Key takeaways ; The top high-yield savings accounts are currently earning APYs of 5 percent and greater. ; By comparison, the national average savings account APY is just 0.59 percent. ; You'll often find the most competitive APYs at online-only banks, which tend to pay higher rates than brick-and-mortar banks.
Learn how to find the average savings account interest rate, how that differs from the highest rates and what factors impact your balance earnings.
With interest rates at record lows, savings account interest is low, too. The right account at the right bank can help you maximize your savings.
But what is a good interest rate on a savings account? And how can you get one? In 2024, you'll typically find the best savings interest rate offered by what's known as a high-yield savings...
over the long term. What makes all of these options so... a checking account, a savings account, or a money market account, put your money where you can get the highest interest rate.”
Interest on a savings account can help your money grow more quickly. Learn how interest works on savings accounts and the effect of compounding.
A high-yield savings account is a savings account that can pay up to 15 times the national average of a standard savings account. Compare accounts to find the one that's right for you.
CDs offer significantly higher interest rates than traditional savings accounts. Here's how much you could be earning.
If you're looking for the best rate for your savings, high-yield savings accounts typically offer yields that pay many times the national average.
High-yield savings account rates are increasing. When the Fed raises the federal funds rate, interest rates on savings accounts also usually rise.