The best high-yield savings accounts currently earn APYs around 4.00%, over seven times higher than the national average.

Current inflation sits at 2.4%, so top savings rates are beating inflation by over 1.6 percentage points.

The federal funds rate remains at 3.50-3.75%, which mean high-yield savings rates are trending down.

A high-yield savings account earning over 4% APY is an excellent place to grow your money safely — while also offering easy access to funds. The best rates currently range from around 4% up to 4.20% APY at top online banks and credit unions.

These rates are significantly higher than traditional savings accounts, which typically earn just 0.01% to 0.10% APY at major brick-and-mortar banks. When your money earns a rate that outpaces inflation, your purchasing power actually grows over time.

Today’s best high-yield savings accounts are earning APYs of around 4.20%, with some accounts still offering rates near 5 percent. This compares to a national average of just 0.59 percent APY, according to Bankrate data.

“We’re in a unique environment where savings rates are still outpacing inflation. The Federal Reserve has kept rates elevated through 2025, but with economic uncertainty, savers should take advantage of these historically high rates while they’re available.”

— Greg McBride, CFA, Bankrate Chief Financial Analyst

Here’s what various amounts would earn in one year at a 4.25% APY:

$1,000: $42.50

$5,000: $212.50

$10,000: $425

$25,000: $1,062.50

$50,000: $2,125

You can typically find the highest APYs at the following institutions:

Online banks: Most competitive rates due to lower overhead costs

Credit unions: Often offer rates comparable to online banks with additional member benefits

Digital-first institutions: Newer fintech companies frequently offer promotional rates

Ready to maximize your savings? See Bankrate’s complete list of the best online banks and credit unions with current rates, minimum balance requirements, and key features.

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Money market accounts vs. high-yield savings accounts

Money market accounts typically offer similar rates to high-yield savings but with added features like check-writing privileges and debit card access. However, they often require higher minimum balances.

Learn more about money market vs. savings accounts.

CDs vs. high-yield savings accounts

While savings account rates are variable, CDs lock in your rate for a specific term. Current CD rates range up to 4.50% APY depending on term length. Consider a CD if you won’t need access to your money and want guaranteed returns.

Compare today’s best CD rates.

The current rate environment offers an exceptional opportunity to grow your savings safely. While rates may not stay this high indefinitely, today’s savers can take advantage of returns that both preserve and grow purchasing power.

Ready to start earning more on your savings? Check out our guide to picking the right savings account for you.