Looking to boost your savings? High-yield savings accounts offer competitive interest rates, with some still at 4% APY. Online banks like SoFi, Barclays, and Valley Direct provide the best rates. But remember, interest rates are not the only factor to consider when choosing a savings account.

Savings account rates have been decreasing since 2024 due to the Federal Reserve’s federal funds rate cuts. While rates were once high, they have dropped recently. It’s uncertain how rates will change in the future, but now is a good time to take advantage of the best savings rates available.

To open a savings account, research interest rates, consider your must-haves, prepare documentation, fill out the application, and fund your account. The process is simple and can usually be done online. Don’t miss out on the opportunity to grow your savings with high interest rates.

Read more at Yahoo Finance: Best high-yield savings interest rates today, January 29, 2026 (top account pays 4% APY)