Discover the potential earnings from today’s savings interest rates. With interest rates on savings accounts on the decline, it’s crucial to ensure that you secure the highest rate possible while searching for a suitable savings account. Below is an overview of current savings rates and the best offers available.
The national average savings account rate is currently 0.40%, as reported by the FDIC. While this figure may appear minimal, it’s worth remembering that it was only 0.06% three years ago.
Even though the national average savings interest rate is relatively low in comparison to other types of investments, there are numerous high-performing savings options available that offer much better rates. Indeed, some savings accounts are currently boasting interest rates of 4% APY or more.
As of October 12, 2025, the top savings account rate from our affiliates is 4.31% APY, available through Vio Bank. Below is a summary of some of the best savings rates currently offered by our vetted partners:
The interest you can accrue from a savings account is determined by the annual percentage yield (APY). This figure represents your total earnings after a year, accounting for both the base interest rate and the frequency of interest compounding (which typically occurs daily in savings accounts).
For example, if you place $1,000 in a savings account with an average interest rate of 0.40% and daily compounding, at the end of one year your total balance would rise to $1,004.01âthis combines your original $1,000 deposit with an interest earning of $4.01.
Now, if you opted for a high-yield savings account with 4% APY, your balance would hit $1,040.81 by year-end, inclusive of $40.81 in interest.
The more funds you deposit into your savings account, the greater your potential earnings. Continuing with our prior example at a 4% APY high-yield savings account, if you were to deposit $10,000, your balance at the end of the year would total $10,408.08, yielding $408.08 in interest.
Further reading: What constitutes a good savings account rate?
