Today’s savings account rates are still above the national average, but with the Federal Reserve cutting rates, deposit account rates are declining. High-yield savings accounts offer up to 4% APY. Online banks usually offer the best rates, with SoFi, Valley Bank Direct, and Barclays offering 4% APY as of January 26, 2026.

Traditional savings accounts and CDs have high rates, with the average savings account rate at 0.39% and 1-year CDs at 1.61%. The Fed is expected to lower rates further, making now a good time to secure high rates. Comparing rates and account features is essential when choosing a savings account.

When choosing a savings account, consider factors like minimum balance requirements, customer service, access, and financial stability. Ensure the account is insured by the FDIC or NCUA for protection. SoFi offers up to 4.00% APY with certain conditions. Shop around for the best deal.

Read more at Yahoo Finance: Best high-yield savings interest rates today, January 26, 2026 (Earn up to 4% APY)