Savings account rates have remained steady with the highest yield being 5.84% for a $2,500 minimum deposit account.
Average APY for a traditional savings account is 0.22%, while high-yield savings accounts typically offer more interest but may require certain conditions.
On high-yield savings accounts with a $10,000 minimum deposit, the best interest rate is 4.88%, unchanged from last week.
When considering a high-yield savings account, compare yields, minimum deposit requirements, fees, bank reputation, and insurance coverage by the FDIC or NCUA.