High-yield savings account rates have dropped, but some of the best accounts still pay upwards of 4% APY. In order to get the highest possible interest on your savings, it’s important to do your research and find competitive offers. Not sure where to start? Here’s a closer look at savings interest rates today and where you can find the best.
The average interest rate on a traditional savings account is just 0.39%, according to the FDIC. However, the best savings rates can be found in high-yield accounts, which often pay more.
As of March 3, 2026, the highest savings account rate offered by our partners is 4% APY. This rate is offered by SoFi* and Valley Bank Direct.
Here’s a look at some of today’s best savings rates from our verified partners:
Over the past decade, savings account interest rates have changed somewhat. From 2010 to 2015, rates were lower than the bottom, hovering around 0.06% to 0.10%. This was largely due to the 2008 financial crisis and the Federal Reserve’s decision to move its target rate closer to zero to stimulate economic growth.
From 2015 to 2018, interest rates began to rise gradually. However, they remain low by historical standards. Then the onset of the COVID-19 pandemic in 2020 led to another sharp drop in rates as the Fed once again cut rates to stimulate the economy. This lowers the average savings interest rate to new lows, around 0.05% to 0.06% in mid-2021.
Since then, savings account rates have rebounded significantly, largely in response to skyrocketing inflation due to the Fed’s interest rate hikes. However, the Fed eventually cut the federal funds rate at the end of 2024 and through 2025. As a result, stock prices have steadily declined.
Here’s a look at how savings interest rates have changed over the past decade:
Despite the fact that interest rates have risen significantly since 2021, the average savings account rate is still very low, especially compared to market capitalization. If you’re saving for a long-term goal, such as a child’s education or retirement, a savings account may provide the returns you need to reach your goal.
On the other hand, if you’re saving for an emergency fund, a down payment, a vacation, or another short-term goal, a high-yield savings account is ideal — especially if you want access to funds as needed. Other types of deposit accounts, including money markets and CDs, may offer similar or even better rates, but limit how often you can withdraw. The key is to shop around and find an account that provides competitive pricing with low or no fees.
* Earn up to 4.00% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY boost for up to 6 months (added to 3.30% APY as of 12/23/25). Open a new SoFi Checking and Savings account and enroll in SoFi Plus by 1/31/26. Prices are variable, subject to change. Terms apply sofi.com/banking#2. SoFi Bank, NA Member FDIC.
