Savings account interest rates have fallen from historic highs, but some high-yield accounts still offer over 4% APY. National average is 0.39%, but top accounts exceed 10 times that rate. SoFi, Barclays, and Valley Direct offer the highest rates at 4% APY. Shop around for competitive offers from online banks and credit unions with low fees and high rates.

Savings accounts are safe, insured by FDIC or NCUA up to $250,000. They are ideal for short-term goals like down payments or emergency funds. For long-term goals like retirement, consider higher-risk investments like stocks. Online banks and credit unions offer rates between 4-5% APY. CDs and money market accounts have more withdrawal restrictions.

SoFi Savings offers up to 4% APY with a 0.70% APY Boost for 6 months. Open a new SoFi Checking & Savings account and enroll in SoFi Plus by 1/31/26. Rates are variable and terms apply. Visit sofi.com/banking#2 for more information.

Read more at Yahoo Finance: Best high-yield savings interest rates today, January 30, 2026 (up to 4% APY return)