Inquiry about the typical interest rate for deposits in savings accounts
Going for a run-of-the-mill savings account rate just ain't cuttin' it, pal. You gotta aim higher, shoot for the stars, and land on a bloody annual percentage yield (APY) that'll make your wallet dance and your bank account rise.
To get started, forget the national average and go for something grander. Remember the high-yield savings accounts that make bank execs quiver in their fancy shoes? Yeah, those are the ones you want. They're offering rates that can make your bank account grow faster than a gremlin on a sugar rush!
It's as easy as pie to find a high-yield savings account that delivers a killer return with a low-rent minimum balance requirement. The best part is that these accounts can be found at the most prestigious online banks that dominate the Internet.
The Dirt on National Average Savings Rates
We've done the dirty work for you—surveys on nearly 500 banks and credit unions on a weekly basis to give you the national averages. And the results? The national average savings account yield is a measly 0.6 percent APY, as your buddy Bankrate reported on June 4, 2025. But wait! The best high-yield savings accounts push the limit, offering UPWARDS of 4 percent APY!
Get to the Details
So, how does our website calculate this data? We dig deep, surveying a wide variety of institutions, including those with broad availability and high yields and even some of the biggest banks in the United States.
The Story of Checking and Savings Accounts
Linking your savings account with a checking account can get you a higher yield at some banks. Thismeans more green in your pocket! It's more common for brick-and-mortar banks, but you can find it online too.
For example, at U.S. Bank, you can earn a higher APY by pairing a qualifying checking account with a Bank Smartly savings account. Spend a little more time with your money and you could see a significant increase in your yield:
- The standard APY on Bank Smartly savings is a mere 0.05 percent APY on any balance.*
- But if you have another qualifying U.S. Bank account and keep $5,000 or less across accounts, you'll earn a whopping 1 percent APY.*
- With at least $25,000 in combined balances across accounts, you'll earn 3 percent APY or more.*
But don't underestimate online-only banks. They pay high APYs on all balances with minimum requirements of $100 or less, making them a no-brainer choice for savvy savers.
*Annual percentage yields (APYs) shown are as of May 29, 2025. our editorial team updates this information weekly, so the rates might have changed since they were last updated.
Bottom line, kiddo
Make like a pirate and compare online banks with the big dawgs. You'll likely find they offer lower minimum balances, no monthly fees, and pay the same APY on all balances. And guess what? They frequently outshine the interest rates found at brick-and-mortar banks, even with a relationship rate!
Take the national average savings rate like a guideline. You oughta be able to find a bank offering an APY multiple times higher than the national average. Give the calculator a spin and compare the APY at a big bank with the rate at an online bank. You'll soon realize the difference between those high-interest earnings. Let the power of compounding work its magic—your interest will be earning interest over time!
- Instead of settling for the national average savings rate, consider high-yield savings accounts, which are found in prestigious online banks, and can deliver a returns significantly higher than the national average savings account rate, with APY rates pushing upward of 4 percent.
- For those looking to maximize their personal-finance and business savings, it's recommended to examine the APY rates offered by online banks, as these institutions often pay high APYs on all balances, even with minimum requirements as low as $100, outshining the interest rates found at brick-and-mortar banks, including large-scale institutions.
