From Yahoo Finance: 2025-04-14 06:00:00

The Federal Reserve has cut the federal funds rate three times in 2024, resulting in declining deposit account rates. High-yield savings accounts offer as much as 4% APY, with rates varying across financial institutions. The highest savings rate available as of April 14, 2025, is 4.50% APY from Poppy Bank. Online banks generally offer the best rates due to lower overhead costs. It’s crucial to compare rates and features before opening an account. Traditional savings accounts and CDs have seen a rise in interest rates, but the national average remains low. Savers may want to take advantage of high rates before the Fed lowers its target rate again in 2025. When choosing a savings account, consider factors like minimum balance requirements, customer service, digital tools, and FDIC or NCUA insurance. Research thoroughly to find the best deal for your financial needs.

Read more: Best high-yield savings interest rates today, April 14, 2025 (Top rate at 4.50% APY)