Interest rates on savings accounts have been decreasing, making it crucial to find the best rate available. The national average savings rate is currently 0.39%, but some accounts offer rates as high as 4% APY. Partner banks like SoFi, Valley Bank Direct, and Barclays are offering this competitive rate as of January 4, 2026.
The Annual Percentage Yield (APY) determines how much interest you earn in a savings account. For example, with a $1,000 deposit at 0.39% interest, you would earn $3.91 in a year. However, with a high-yield account at 4% APY, you could earn $40.81 on the same deposit.
The more you deposit, the more you earn in interest. With a $10,000 deposit in a high-yield account at 4% APY, you could earn $408.08 in a year. It’s essential to compare rates and choose the account that offers the highest APY to maximize your savings.
Read more at Yahoo Finance: Best high-yield savings interest rates today, January 11, 2026 (Earn up to 4% APY)