High-yield savings account rates have been declining due to Federal Reserve rate cuts. These accounts offer higher interest rates, up to 4% APY. The best savings rates are around 4% to 4.5% APY, with SoFi currently offering 4% APY. Savings rates are linked to the federal funds rate set by the Federal Reserve.

After Fed rate cuts in late 2024, deposit rates have been falling. Experts predict more rate cuts, leading to further drops in savings account rates. High-yield savings accounts are a safe option to earn the best deposit rates. Consider factors like interest rates, goals, accessibility, and security when choosing where to put your money.

Read more at Yahoo Finance: Best high-yield savings interest rates today, January 14, 2026 (Earn up to 4% APY)