High-yield savings account rates are declining due to recent Federal Reserve rate cuts. These accounts offer as much as 4% APY. The average savings account rate is 0.40%, while the best rates are around 4% to 4.5% APY. SoFi offers the highest rate at 4.3% APY as of December 3, 2025.

Deposit account rates, including savings rates, are tied to the federal funds rate set by the Federal Reserve. After multiple rate cuts in 2024 and 2025, deposit rates are falling. Experts predict more rate cuts ahead, making high-yield savings accounts a safe option for earning the best deposit rates.

When considering where to put your money, high-yield savings accounts offer security and potential growth. They provide a secure place for shorter-term savings with interest rates around 4% to 4.5% APY. Savings accounts are insured by the FDIC up to the federal limit, making them a low-risk option for storing cash.

Read more at Yahoo Finance: Best high-yield savings interest rates today, December 3, 2025 (Earn up to 4.3% APY)