Best savings interest rates today, July 20, 2025 (best accounts offering 3.9% APY)
Overview of savings interest rates today
The national average savings account rate stands at 0.38%, according to the FDIC. This might not seem like much, but consider that three years ago, it was just 0.06%, reflecting a sharp rise in a short period of time.
As of July 20, 2025, the highest savings account rate available from our partners is 4.3% APY. This rate is offered by Openbank and requires no minimum deposit.
Since these rates may not be around much longer, consider opening a high-yield savings account now to take advantage of today's high rates.
Here is a look at some of the best savings rates available today from our verified partners:
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How much interest can I earn with a savings account?
The amount of interest you can earn from a savings account depends on the annual percentage rate (APY). This is a measure of your total earnings after one year when considering the base interest rate and how often interest compounds (savings account interest typically compounds daily).
Say you put $1,000 in a savings account at the average interest rate of 0.42% with daily compounding. At the end of one year, your balance would grow to $1,004.12 — your initial $1,000 deposit, plus just $4.12 in interest.
Now let's say you choose a high-yield savings account that offers 4% APY instead. In this case, your balance would grow to $1,040.81 over the same period, which includes $40.81 in interest.
The more you deposit in a savings account, the more you stand to earn. If we took our same example of a high-yield savings account at 4% APY, but deposit $10,000, your total balance after one year would be $10,408.08, meaning you'd earn $408.08 in interest.
Read more: What is a good savings account rate?
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