Interest rates on savings accounts are dropping, so finding the best rate is crucial. The national average savings rate is 0.39%, up from 0.06% three years ago. Some accounts offer 4% APY. The highest rate today is 4% APY from SoFi.*
APY determines your earnings in a savings account. At 0.39% interest, $1,000 grows to $1,003.91 in a year. With 4% APY, the same $1,000 becomes $1,040.81, earning $40.81. Depositing more means more earnings — $10,000 at 4% APY yields $10,408.08 after a year.
Ensure you’re getting the best savings rate possible. See how much you could earn with today’s rates. Some accounts offer high APYs, like SoFi’s 4% rate. Compound interest daily and watch your money grow.
*SoFi offers up to 4.00% APY on Savings with a 0.70% APY Boost for 6 months. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.
Read more at Yahoo Finance: Best high-yield savings interest rates today, January 3, 2026 (Earn up to 4% APY)