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High-Yield Savings Account Rates Today: June 16, 2025 – Rates Are Steady
- Rates on high-yield savings accounts remain the same compared to last week, with potential to earn up to 5.84%.
- Traditional savings accounts have historically offered minimal interest post-recession, but rates have been increasing.
- Online banks and credit unions typically provide higher interest rates than brick-and-mortar banks.
- The current average APY for traditional savings accounts is 0.22%, while high-yield accounts offer more but may require certain conditions.
- The highest interest rate on high-yield accounts with a $10,000 deposit is 4.88%.
- High-yield savings accounts with a $25,000 minimum deposit offer rates up to 3.94%.
- When choosing a savings account, consider the interest rate, minimum deposit requirements, and associated fees.
- Ensure the bank or credit union is reputable, with FDIC or NCUA insurance for account protection.
- Brick-and-mortar banks may offer lower interest rates compared to online-only banks, which can provide rates exceeding 4.00% APY.
- Be cautious of fees like monthly maintenance fees and excess withdrawal charges that can impact your savings.
- Prioritize understanding fees and insurance coverage before finalizing a savings account choice.
- Curinos calculates average rates for personal use savings accounts, excluding certain specialized account types.
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