High-yield savings account rates have remained steady compared to last week, with the highest rate at 5.84% for a $2,500 minimum deposit.
Traditional savings accounts offer an average APY of 0.22%, while high-yield savings accounts provide substantially higher interest rates, such as 4.88% with a $10,000 deposit.
For high-yield savings accounts requiring a $25,000 minimum deposit, the current highest rate available is 4.40%.
Historically, the early 1980s saw the highest interest rates, with a three-month CD reaching 18%, considerably higher than today's rates.