Earn up to 4.20% APY before the next Fed rate reduction

The Federal Reserve will cut federal funding rates three times in the second half of 2024. This means that the deposit rate is declining. It’s more important than ever to make sure you’re earning the highest possible fees in your savings. High-yield savings account It might be a solution.

These accounts pay more interest than a typical savings account – up to 4% or more. Don’t know where to find the best savings rates today? Find out which banks have the best offers.

Historically speaking, interest rates on savings accounts have been high. That said, the prices are rising Traditional savings account It’s lighter than what was offered in a high-yield savings account.

For example, the average savings account fee is only 0.41%, while the highest savings interest rate is generally around 4.0% to 4.5% APY.

As of March 19, 2025, the highest savings account fee available from our partners is 4.20% APY. This fee is provided by Jenius Bank and does not require a minimum open deposit.

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This sees some of the best savings rates available today from our verified partners.

Related: 10 Best High-Earning Savings Accounts of 2025 >>

Deposit Account Fees – Including Saving Rate – Is Federal Fund Rate. This is the target interest rate set by the Federal Reserve. Increase your target rate and your savings account fees will usually rise. Conversely, if the Fed lowers that rate, the deposit rate will drop.

After multiple Interest rate hiking Federal funding rates fell three times in the second half of 2024, according to the Fed in response to the surge inflation. As a result, the deposit rate has also declined.

Experts can expect savings account fees to continue to fall this year as the Fed will lower its target rate twice more in 2025. However, a high-yield savings account is one of the best places to keep your cash secure and get the best deposit fees available.

read more: I’m a bond vs high yield savings account: Which is better to break inflation?

Choosing where to place your money is an important decision, and there are several factors to consider when evaluating your options. A high-yield savings account makes sense if you are looking for a safe place to hold shorter savings while earning solid returns. Here are some important considerations:

• interest rate: One of the most important features of a savings account is interest rates. It is important to shop and compare your best offers to ensure that your money grows over time, to ensure that your money grows over time. Considering the likelihood that savings will drop in the near future, Open a high-yield savings account This will allow you to take advantage of historically high rates.

• the goal: Today’s high-income savings accounts offer rates you haven’t seen in over a decade. That said, the savings rate is not yet consistent with the average stock market revenue. If you’re saving for a long-term goal like retirement, a savings account is probably not the best place to put your money in. However, if you’re saving for a financial emergency, a down payment on your home or car, a gift for the holiday season, or another short-term goal, a savings account is the perfect place to hold those funds.

• Accessibility: Certain types of accounts and investments may offer higher revenue than savings accounts, but can make access to funds difficult in a pinch. For example, if you place your savings in a Deposit certificate (CD) And if you need to access your money before the maturity date, you may be subject to an early withdrawal penalty. So, if you want to be able to immerse yourself in savings when needed, a high-yield savings account could be a better choice.

• safety: In most cases, savings accounts are Insurance by FDIC Up to federal restrictions. They too You can’t lose money Market fluctuations make it a low-risk option.

read more: Can I negotiate a higher savings account fee at my bank?