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Find out how much you could earn with today\u2019s savings rates. Interest rates on savings accounts have been falling, so it\u2019s important to be sure you\u2019re getting the best rate possible when shopping around for a savings account. The following is a breakdown of savings interest rates today and where to find the best offers.<\/p>\n
The national average savings account rate<\/a> stands at 0.39%, according to the FDIC. This might not seem like much, but consider that three years ago, it was just 0.06%.<\/p>\n Although the national average savings interest rate is fairly low compared to other investments, the best savings rates on the market today are much higher. In fact, some of the top accounts are currently offering 4% APY and up.<\/p>\n Today, the highest savings account rate available from our partners is 4% APY. This rate is offered by SoFi* and Valley Bank Direct.<\/p>\n Here is a look at some of the best savings rates available today from our verified partners:<\/p>\n The amount of interest you can earn from a savings account depends on the annual percentage rate<\/a> (APY). This is a measure of your total earnings after one year when considering the base interest rate and how often interest compounds (savings account interest typically compounds daily).<\/p>\n Say you put $1,000 in a savings account at the average interest rate of 0.39% with daily compounding. At the end of one year, your balance would grow to $1,003.91 \u2014 your initial $1,000 deposit, plus just $3.91 in interest.<\/p>\n Now let\u2019s say you choose a high-yield savings account<\/a> that offers 4% APY instead. In this case, your balance would grow to $1,040.81 over the same period, which includes $40.81 in interest.<\/p>\n The more you deposit in a savings account, the more you stand to earn. If we took our same example of a high-yield savings account at 4% APY, but deposit $10,000, your total balance after one year would be $10,408.08, meaning you\u2019d earn $408.08 in interest. \u200b\u200b<\/p>\n Read more: <\/em>What is a good savings account rate?<\/em><\/a><\/p>\n *Earn up to 4.00% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.30% APY as of 3\/31\/26) for up to 6 months. Open a new SoFi Checking & Savings account and enroll in SoFi Plus by 12\/31\/26. Rates variable, subject to change. Terms apply at <\/em>sofi.com\/banking#2<\/em><\/a>. SoFi Bank, N.A. Member FDIC.<\/em><\/p>\n<\/p><\/div>\n