Best high-yield savings interest rates today, November 7, 2025 (up to 4.5% APY return)

Core Insights - The Federal Reserve has recently cut the federal funds rate, leading to a decline in deposit interest rates from historic highs, yet high-yield savings accounts still offer rates above 4% APY [1][2] - The national average savings account interest rate is currently 0.4%, while top high-yield accounts can offer rates over 10 times this average, with SoFi providing the highest rate at 4.5% APY as of November 7, 2025 [2] - Online banks are highlighted as having lower overhead costs, allowing them to offer higher deposit rates and lower fees, making them a favorable option for high-yield savings accounts [3] Summary by Category Savings Account Rates - The highest savings account rate available is 4.5% APY from SoFi, significantly above the national average of 0.4% [2] - Online banks and credit unions are noted for providing competitive rates, with many offering rates between 4% and 5% APY [4] Online Banks - Online banks operate exclusively online, which reduces overhead costs and allows for higher deposit rates and lower fees [3] - Many high-yield savings accounts from online banks come with zero monthly fees and no minimum opening deposit requirements [3] Credit Unions - Credit unions, as not-for-profit financial cooperatives, also offer competitive rates and fewer fees, although membership requirements may vary [4] Safety and Investment Considerations - Savings accounts are insured by the FDIC or NCUA, protecting deposits up to $250,000, making them a safe option for short-term savings [5] - For long-term savings goals, investing in higher-risk market options is recommended, as savings accounts may not provide sufficient returns [6] - High-yield savings accounts are ideal for short-term goals, allowing easier access to funds compared to other deposit accounts [7]