Inquiry concerning the typical interest rate associated with savings account deposits.
In the current financial landscape, the national average interest rate for regular savings accounts in the United States is around 0.38% APY, according to data from the Federal Deposit Insurance Corporation (FDIC) from mid-2025[1]. A survey conducted by Bankrate in July 2025 shows a slightly higher national average of 0.57% APY, reflecting a broader range of available rates, including some higher-yielding options[2].
However, high-yield savings accounts, particularly those from online-only banks, offer much higher APYs, often several times the national average. These accounts typically offer rates in the range of about 3.6% to 5.0% APY[2][3][4].
Varo Money currently offers up to 5.00% APY, one of the best available high-yield rates[3]. Several prominent online banks offer rates around 3.60% to 4.26% APY, such as TAB Bank High-Yield Savings (4.26% APY), Synchrony High-Yield Savings (3.80% APY), Marcus by Goldman Sachs (3.65% APY), Ally Bank Online Savings (3.60% APY), and Chime+ Savings (3.75% APY)[4].
Online banks can afford to offer higher rates because they have lower overhead costs and use attractive yields to win customers. In some cases, banks provide even better rates if you link savings accounts with their checking accounts[4].
In summary, high-yield savings accounts offer competitive returns with low minimum balance requirements. In many cases, savings account interest rates at online banks are higher than what you'll earn from a savings account at a brick-and-mortar bank, even with a relationship rate. The national average savings rate should be used as a gauge to find a bank offering an APY multiple times higher than the national average.
| Account Type | Typical APY Range | |--------------------------|----------------------| | National average savings | ~0.38% to 0.57% APY | | High-yield savings (online banks) | 3.6% to 5.0% APY |
The APYs shown are as of July 3, 2025, and are updated weekly by the website's editorial team. Given the Federal Reserve's current hold on interest rates, these attractive rates could persist for some time[3][5]. If your goal is to maximize interest earnings on savings, opting for a reputable high-yield savings account from an online bank can offer a return many times the national average.
To maximize interest earnings on savings, it's advantageous to consider a high-yield savings account from an online bank, as they often provide rates several times the national average for personal-finance, such as Varo Money's offer of up to 5.00% APY or TAB Bank's High-Yield Savings with a 4.26% APY. These finance options can offer competitive returns with low minimum balance requirements, making them a better choice compared to savings accounts at brick-and-mortar banks, even with relationship rates.
