opening a new account, using Moomoo can be more worthwhile.

Webull Cash Management

Webull also offers Cash Management. Eligible uninvested cash can automatically earn 3.6% APY interest (Premium only), with up to several million dollars in FDIC Sweep coverage through partner banks. Webull Premium is currently $3.99/month or $40/year. The logic of this account is similar to Robinhood and Moomoo: if you already trade on Webull, leaving idle cash there to earn interest is very convenient; 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 a Premium membership fee specifically for Cash Management, since a free 4%+ HYSA would be simpler.

Their advantage, however, is that they often run account-opening promotions. Right now they are offering 12 fractional shares, and for the first 30 days you can get 5% APY on up to $10k in funds.

Other Ideas

Besides bank savings accounts and Cash Sweep, if the money is already in a brokerage account, I think you can also consider SGOV or directly buying short-term U.S. Treasury securities. SGOV is the iShares 0-3 Month Treasury Bond ETF, which mainly holds 0-3 month U.S. Treasury Bills. As of September 21, 2026, its 30-Day SEC Yield was 3.65%, and its expense ratio is only 0.09%. Its price fluctuations are usually also 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 discussed above is that it is not a bank deposit and does not have FDIC insurance. Instead, it is an ETF whose underlying holdings are mainly short-term U.S. Treasury securities. When you need the money, you also cannot withdraw it directly like from a bank; you need to sell the ETF during market hours, 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 very good fit.

Another approach is to buy Treasury Bills directly. The U.S. Treasury currently issues T-Bills with various maturities on a regular basis, 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 a very 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-tax state such as California or New York, even if the stated yield on Treasuries is slightly lower than an HYSA, the after-tax return may actually be higher. Most of SGOV’s income also comes from U.S. Treasuries, but exactly what percentage qualifies for state tax exemption each year needs to be calculated based on the data published by the fund company for that year. You cannot simply assume that 100% of all distributions are exempt from state tax.

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

Summary

In summary, if you can consistently complete Direct Deposit requirements, I would look at X Money 6% APY first. If you do not want to deal with any tasks at all, free 4%+ HYSAs such as Elevault, Newtek, and Pibank are the easiest options. If you already invest with Robinhood, Moomoo, or Webull, the Cash Sweep inside the brokerage is also perfectly usable, and there is no need to move money around frequently for a few tenths of a percent in interest rate difference. If the funds are already in a brokerage account and you will not need them to pay bills in the short term, you can also compare SGOV and T-Bills, especially if you live in a high-tax state.

Finally, a reminder: the APYs on these accounts are basically all 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 you really should move the money elsewhere. This article will also continue to be updated based on rate changes from each provider.

Personally, I actually do not really recommend simply leaving money in these accounts long-term just to earn interest. Money needs to move to make money. You can check out our series of articles below. Incorporating account-opening bonuses can greatly increase your effective return, and moving money around to achieve 10% APY in a 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.