What is the highest interest rate on a savings account?

Today’s highest savings account interest rate is 5.84%. High-yield savings rates follow a similar trend for other deposit accounts, including money market and certificate of deposit accounts. Among high-yield saving account offerings, online banks tend to feature the best rates for savers. Data accurate as of February 1, 2024.

What is the average interest rate for a savings account?

The average national rate for savings accounts is 0.47%, but a high-yield savings account earns up to 10 times that rate or more. Interest rates are at a 22-year high — take advantage with a top savings account.

What is the best high-yield savings account rate?

Learn more. The best high-yield savings account rate from a nationally available institution is 5.50% APY, available from Milli and Poppy Bank. That's nearly 12 times the FDIC's national average for savings accounts of 0.47% APY and is just one of 15 or more top rates you can find in our rankings.

What's the difference between a high-yield savings account and a checking account?

The difference in savings account interest rates can be dramatic, with the top accounts in the country typically offering 10 to 12 times the national average rate. And you can still keep your checking account where it is because it's simple to link a high-yield savings account to your primary account for easy transfers.