Find out if now is the right time to put your money into a savings account. In 2024, the Federal Reserve implemented a series of cuts in the federal funds rate, and these rates continued their downward trend throughout 2025. As a result, deposit interest rates have fallen from their all-time highs. Still, it’s possible to find high-yield savings accounts that pay over 4% APY. So if you’re looking for the best rates available today, here’s a breakdown of where to find them.

Although savings interest rates are high by historical standards, the national average rate on savings accounts is still just 0.39%, according to the FDIC. The good news: The best high-yield savings accounts they offer more than 10 times the national average.

As of January 30, 2026, the highest savings account rate available to our members 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 early open a savings account. Interest rates vary widely, but there are several banks (in particular, online banks) and credit cooperatives with very competitive offers.

Online banks operate exclusively through the web. This significantly reduces their overhead costs, so they can pass these savings on to customers in the form of high deposit rates and low fees. In fact, many of the best high-yield savings accounts also come with zero monthly fees or minimum opening deposit requirements. If you are looking for the best savings interest rates, Online banks are a good place to start.

That said, online banks aren’t the only place you can find savings accounts with rates ranging from 4% to 5% APY. Credit cooperatives are non-profit financial cooperatives and are also known for offering competitive rates and lower 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 insured by the FDIC (or NCUA in the case of credit unions), which means your deposits are protected up to $250,000 if your financial institution fails. They also cannot lose money due to market fluctuations.

However, a savings account is not always the right choice. While 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. For long-term savings goals, such as retirement, you should invest most of your savings in higher-risk (but higher-reward) market investments such as stocks, index funds, and mutual funds to reach your goal.

But if you’re saving for a short-term goal, like a down payment on a house, 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 needed; other types of high-yield deposit accounts, including money market accounts and certificates of deposit (CD) places more restrictions on how often you can make withdrawals.

*Earn up to 4% Annual Percentage Return (APY) on SoFi Savings with a 0.70% APY increase (on top of 3.30% APY effective 12/11/25) 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.