Savings Interest Rates Today, March 15, 2025 (Best Account Provides 4.30% APY)
Find out how much you could earn with today’s savings rates.
Sat, Mar 15, 2025
The Federal Reserve cut its target rate three times in late 2024, which means savings interest rates are falling. So it’s important to be sure you’re getting the best rate possible when shopping around for a savings account. The following is a breakdown of savings interest rates today and where to find the best offers.
Overview of Savings Interest Rates Today
The national average savings account rate stands at 0.41%, according to the FDIC. This might not seem like much, but consider that three years ago, it was just 0.06%. Although the national average savings interest rate is fairly low compared to other investments, the best savings rates on the market today are much higher. In fact, some of the top accounts are currently offering 4% APY and up.
Today, the highest savings account rate available from our partners is 4.30% APY. This rate is offered by CIT Bank and there is a $5,000 minimum deposit required. Read our full review of CIT Bank.
Here is a look at some of the best savings rates available today from our verified partners:
Related: 10 best high-yield savings accounts today
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 0.41% with daily compounding. At the end of one year, your balance would grow to $1,004.11 — your initial $1,000 deposit, plus just $4.11 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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18 savings accounts with interest rates of 4% APY and higher (updated weekly)
Is it possible to find savings accounts with interest rates of 4% or more? See which banks currently offer 4% interest savings accounts and open an account today.
What is a good savings account interest rate in 2025?
Currently, a good savings account interest rate is an annual percentage yield of around 4%. However, rates can fluctuate over time. Here’s how to ensure you’re getting the best rate possible.
Savings interest rates today, May 20, 2024 (earn up to 5.15%)
Compare the best savings interest rates available today vs. the national average.
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Compare the best savings interest rates available today vs. the national average.
Can you negotiate a higher savings account rate with your bank?
Can you negotiate interest rates with banks? Generally, no. But here are some steps you can take to earn more on your savings.
What is the average CD interest rate?
CD interest rates play a key role in how much your savings can grow. Find out where today’s average CD rates stand and how to maximize your interest earnings.
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