High-yield savings rates are above average, with EverBank offering the highest at 4.3% APY

From Yahoo Finance: 2025-06-02 06:00:00

Today’s savings account rates are above the national average due to the Federal Reserve cutting rates. High-yield savings accounts offer up to 4% APY, but rates vary by institution. Online banks typically offer better rates due to lower costs. EverBank currently offers the highest rate at 4.3% APY with no minimum deposit. Comparison shopping is crucial to secure the best deal, considering factors beyond just interest rates, such as minimum balance requirements, fees, customer service, and insurance coverage by the FDIC or NCUA.

Read more: Best high-yield savings interest rates today, June 2, 2025 (Earn up to 4.3% APY)