Currently, thebest high-yield savings accountrates have APYs over 4%.
Here’s more on the best savings rates and the banks that offer them.
key in your information below to get CNET’s partners' best rate for your area.
How does the Fed’s decision affect savings rates?
The best savings rates were well over 5% APY a year ago.
Banks mostly followed the Fed’s lead, cutting APYs on savings accounts.
We still don’t recommend waiting because banks could decide to lower savings rates further.
Experts say that a high-yield savings account should still be a part of your money strategy this year.
In addition to earning interest, the accounts offer flexibility to deposit and withdraw money when you need it.
“It is always worth it to earn a little extra on your already saved money.”
it’s possible for you to earn up to 4.65% APY on the best CDs.
Check outtoday’s rates.
Here are some other factors to consider when opening a HYSA.
Each account received a score between one (lowest) and five (highest).
None of the banks on our list charge monthly maintenance fees.
Accounts that impose restrictive residency requirements or fees for exceeding monthly transaction limits may also be rated lower.
*APYs as of Jan. 31, 2025, based on the banks we track at CNET.
Weekly percentage increase/decrease from Jan. 20 to Jan. 27, 2025.
**Varo offers 5% APY only on balances of less than $5,000.
