A naukri.com initiative
Forbes
2d
385
Image Credit: Forbes
High-Yield Savings Account Rates Today: June 13, 2025 – Rates Are Steady
- Savings account rates have remained the same compared to a week ago, with the highest yield reaching 5.84%.
- Online banks and credit unions tend to offer higher interest rates than traditional brick-and-mortar banks.
- The current average APY for a traditional savings account is 0.22%.
- High-yield savings accounts can provide significantly higher interest rates but may require certain conditions like minimum deposits or membership in a credit union.
- The best interest rate available for high-yield accounts with a minimum deposit of $10,000 is 4.88%.
- The average APY for such accounts stands at 0.23% currently.
- For high-yield savings accounts with a $25,000 minimum deposit, the top interest rate is 3.94%.
- The average APY for these accounts is 0.24%.
- Apart from interest rates, factors to consider when choosing a savings account include minimum deposit requirements and potential fees.
- It is essential to assess the reputation and safety of the financial institution offering the savings account before applying.
- Savings account interest rates are influenced by the Federal Reserve's rate changes, which impact borrowing and savings rates in the economy.
- The Federal Reserve adjusts rates eight times a year during meetings of the Federal Open Market Committee (FOMC).
- Curinos calculates average savings rates excluding certain specialized account types, focusing on personal use accounts.
Read Full Article
23 Likes
For uninterrupted reading, download the app