High-yield savings account rates have been declining since the Federal Reserve cut the federal funds rate three times in 2025. High-yield savings accounts offer as much as 4% APY, compared to the average savings account rate of 0.39%. SoFi, Barclays, and Valley Direct currently offer the highest savings account rates at 4% APY. Deposit rates are tied to the federal funds rate, which has been falling, leading to lower deposit rates. Expect savings account rates to continue falling with potential future rate cuts. High-yield savings accounts are a safe way to earn the best deposit rates available. When choosing where to save money, consider factors like interest rates, goals, accessibility, and security. Savings accounts are FDIC insured and offer low-risk options for storing cash. You can earn up to 4% APY on SoFi Savings with certain conditions.

Read more at Yahoo Finance: Best high-yield savings interest rates today, January 21, 2026 (Earn up to 4% APY)