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Find out how much you could earn at current savings rates. Interest rates on savings accounts have been falling, so it’s important to make sure you’re getting the best possible rate when you buy a savings account. Below is a breakdown of current savings interest rates and where to find the best deals.
The average national savings account rate it stands at 0.39%, according to the FDIC. That may not seem like much, but keep in mind that three years ago, it was just 0.06%.
Although the national average savings interest rate is quite low compared to other investments, the best savings rates in the market today are much higher. In fact, some of the top accounts currently offer 4% APY or more.
Today, the highest savings account rate available to our members is 4% APY. This rate is offered by SoFi,* Valley Bank Direct and Barclays.
Here’s a look at some of the best savings rates available today from our verified partners:
The amount of interest you can earn from a savings account depends on annual percentage rate (APY). This is a measure of your total earnings after one year if you take into account the base interest rate and how often the interest is compounded (savings account interest is usually compounded daily).
Let’s say you put $1,000 into a savings account at an average interest rate of 0.39% with daily compounding. At the end of one year, your balance would increase to $1,003.91: your initial deposit of $1,000, plus just $3.91 in interest.
Now suppose you choose a high yield savings account which offers 4% APY instead. In this case, your balance would increase to $1,040.81 over the same period, which includes $40.81 in interest.
The more you deposit in a savings account, the more you earn. If we took our same example of a high-yield savings account at 4% APY, but deposited $10,000, the total balance after one year would be $10,408.08, which means you would earn $408.08 in interest.
Read more: What is a good savings account rate?
*Earn up to 4.00% Annual Percentage Rate (APY) on SoFi Savings with a 0.70% APY increase (added to 3.30% APY effective 12/23/25) for up to 6 months. Open a new SoFi checking and savings account and sign up for SoFi Plus by 1/31/26. Variable rates, subject to change. Terms apply to sofi.com/banking#2. SoFi Bank, Member FDIC of NA.
