Learn how to find the average savings account interest rate, how that differs from the highest rates and what factors impact your balance earnings.
If you’re on the hunt for today’s best savings interest rates, we’ve narrowed down some of the top offers. Learn more about savings interest rates today and how to open an account.
By comparison, interest rates for some high-yield savings accounts exceed 4.50%. Vanessa Potter, assistant vice president and branch manager at Addition Financial Credit Union, pegs the...
Discover current average interest rates on savings accounts, and current rates for different types of savings accounts at banks and credit unions.
Savings interest rates have remained high in 2024, but they could begin declining soon.
Savings interest rates are the highest they’ve been in over a decade. Here’s where you can find the best savings interest rates today.
Key Takeaways ; According to recent Bankrate data, the average interest rate for savings accounts is 0.57% . That means if you deposit $20,000 into a standard savings account that earns the average APY, you will earn $114 in interest over the course of a year. You can find a savings account to maximize your interest by weighing multiple factors, like switching to a new bank, combining your savings and checking accounts, considering online banks or credit union accounts, and keeping an eye out fo...
Compare today’s best high-yield savings account rates with our ranking of over 100 national banks and credit unions. Today's top savings rate is 5.50% from Pibank.
Vault’s Viewpoint on 6% APY Savings Accounts ; Digital Federal Credit Union earns 6% interest on its savings account, but this account has deposit limits and balance requirements. ; With a 6% APY on your savings, you could earn $60 a year on a $1,000 deposit. ; If you aren’t eligible for a 6% interest savings account, other options yield nearly as much, such as select CDs and other high-yield savings accounts. ; Not everyone qualifies for these accounts, and sets of narrow criteria can affect your eligibility.
Savings interest rates peaked in 2023—but will that be true in 2024? Explore our 2024 interest rate forecast guide to see if this trend will continue.