Now is a good time to consider a savings account as the Federal Reserve cut interest rates, causing deposit rates to drop. Despite this, high-yield accounts are still available with rates above 4% APY, far higher than the national average of 0.4%. SoFi offers the highest rate at 4.3% APY as of November 28, 2025.

For the best savings rates, it’s essential to shop around. Online banks typically offer high rates due to lower overhead costs. Credit unions also provide competitive rates and fewer fees, with some having easy membership requirements. Savings accounts are safe and insured by the FDIC or NCUA up to $250,000.

While savings accounts are secure, they may not offer the same returns as market investments for long-term goals like retirement. However, for short-term goals or emergencies, high-yield savings accounts are a great option with easy access to funds. Online banks and credit unions offer rates between 4% and 5% APY, providing competitive options for savers.

Read more at Yahoo Finance: Best high-yield savings interest rates today, November 28, 2025 (up to 4.3% APY return)