Best Savings Accounts for Large Balances 2026
When you have $100K, $500K, or more in savings, FDIC limits matter. Here are accounts built for serious money.
⚠️ The FDIC Problem
Standard FDIC insurance covers only $250,000 per depositor, per bank. If you have $500K at one bank and it fails, you could lose $250K. Large balances require a different strategy.
FDIC Coverage Comparison
Our Recommendations by Balance
💰 $100K - $250K: Standard accounts work fine
With under $250K, any single FDIC-insured bank fully covers you. Prioritize rate over coverage.
💰💰 $250K - $500K: Split between banks OR use cash management
You exceed single-bank FDIC limits. Either split manually or use accounts with extended coverage.
💰💰💰 $500K - $2M: Extended FDIC becomes essential
Managing 3-8 separate bank accounts is tedious. Cash management accounts simplify everything.
💰💰💰💰 $2M+: Wealthfront is the only option
Only Wealthfront offers coverage this high. The lower rate is the price of insurance.
- ✓ Instant withdrawals up to $250K/day
- ✓ Debit card for spending access
- ✓ No fees or minimums
- ✓ Integrates with Wealthfront investing
How Extended FDIC Coverage Works
Wealthfront and Betterment aren't banks—they're brokerage platforms that sweep your cash across multiple partner banks. Each partner bank provides $250K of FDIC coverage.
Example with Wealthfront ($8M coverage):
- Your $2M deposit is split across 8+ banks
- Each bank holds ~$245K (leaving buffer for interest)
- Each portion is separately FDIC-insured
- You see one account; insurance is handled automatically
The Rate Trade-Off
Extended FDIC accounts typically pay lower rates than the best traditional HYSAs:
Annual Interest on $1 Million
Is $8,500-$13,500/year worth full FDIC coverage? For most large-balance savers, yes—that's cheap insurance against a bank failure that could cost $750K.
Alternative: The Manual Split Strategy
You can manually spread money across multiple banks for full coverage and higher rates:
- $250K at Pibank (4.60%)
- $250K at Barclays (4.00%)
- $250K at Ally (3.70%)
- $250K at Marcus (3.65%)
Result: $1M fully insured at ~4.00% blended rate
Downsides:
- Managing 4+ accounts is tedious
- Transfers between accounts take days
- Rebalancing as rates change requires effort
- Tax reporting across multiple 1099-INTs
For some, the extra $5,000-$7,500/year is worth the hassle. For others, Betterment or Wealthfront's simplicity wins.
Beyond FDIC: Treasury Bills
For truly large balances, Treasury bills offer unlimited government backing:
- Current rate: ~4.25% for 4-week T-bills
- Insurance: Backed by U.S. government (effectively unlimited)
- Tax advantage: State tax-free
- Downside: Less liquid, requires ladder management
A T-bill ladder can complement your savings account strategy for balances exceeding even Wealthfront's $8M limit.
The Bottom Line
Match your strategy to your balance:
- Under $250K: Any top HYSA (Pibank, Barclays, Ally)
- $250K-$2M: Betterment Cash Reserve (3.75% + $2M coverage)
- $2M-$8M: Wealthfront Cash (3.25% + $8M coverage)
- $8M+: Wealthfront + T-bill ladder + multiple accounts
Don't leave large sums uninsured. The peace of mind is worth the rate trade-off.