Rates on savings accounts are the same compared to one week ago, with the highest yield for a standard savings account being 5.84%.
High-yield savings accounts require more effort, but offer higher interest rates, with the best rate for a $10,000 minimum deposit account being 4.88%.
The average APY for traditional savings accounts is 0.22%, while for high-yield savings accounts it is 0.23% for $10,000 minimum deposit and 0.24% for $25,000 minimum deposit.
Savings rates are influenced by the Federal Reserve's rate moves, and they fluctuate based on the state of the economy and inflation.