Today, savings account rates remain above the national average, despite three cuts to the federal funds rate in 2025. To ensure you’re earning the highest rate possible, consider opening a high-yield savings account with rates as high as 4% APY offered by SoFi, Valley Bank Direct, and Barclays.

High-yield savings accounts generally offer better interest rates than traditional accounts, with rates varying across financial institutions. Online banks typically offer higher rates due to lower overhead costs. It’s crucial to shop around and compare rates before opening an account to secure the best deal available.

As of January 12, 2026, the highest savings account rate available from partners is 4% APY, offered by SoFi, Valley Bank Direct, and Barclays. The majority of top savings rates come from online banks, passing on savings to customers through higher rates and lower fees.

Despite Federal Reserve rate cuts, traditional savings accounts and CDs offer some of the highest rates in over a decade. However, the national average for these rates is low compared to top offers available. It’s recommended to take advantage of high rates now before further rate cuts.

Comparing accounts and rates from various financial institutions is crucial to secure the best deal. Consider factors beyond interest rates, such as minimum balance requirements, customer service, ATM access, digital tools, and financial stability. Ensure your account is insured by the FDIC or NCUA for protection.

Earn up to 4.00% APY on SoFi Savings with a 0.70% APY boost for up to 6 months by opening a new SoFi Checking & Savings account and enrolling in SoFi Plus by 1/31/26. Rates are variable and subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.

Read more at Yahoo Finance: Best high-yield savings interest rates today, January 12, 2026 (Earn up to 4% APY)