Savings account rates are falling, with the average APY for a traditional savings account currently at 0.23%.
High-yield savings accounts offer more interest but may require meeting certain criteria or higher minimum deposits.
The highest rate for a standard savings account with a $2,500 minimum deposit is 5.84%, while the best rate for a high-yield account with a $10,000 minimum deposit is 5.35%.
For high-yield accounts requiring a $25,000 minimum deposit, the highest rate available today is 4.41%.