Best high-yield savings interest rates today, May 13, 2025 (Earn up to 4.30% APY)

The Federal Reserve reduced the target interest rate three times in 2024. As a result, high savings account rates decreased. However, some of the best accounts are still paying above 4 % APY. In order to get the highest possible interest rate in your savings, it is important to make your search and find competitive offers. I am not sure where to start? Here is a closer look at the interest rates of savings today and where you can find the best interest rates.

The average interest rate at the traditional savings account is only 0.41 %, according to FDIC. However, the best savings rates can be found on high yields, which often pays much more.

As of May 13, 2025, the highest savings account rate available from our partners is 4.30 % APY. This rate is presented by Everbank and there is no minimum opening deposit.

Below is a look at some of the best savings rates today from our verified partners:

Over the past decade, interest rates have fluctuated in the savings account slightly. From 2010 to about 2015, the prices were rocky, hovering about 0.06 % to 0.10 %. This was largely due to the 2008 financial crisis and the federal reserve decision to reduce its target price to zero near zero in order to stimulate economic growth.

From 2015 to 2018, interest rates gradually began to increase. However, it remained low in historical standards. Then the appearance of the Covid-19 in 2020 led to another sharp decrease in the rates as the federal reserve again reduced the rates to stimulate the economy. This average interest rates reached the low prices to its lowest levels, about 0.05 % to 0.06 % by mid -2011.

Since then, savings account rates have been largely listed, largely driven by raising the interest rate at the Federal Reserve in response to high inflation. However, the Federal Reserve recently reduced the rate of federal funds in September, November and 2024, and as a result, deposit prices began to decline as well.

Below is a look at how to change interest rates in savings over the past decade:

Although interest rates have increased significantly since 2021, the average savings account rate is still somewhat low, especially compared to market investments. If you save a long -term goal like teaching a child or retirement, it is possible that the savings account is not possible for the returns needed to reach your goal.

On the other hand, if you save the emergency box, the home front, or the leave or any other goal in the short term, the high-return savings account is perfect-especially if you want to reach the money as needed. Other types of deposit accounts, including financial markets and CDs, may offer similar or better rates, but restricting the number of times you can do. The key is shopping and finding an account that provides a competitive price with low or without fees.