No, 7% interest savings accounts do not exist anymore due to Federal Reserve rate cuts.

Currently, no banks offer 7% APY on savings accounts due to aggressive rate hikes by the Federal Reserve. As inflation is controlled, the Fed is expected to continue rate cuts, leading to lower deposit rates. Interest rates for financial accounts like savings, checking, and credit cards have dropped with each rate cut. To earn higher rates, consider credit unions offering 7% APY on checking accounts, but be aware of requirements like minimum deposits. While 7% APY on savings is a thing of the past, maximize interest by choosing high-yield accounts for spending, emergencies, short-term savings, and retirement investments.

Read more at Yahoo Finance: Do 7% interest savings accounts exist anymore?