Interest rates on savings accounts are dropping, so it’s crucial to find the best rate. The national average is 0.39%, up from 0.06% three years ago. However, top accounts offer 4% APY or higher, with SoFi, Valley Bank Direct, and Barclays leading with 4% APY. Your earnings depend on the APY and compounding frequency.

For example, if you deposit $1,000 in a savings account with 0.39% interest, you’d earn $3.91 in a year. But with a high-yield account at 4% APY, you’d earn $40.81. The more you deposit, the more you earn; with $10,000, you could earn $408.08 in one year.

To maximize your savings, consider high-yield accounts offering 4% APY. SoFi Savings offers up to 4.00% APY with a 0.70% APY Boost for 6 months. Rates are variable and can change. Learn more at sofi.com/banking#2.

Read more at Yahoo Finance: Best high-yield savings interest rates today, January 24, 2026 (Earn up to 4% APY)