Interest rates on savings accounts have been declining, making it crucial to secure the best available rate when shopping for a savings account. This guide breaks down today’s savings interest rates and highlights top offers.
Savings Interest Rates Today
The national average savings account rate currently stands at 0.39%, according to the FDIC. This is a significant increase from just 0.06% three years ago.
While the national average is modest, the best savings rates available on the market today are considerably higher. Some leading accounts are offering 4% APY and above.
As of March 15, 2026, the highest savings account rate from our partners is 4% APY, offered by SoFi and Valley Bank Direct.
How Much Interest Can You Earn?
The amount of interest earned from a savings account is determined by the annual percentage yield (APY). APY reflects your total earnings after one year, factoring in the base interest rate and the frequency of interest compounding, which is typically daily for savings accounts.
For example, depositing $1,000 into a savings account with the national average interest rate of 0.39% with daily compounding would result in a balance of $1,003.91 after one year, earning $3.91 in interest.
Conversely, choosing a high-yield savings account offering 4% APY would grow your balance to $1,040.81 over the same period, yielding $40.81 in interest.
Larger deposits yield greater returns. A $10,000 deposit in a 4% APY high-yield savings account would grow to $10,408.08 after one year, earning $408.08 in interest.
SoFi offers up to 4.00% APY on its savings accounts. This includes a 0.70% APY boost, added to the 3.30% APY as of December 23, 2025, for up to six months. To qualify, new customers must open a SoFi Checking & Savings account and enroll in SoFi Plus by January 31, 2026. Rates are variable and subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. is a member of the FDIC.
Fonte: Yahoo Finance
