Federal Reserve cuts target rate, leading to lower savings interest rates; highest rate is 4.3% APY.

From Yahoo Finance: 2025-06-15 06:00:00

The Federal Reserve has cut its target rate, causing savings interest rates to fall. The national average savings account rate is currently 0.42%, up from 0.06% three years ago. The highest savings account rate available is 4.3% APY from EverBank and Openbank, with different deposit requirements. High-yield savings accounts offer the best rates for maximum earnings based on APY and daily compounding.



Read more at Yahoo Finance: Best high-yield savings interest rates today, June 15, 2025 (best accounts offering 4.3% APY)