Top Joint High-Yield Savings Accounts

High-yield savings accounts (HYSAs) work just like regular savings accounts. So, what’s the difference?

HYSAs have much higher interest rates than a typical savings account, and you can usually find these high-yield options with online banks.

Are there HYSA joint accounts?

Of course! You might have slightly fewer options than individual HYSAs, but plenty of high-yielding accounts accept joint owners.

Joint accounts offer equal access and rights to the account’s funds. Since each owner has equal access to the account, joint accounts are very popular with couples, married and unmarried alike. Joint accounts are also great for parents and their children, caregivers and the cared-for, or even roommates who pool funds for bills.

Compare 8 joint high-yield savings accounts

All these joint savings accounts are FDIC or NCUA insured. Each has competitive interest rates, easily beating out the national average for savings accounts, which is currently 0.39%.⁽¹⁾

• SoFi® terms and conditions

  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. 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 12/7/2023 and will be available through 12/31/2026. Full terms at sofi.com/banking. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.
  
  SoFi members with Eligible Direct Deposit can earn 3.30% annual percentage yield (APY) on savings balances (including Vaults)and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 3.30% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 12/23/25. There is no minimum balance requirement. Fees may reduce earnings. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.
  
  Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 12/23/25. 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 4.00% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.30% APY as of 12/23/25) for up to 6 months. Open a new SoFi Checking and Savings account and pay the $10 SoFi Plus subscription every 30 days OR receive eligible direct deposits OR qualifying deposits of $5,000 every 31 days by 3/30/2026. Rates variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.

How to open a joint savings account

Opening a joint savings account is pretty much the same process as opening an individual savings account. Both potential owners need to supply personal information to apply, such as:

• Legal names
• Addresses and email addresses
• Phone number
• Social Security numbers or ITINs

Most online bank account applications take under 10 minutes to complete, and you’ll usually hear back within one to five business days. Some online accounts can provide approval decisions minutes after applying.

If you’re approved, you’ll need to fund the account and meet opening deposit requirements (if any), and then you can start saving!

How joint ownership works

Joint ownership means both people listed on the account have equal access to the money. Both owners can deposit, withdraw or transfer funds without the other’s permission.

While convenient for managing shared expenses, it also means full trust is essential, since either person can clean out the joint account at any time.

How does deposit insurance work with joint accounts?

Each co-owner gets up to $250,000 in deposit insurance, so joint accounts are insured up to $500,000 total.

If you need more than $500,000 in deposit insurance on your joint account, compare banks with high FDIC insurance coverage that can offer insurance in the millions.

Bottom line

Joint high-yield savings accounts can be great for building a savings fund, being on the same page with your spouse, saving together for a kiddo’s future expenses or pooling funds together for bills.

No matter your reason for a joint savings account, there are plenty of high-yield options with low fees, high rates and flexibility.

Compare more of the best savings accounts in the market.

Frequently asked questions

Does Chime® allow joint accounts?

No. At the time of writing, Chime doesn’t allow joint account owners on its savings or checking accounts.

Does Varo have joint accounts?

No. Varo doesn’t allow joint account holders.

Does Netspend Savings support joint accounts?

No. To open the Netspend Savings account, you need the Netspend Debit Account, and that account doesn’t support joint ownership.

Will both joint owners earn interest on the balance?

A joint account earns interest on the total balance, regardless of who deposits the money.

Do I need an SSN to apply for a joint bank account?

If you don’t have an SSN, several banks accept ITINs or alternative IDs instead.

To make sure you get accurate and helpful information, this guide has been edited by Holly Jennings as part of our fact-checking process.

Written by

Bethany Hickey

Banking editor

Bethany Hickey is the banking editor and personal finance expert at Finder, specializing in banking, lending, insurance, and crypto. Bethany’s expertise in personal finance has garnered recognition from esteemed media outlets, such as Nasdaq, MSN, Yahoo Finance, GOBankingRates, SuperMoney, AOL and Newsweek. Her articles offer practical financial strategies to Americans, empowering them to make decisions that meet their financial goals. Her past work includes articles on generational spending and saving habits, lending, budgeting and managing debt. Before joining Finder, she was a content manager where she wrote hundreds of articles and news pieces on auto financing and credit repair for CarsDirect, Auto Credit Express and The Car Connection, among others. Bethany holds a BA in English from the University of Michigan-Flint, and was poetry editor for the university’s Qua Literary and Fine Arts Magazine. See full bio

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