Savings account rates have remained steady compared to last week, with the highest rate reaching 5.84% for a standard account with a $2,500 minimum deposit.
Traditional savings accounts have seen a rise in rates in recent years, especially with online banks and credit unions offering higher rates than brick-and-mortar banks.
High-yield savings accounts can offer significantly more interest, but sometimes require certain conditions such as being a credit union member or maintaining a large deposit.
Today's best interest rates are around 4.88% for accounts requiring a $10,000 minimum deposit and 3.94% for those needing a $25,000 minimum deposit.