High-yield savings account rates are dropping, but some accounts still offer over 4% APY. Research is key to finding the best rates. The average interest rate on a traditional savings account is only 0.39%. As of January 20, 2026, SoFi, Valley Bank Direct, and Barclays offer the highest rate at 4% APY.

Savings interest rates have fluctuated from 2010 to 2021, hitting rock-bottom after the 2008 financial crisis and dropping further due to the COVID-19 pandemic. Despite a rise since 2021, savings rates remain low. High-yield savings accounts are ideal for short-term goals, but may not be sufficient for long-term objectives.

To maximize savings, consider high-yield accounts offering up to 4% APY. Other deposit options like money markets and CDs may offer competitive rates but limit withdrawals. Compare offers to find an account with low or no fees. SoFi, Valley Bank Direct, and Barclays currently offer the highest rates.

Read more at Yahoo Finance: Best high-yield savings interest rates today, January 20, 2026 (Earn up to 4% APY)