What is the average interest rate for savings accounts?

Core Insights - The average savings account rate serves as a benchmark but should not be the rate consumers settle for, as higher yields are available through high-yield savings accounts [1] - The national average savings account yield is currently 0.62 percent APY, while top high-yield savings accounts offer rates exceeding 4 percent APY, which is over six times the national average [2] National Average Savings Account Interest Rates - As of December 23, 2025, the national average savings account interest rate is 0.62 percent APY, based on a survey of over 500 banks and credit unions [2][3] - High-yield savings accounts are available that provide significantly higher returns, with some offering rates above 4 percent APY [2] Interest Rates for Linked Checking and Savings - Linking a savings account with a checking account can yield higher interest rates, often referred to as relationship rates, which are more common among traditional banks [4] - U.S. Bank offers higher APYs for customers who pair a qualifying checking account with a Bank Smartly savings account, with rates increasing based on account balances [5][8] Comparison of Online Banks and Traditional Banks - Online banks typically offer lower minimum balance requirements and higher APYs compared to traditional brick-and-mortar banks, which may charge monthly fees [7] - Many online banks have minimum opening requirements of $100 or less and provide high APYs on all balances, making them a competitive option for savers [5][7]