Savings account rates remain steady with the highest yield at 5.84% on a $2,500 minimum deposit.
Average APY for traditional savings accounts stands at 0.22% while that of high-yield accounts is 0.23% for $10,000 minimum deposit and 0.24% for $25,000 minimum deposit.
High-yield savings accounts offer more interest but may require certain conditions like being a credit union member or large deposits.
Historically, interest rates peaked in the early 1980s with the fed funds rate surpassing 19% in response to high inflation.