Best High Yield Savings Interest Rates Today, January 5, 2026 (Earn up to 4% APY)

Today, savings account rates remain well above the national average. The Federal Reserve has cut the federal funds rate three times in 2024 and three times in 2025. This means deposit account rates are also falling. It’s more important than ever to make sure you’re getting the highest possible rate on your savings, and a high yield savings account could be the solution.

These accounts pay more interest than the typical savings account – up to 4% APY and more in some cases. Not sure where to find the best interest rates for savings today? Read on to find out which banks offer the best deals.

In general, high-yield savings accounts offer better interest rates than traditional savings accounts. However, rates vary considerably between financial institutions. That’s why it’s important to shop around and compare rates before opening an account.

As of January 5, 2026, the highest savings rate available from our partners is 4% APY. This rate is offered by SoFi.*

As you will see, the majority of the highest savings rates come from online banks. These institutions have much lower overhead costs than traditional banks, so they can pass those savings on to their customers in the form of higher rates and lower fees.

Here’s a look at some of the best savings rates available today from our verified partners:

A high-yield savings account can be a good solution if you’re looking for a safe place to store your money and benefit from a competitive interest rate while preserving your cash flow. Traditional savings accounts and certificates of deposit (CDs) have some of the highest interest rates we’ve seen in over a decade, despite several rate cuts by the Federal Reserve. However, the national average of these prices is quite low compared to the best offers available.

For example, the average rate on savings accounts is just 0.39%, while 1-year CDs pay 1.63% on average, according to the FDIC. The Fed is also expected to cut rates even further in the coming months, meaning this may be the last chance for savers to take advantage of today’s high rates.

Taking the time to compare accounts and rates from various financial institutions will help you get the best deal available. However, interest rates aren’t the only factor to consider when choosing a savings account.

For example, some banks may require you to hold a minimum balance to benefit from the highest advertised rate and avoid monthly fees. Other factors to evaluate include customer service options and hours, access to ATMs and branches, digital banking tools and the overall financial stability of the institution. Also, before opening a savings account, make sure it is insured by the Federal Deposit Insurance Corporation (FDIC) – or the National Credit Union Administration (NCUA) if held by a credit union – so your money is protected if the institution fails.

Learn more: How to Open a Savings Account: A Step-by-Step Guide

*Earn up to 4.00% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY boost (added to 3.30% APY as of 12/23/25) for up to 6 months. Open a new SoFi Checking & Savings account and sign up for SoFi Plus by 1/31/26. Variable rates, subject to change. Conditions apply to sofi.com/banking#2. SoFi Bank, Member NA, FDIC.