The typical rate of return for saving accounts across various financial institutions.
Savings Account Yields: Aim High for Maximum Returns
The current average savings account yield serves as a benchmark for the overall interest-rate environment, yet settling for this rate is not advisable. Instead, strive for an annual percentage yield (APY) considerably above the national average, which can be found in high-yield savings accounts. Effortlessly discover a high-yield savings account offering a competitive return with minimal balance requirements.
Numerous online banks feature savings interest rates surpassing the national average. The higher the interest rate, the more you'll earn on your savings. At present, the national average savings account yield is 0.6 percent APY, according to our comprehensive survey of financial institutions as of May 30, 2025. Top-ranked high-yield savings accounts are providing rates exceeding 4 percent APY.
To calculate the national average, our website reviews nearly 500 banks and credit unions weekly. The survey includes institutions that are widely accessible and boast high yields, as well as some of the country's largest banks.
Linking your savings account with a checking account is one method to earn a higher yield at some banks, often referred to as relationship rates. This practice is more prevalent among brick-and-mortar banks. For example, at U.S. Bank, a higher APY can be attained by coupling a qualifying checking account with a Bank Smartly savings account. The relationship rate you receive will depend on the amount you maintain with the bank:
- The standard APY on Bank Smartly savings is 0.05% APY on any balance.
- With another qualifying U.S. Bank account and $5,000 or less across accounts, you'll earn 1% APY.
- With at least $25,000 in combined balances across accounts, you'll earn 3% APY or higher.
However, you'll often discover higher APYs at online-only banks, with minimal account opening requirements and competitive rates. Countless online banks demand a minimum deposit of $100 or less and pay competitive APYs on all balances.
Comparing online banks to larger institutions is essential when searching for a high-yield account. You're most likely to find that online banks impose lower minimum balances, don't charge monthly fees, and might pay the same APY on all balances. In many instances, online banks will offer higher savings account interest rates than brick-and-mortar banks, even when including relationship rates.
Use the national average savings rate as your benchmark. You should be able to locate a bank readily providing an APY multiple times higher than the national average.
Calculate the difference between the APY at a big bank compared with the yield at an online bank to visualize the benefits of higher-interest earnings. The power of compounding allows your interest to earn interest over time.
Enrichment Data Relevance:- Online-only banks tend to provide higher APYs compared to traditional brick-and-mortar banks due to lower operational costs. Notably, high-yield savings accounts at online banks generally surpass traditional savings accounts' APYs, which typically have much lower yields. Rates of up to 5.00% in some accounts have been reported, though no specific national average was provided in the given data. Online banks, such as Openbank (4.40% APY), EverBank, and Bread Savings (4.30% APY), are among the ones offering competitive rates with low opening deposit requirements. Rates up to 4.66% have also been mentioned in NerdWallet's roundup. This information illustrates the competitiveness of high-yield savings accounts offered by online banks relative to traditional ones.
To maximize your savings, consider high-yield savings accounts offered by online banks. These accounts typically provide APYs significantly higher than the national average, often exceeding 4 percent APY as compared to the current national average of 0.6 percent APY. By opting for a high-yield savings account, you can earn more on your personal-finance savings and foster business growth through increased returns on your investments.
