Savings Rates Over 4% APY Could Stick Around a While Longer, but Not Forever. Today’s Best Savings Rates for Feb. 3, 2025
- The average interest rate of the best high -yield savings account is 4.15 %.
- Last week, the savings rate remained stable.
- If you want to earn interest at today’s interest rate, we don’t recommend that you wait, because the annual yield may decline.
We have been observing The best high -yield savings account It’s been a while. The best interest rate is still more than 4 % or APY, but everyone’s attention pays attention to the next savings rate.
Last week, when the Fed left the federal fund interest rate scope in January alone, the interest rate of some best accounts remained stable. From a historical point of view, when the Federal Reserve improves or reduces interest rates, the bank does this Borrowing and savingsEssence
Although no one is sure where the next rate is going, there is still time to use the current APY. We don’t recommend waiting-this may mean missing interests. This is a careful study of the best savings rate and the banks that provide their banks.
Today’s best savings
| bank | APY* | The smallest. Open deposit |
|---|---|---|
| Preventability | 5.00 % ** | $ 0 |
| Newerk Bank | 4.70 % | $ 0 |
| Lendclub | 4.50 % | $ 0 |
| Bask bank | 4.50 % | $ 0 |
| Everbank | 4.40 % | $ 0 |
| Synchronous bank | 4.10 % | $ 0 |
| Laurel | 4.00 % | $ 0 |
| American Express | 3.80 % | $ 0 |
| Capital | 3.80 % | $ 0 |
Experts suggest that the comparative rate of comparison before opening a savings account to obtain the best APY. Enter your information below to get the best interest rate of CNET partners.
How to use high -yield savings accounts to start saving
The savings goal starts in the new year may be overwhelming, especially when you consider which new account to open. Currency coach and CNET money expert Bernadette Joy Share some techniques to help you adhere to your goal.
Joey said: “First of all, name your savings account as meaningful things, such as” peace of mind “or” dream fund “.” “This is a psychological hacker that makes it easier to maintain motivation.”
Dividing your goals into smaller blocks can make it easier to manage. For example, if you plan to save $ 1,000, you can start from $ 200 per month. If you put the money in a high -yield savings account, you will get interest, which can help you achieve your goals faster.
Joy also recommends insisting on using a high -yield savings account that does not charge monthly fees or minimum balances.
The best CD can earn up to 4.65 % of APY. Check Today’s priceEssence
Average weekly savings rate
| Last week’s CNET average savings APY* | This week’s CNET saves an average APY | Change every week |
|---|---|---|
| 4.16 % | 4.15 % | -0.24 % |
What should I look for when choosing a high -yield savings account?
Because credit cooperatives and online banks are most likely to provide high -yield savings accounts, it may change your savings method. For example, some online banks do not accept cash deposits and may not have physical aid. This is other factors that need to be considered when opening HYSA.
- Account requirements: Some HYSAs need a minimum amount to open an account, usually between $ 25 and 100. Others do not have any minimum. You should be aware of the balance requirements to ensure that your account maintains a good reputation and continue to earn interest.
- ATM visit: Not every bank offers cash deposits and withdrawals. Lanesha Mohip, the founder of polishing CFO, said that if you need regular ATM access rights, please check whether your bank provides an ATM cost to repay or extensively internal ATM.
- cost: MOHIP said, please pay attention to monthly maintenance, extraction and paper declaration costs. These costs can balance you.
- Accessability: If you like face -to -face help, look for banks with physical branches. If you are willing to manage money in a digital manner, consider online banking.
- A withdrawal restriction: If you withdraw more than six a month, some banks will charge excess tos and withdrawals. If you may need to do more, consider banks without this restriction.
- Security and guarantee: Make sure your bank is insurance Federal deposit insurance company -Ings State Credit Cooperative Trade Administration Bureau. In this way, if the bank fails, each type of funds can protect each account holder with a maximum of $ 250,000.
- Customer service: Choose a bank with a rapid response and can easily get help when you need it. Read the online customer review and contact the bank’s customer service to make you cooperate with the bank.
Methodology
CNET reviewed savings accounts in more than 50 traditional and online banks, credit cooperatives and financial institutions, and provided nationwide services. The score of each account is between one (lowest) and five (maximum). The savings accounts listed here are all FDIC or NCUA insurance. Each account, each account, each account category up to $ 250,000.
CNET uses a set of established standards to evaluate the best savings account. This standard compares the annual yield, monthly fees, minimum deposits or balances, and opportunities to enter physical branches. The bank on our list does not charge a monthly maintenance fee. The account with any of the following privileges will rank higher:
- Account bonus
- Automatic savings function
- Wealth Management Consultation/Coach Service
- Cash deposit
- Extensive ATM network and/or ATM rebates are used for external ATM use
If the savings account is not easy to play or uses useful functions such as ATM cards, it can be rated as low. The cost of applying restricted residence or exceeding the monthly transaction limit may also be lower.
*As of January 31, 2025, according to the bank we tracked in CNET. From January 20th to January 27, 2025, the week increase/decrease.
** Varo only provides 5 % APY, with a balance of less than $ 5,000.
