Best high-yield savings interest rates today, September 30, 2025 (Earn up to 4.25% APY)

Core Insights - High-yield savings account rates have been declining, yet some accounts still offer rates above 4% APY, necessitating research to find competitive offers [1] - The average interest rate for traditional savings accounts is currently 0.40%, while the highest savings account rate available is 4.25% APY from Poppy Bank as of September 30, 2025 [2] Historical Trends - Savings account interest rates have seen significant fluctuations over the past decade, with rates between 0.06% to 0.10% from 2010 to 2015 due to the 2008 financial crisis and the Federal Reserve's near-zero target rate [3] - From 2015 to 2018, interest rates gradually increased but remained low historically; the COVID-19 pandemic in 2020 caused another sharp decline, bringing rates down to around 0.05% to 0.06% by mid-2021 [4] - Following the pandemic, savings account rates recovered due to the Federal Reserve's interest rate hikes in response to inflation, but recent rate cuts have led to declining deposit rates [5] Savings Account Suitability - High-yield savings accounts are suitable for short-term savings goals such as emergency funds or home down payments, offering easy access to funds compared to other deposit accounts like money markets and CDs, which may have withdrawal restrictions [6]