The best high -performance savings interest rates today, May 13, 2025 (win up to 4.30% APY)

The Federal Reserve reduced the target rate three times by 2024. As a result, high -performance savings account rates have fallen. That said, some of the best accounts still pay above 4% APY. To get the highest possible interest rate in your savings, it is important to do your research and find competitive offers. You are not sure where to start? Here is a more thorough look at savings interest rates today and where you can find the best.

The average interest rate of a Traditional savings account It is only 0.41%, according to the FDIC. However, the best savings rates can be found instead of high performance, which often pay much more.

From May 13, 2025, the highest available savings account rate for our partners is 4.30% APY. Everbank offers this rate and no minimum opening deposit is required.

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

During the last decade, savings account interest rates have fluctuated quite a bit. From 2010 to around 2015, the rates were rock bottom, passing around 0.06% to 0.10%. This was largely due to the 2008 financial crisis and at Federal reservationThe decision to lower its target rate near zero in order to promote economic growth.

From 2015 to 2018, interest rates began to increase gradually. However, they remained low according to historical standards. The appearance of Covid-19 Pandemic in 2020 caused another decrease in rates, as the Fed reducing rates to stimulate the economy. This reduced average savings interest to new lows, around 0.05% to 0.06% in mid -2011.

Since then, savings account rates have been recovered considerably, largely driven by the FED Interest rate hikes In response to inflation that decreases. However, the Fed finally decreased the federal fund rate in September, November and December 2024, and thus the deposit rates began to fall as well.

The following is how the savings interest rates have changed over the last decade:

Although interest rates have increased substantially since 2021, the average savings account rate is still quite low, especially compared to market investments. If you save a long -term goal, such as the education or retirement of a child, probably a savings account will not generate the necessary returns to achieve your goal.

On the other hand, if you save an emergency fund, an initial payment, vacation or other short -term target high -performance savings account It is ideal, especially if you want to access the funds as needed. Other types of deposit accounts, including Money and CD marketsIt can offer similar or even better rates, but restrict the frequency with which they can be removed. The key is to buy and find an account that provides a competitive rate with low rates or not.