Find the right time to appear if you put your money in your savings account. The Federal Reserve lowered federal funding rates by triple by the end of 2024. As a result, deposit rates fell from their all-time highs. Still, high yield savings accounts can be found above 4% of the fees. So if you are looking for the best prices available today, here is a breakdown where they can be found.

According to the FDIC, the national average of savings accounts remains only 0.41%. Good news: Top high-yield savings accounts offer more than 10 times the national average.

Today, our partners offer the highest savings account interest rate of APY at 4.44%. This rate is provided by Peak Bank and does not require a minimum open deposit.

Here are some of the best savings rates available today by our proven partners:

Remember, it’s important to shop around before opening a savings account. Interest rates vary widely, but there are several banks (especially online banks) and credit unions with competitive offers.

Online banking is operated exclusively through the Internet. This greatly reduces its indirect costs, so they are able to pass these savings on to customers in the form of high deposit rates and low fees. In fact, many of the best high-yield savings accounts also come with zero monthly fees or minimum open deposit requirements. If you are looking for the best savings rate, online banking is a good place to start.

That said, online banking isn't the only place you can find a savings account of 4% to 5% APY. Credit unions are nonprofit financial cooperatives and are also known for providing competitive interest rates and fewer fees. Many credit unions have certain requirements that must be met to become a member, although some allow almost anyone to join.

Read more: That's why online banks offer the highest savings rate

A savings account is one of the safest places you can put in your money. They are insured by the FDIC (or in the case of a credit union), which means that if your financial institution fails, your deposit will be protected by up to $250,000. They can't lose money due to market volatility.

However, savings accounts are not always the right choice. Although today’s savings rates are high by historical standards, they still don’t have the returns you can get by investing your money in the market. For long-term savings goals like retirement, you need to invest most of your savings in higher risk (but higher rewards) market investments, such as stocks, index funds, and mutual funds, to achieve your goals.

However, if you are saving for shorter goals like down payments for families, vacations, or even emergency funds, a high yield savings account is one of the best options. This is especially true if you want to get your funds as needed; other types of high-yield deposit accounts, including money market accounts and certificates of deposit (CD), have more restrictions on how often you can evacuate.