Today's top high-yield savings account rates for January 6, 2026 (Earn as much as 4% APY)

Current Trends in High-Yield Savings Account Rates

Although interest rates for high-yield savings accounts have been trending downward, several top accounts are still offering annual percentage yields (APYs) above 4%. To maximize the returns on your savings, it’s essential to compare options and seek out the most attractive rates. If you’re unsure where to begin, this guide will help you explore today’s savings rates and highlight where to find the most competitive offers.

Where Can You Find the Most Competitive Savings Rates?

According to the FDIC, the typical traditional savings account yields just 0.39%. However, high-yield savings accounts frequently offer much higher returns.

As of January 6, 2026, SoFi provides one of the leading savings rates among our partners, offering a 4% APY.*

Below are some of the top savings rates currently available from our trusted partners:

How Have Savings Account Rates Changed Over Time?

Interest rates on savings accounts have seen significant changes over the past ten years. Between 2010 and 2015, rates were extremely low, typically ranging from 0.06% to 0.10%. This was largely a result of the 2008 financial crisis and the Federal Reserve’s move to lower its target rate to near zero to encourage economic recovery.

From 2015 through 2018, rates began to climb slowly but remained modest by historical standards. The arrival of the COVID-19 pandemic in 2020 prompted the Fed to cut rates again, pushing average savings yields down to around 0.05% to 0.06% by mid-2021.

Since then, savings account rates have rebounded, primarily due to the Fed’s rate hikes in response to rising inflation. However, as the Fed reduced the federal funds rate in late 2024 and into 2025, deposit rates have gradually fallen again.

Here’s an overview of how savings account rates have shifted over the last decade:

Should You Choose a High-Yield Savings Account?

Even though savings account rates have increased since 2021, the average yield remains relatively low, especially when compared to potential returns from market investments. If your goal is long-term growth, such as saving for retirement or a child’s education, a savings account may not provide the returns you need.

However, for short-term objectives—like building an emergency fund, saving for a home down payment, or planning a vacation—a high-yield savings account can be a smart choice, particularly if you want easy access to your money. Other deposit products, such as money market accounts and certificates of deposit (CDs), may offer similar or even higher rates, but often limit how frequently you can withdraw funds. The best approach is to compare accounts and select one with a strong rate and minimal fees.

*You can earn up to 4.00% APY on SoFi Savings, which includes a 0.70% APY boost (added to the base 3.30% APY as of 12/23/25) for up to six months. To qualify, open a new SoFi Checking & Savings account and enroll in SoFi Plus by 1/31/26. Rates are variable and may change. For details, visit sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.