Find out if it’s a good time to put your money in a savings account. In 2024, the Federal Reserve implemented a series of reductions to the federal funds rate and these rates continued their downward trend throughout 2025. As a result, interest rates on deposits fell from their historical highs. However, it is possible to find high-yield savings accounts paying more than 4% APY. So if you’re looking for the best rates available today, here’s where to find them.
Although savings interest rates are high by historical standards, the national average savings account rate is still only 0.39%, according to the FDIC. The good news: Best High Yield Savings Accounts offer more than 10 times the national average.
As of January 30, 2026, the highest savings rate available from our partners is 4% APY. This rate is offered by SoFi*, Barclays and Valley Direct.
Here’s a look at some of the best savings rates available today from our verified partners:
Remember, it’s important to shop before open a savings account. Interest rates vary widely, but there are several banks (including online banks) and credit unions with very competitive offers.
Online banks operate exclusively via the web. This significantly reduces their overhead costs, allowing them to pass these savings on to their customers in the form of high deposit rates and low fees. In fact, many of the best high-yield savings accounts also come with no monthly fees or minimum opening deposit requirements. If you are looking for the best interest rates for savings, online banks are a great place to start.
That said, online banks aren’t the only place you can find savings accounts with rates between 4% and 5% APY. Credit unions are non-profit financial cooperatives and are also known for offering competitive rates and low fees. Many credit unions have certain requirements that must be met to become a member, although some allow almost anyone to join.
Savings accounts are one of the safest places to put your money. They are FDIC (or NCUA in the case of credit unions) insured, which means your deposits are protected up to $250,000 in the event your financial institution fails. They also cannot lose money due to market fluctuations.
However, a savings account is not always the right choice. Even though today’s savings interest rates are high by historical standards, they still don’t offer the same returns you could get by investing your money in the market. To achieve your long-term savings goals such as retirement, you should invest a large portion of your savings in higher risk (but higher return) market investments such as stocks, index funds and mutual funds to achieve your goal.
But if you’re saving for a short-term goal, like a down payment on a house, a vacation, or even a emergency funda high-yield savings account is one of the best options. This is especially true if you want to access your money as you need it; other types of high-yield deposit accounts, including money market accounts and certificates of deposit (CD) place more restrictions on how often you can make withdrawals.
*Earn up to 4% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY boost (added to 3.30% APY starting 11/12/25) for up to 6 months. Open a new SoFi Checking & Savings account and sign up for SoFi Plus by 1/31/26. Variable rates, subject to change. Conditions apply to sofi.com/banking#2. SoFi Bank, Member NA, FDIC.
