<ul><li>Savings account rates have remained steady this week, with the highest yield reaching up to 5.84%.</li><li>Traditional savings accounts have historically offered low interest rates, but higher yields can now be found, especially with online banks and credit unions.</li><li>The average APY for a traditional savings account is 0.22%, while high-yield savings accounts offer substantially higher interest rates, albeit sometimes with conditions like minimum deposits or membership requirements.</li><li>Interest rates on savings accounts are influenced by the Federal Reserve's rate changes, with financial institutions adjusting rates accordingly after the Fed's decisions at FOMC meetings.</li></ul>

High-Yield Savings Account Rates Today: May 21, 2025 – Rates Are Steady

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