High-yield savings account rates are dropping, but some still offer over 4% APY. Research is crucial to find the best rates. The average traditional savings account rate is only 0.39%, while the highest rate available is 4.3% APY from SoFi as of December 23, 2025.

Savings interest rates have fluctuated over the past decade, hitting lows of 0.06% to 0.10% in the early 2010s. Rates began to rise from 2015 to 2018, only to drop again due to the COVID-19 pandemic in 2020. Recent rate cuts by the Fed are now leading to declining deposit rates.

Despite recent rate hikes, the average savings account rate remains low compared to market investments. For short-term goals, high-yield savings accounts are ideal for easy access to funds. Shopping around for accounts with competitive rates and low fees is key to maximizing savings.

Read more at Yahoo Finance: Best high-yield savings interest rates today, December 23, 2025 (Earn up to 4.3% APY)