Best high-yield savings interest rates today, September 16, 2025 (Earn up to 4.30% APY)

Core Insights - High-yield savings account rates have been declining, yet some accounts still offer rates above 4% APY [1] - The average interest rate for traditional savings accounts is currently 0.39%, while the best high-yield accounts can offer rates as high as 4.30% APY [2] Historical Trends - From 2010 to 2015, savings account interest rates were extremely low, ranging from 0.06% to 0.10%, primarily due to the 2008 financial crisis and the Federal Reserve's near-zero target rate [3] - Interest rates began to rise gradually from 2015 to 2018 but remained low historically; the COVID-19 pandemic in 2020 caused another significant drop, with average rates falling to around 0.05% to 0.06% by mid-2021 [4] - Since 2021, savings account rates have improved significantly due to the Federal Reserve's interest rate hikes in response to rising inflation; however, the Fed lowered the federal funds rate in late 2024, leading to a decline in deposit rates [5] Account Suitability - High-yield savings accounts are suitable for short-term savings goals, such as emergency funds or vacations, due to their accessibility; other deposit accounts may offer competitive rates but often have withdrawal restrictions [6]