Interest rates on savings accounts are dropping, so it’s crucial to find the best rate. The national average is 0.4%, up from 0.06% three years ago. However, some accounts offer much higher rates, with the current highest rate at 4.3% APY from SoFi. Your earnings depend on the APY and compounding frequency.

If you deposit $1,000 in a savings account with a 0.4% interest rate, you would earn $4.01 in a year. Opting for a high-yield account at 4% APY would yield $40.81 in interest. The more you deposit, the more you earn — $10,000 could earn you $408.08 in a year.

To earn more from your savings, consider accounts offering higher rates. SoFi currently offers up to 4.3% APY on savings accounts. Ensure you compare rates and terms to maximize your savings potential.

Read more at Yahoo Finance: Best high-yield savings interest rates today, November 22, 2025 (Earn up to 4.3% APY)