Rates on savings accounts are rising. You can now earn 5.84% or higher on your savings. Searching for an account where you can save for a rainy day or reach your financial goals has never been more rewarding. High-interest savings accounts are becoming increasingly popular as people seek to maximize their savings potential in a time of economic uncertainty.
Looking for the best savings interest rates available today? Here's a look at where to find the highest rates and whether now is a good time to open a high-interest savings account. With the current economic landscape, it's crucial to make your money work for you, and high-interest savings accounts offer a great opportunity to do just that.
SoFi's savings account rate is 4.60% annual percentage yield (APY) if you meet deposit requirements, and the bank offers a sign-up bonus to sweeten the deal. Get today's best rates on high-yield and traditional savings accounts to quickly grow your everyday nest egg. SoFi is just one of many financial institutions offering competitive interest rates to help you make the most of your savings.
With interest rates at a 22-year high, you may have heard that it's a good idea to open a high-yield savings or money market account (MMA). These accounts offer higher interest rates than traditional savings accounts, allowing you to earn more on your money over time. If you're looking for the best rate for your savings, high-yield savings accounts typically offer yields that pay many times the national average.
While inflation and elevated interest rates raised to tame it have hurt borrowers over the last two years, they've been a major boost for savers. High-interest savings accounts occupy a happy medium where your money earns interest, but it's still easily accessible if needed. The best savings accounts not only offer high interest rates but also come with added benefits like no monthly fees and FDIC insurance.
We rounded up the top 13 high-yield savings accounts that offer the best APY, zero monthly fees, and are federally insured. These accounts provide a safe and secure way to grow your savings while earning competitive interest rates. Whether you're saving for a specific goal or simply looking to build your financial cushion, a high-interest savings account can help you reach your objectives faster.
