Interest rates on savings accounts are dropping, making it crucial to find the best rates available. The national average savings rate is 0.39%, significantly lower than top offers of 4% APY and above. SoFi currently offers the highest rate at 4.3% APY as of December 21, 2025.

The APY determines the interest earned in a savings account. At 0.39% APY, $1,000 would grow to $1,003.91 in one year. Choosing a 4% APY account would yield $1,040.81 in the same period. Depositing $10,000 in a 4% APY account could earn $408.08 in interest after a year.

To maximize earnings, consider high-yield savings accounts with rates above 4% APY. SoFi offers up to 4.30% APY with a 0.70% boost for new accounts opened by 1/31/26. Rates are variable and subject to change, terms apply. Learn more at sofi.com/banking#2.

Read more at Yahoo Finance: Best high-yield savings interest rates today, December 21, 2025 (Earn up to 4.3% APY)