The highest savings account rates today: High-yield savings account paying up to 1.65% APY

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High-yield savings accounts pay higher interest rates than traditional savings accounts. 

Our best savings accounts guide and best high-yield savings account guide can be great starting points in your research. But if you prioritize finding the highest rates above all else, then this list is for you.

What are the interest rates for savings accounts today?

The FDIC keeps tabs on national rates for interest-earning bank accounts. The average interest rate earned by a savings account right now is FDIC National Deposit Savings Rates.

We've been checking over a dozen financial institutions to keep up with their new rate offerings. Our list includes accounts with much higher interest rates than the national average since online institutions tend to offer high-yield bank accounts.

The most competitive high-yield savings accounts pay around 1.20% APY right now. Keep in mind interest-bearing accounts may change. Savings accounts have a variable interest rate, which means that the rate may fluctuate at any time. 

The Federal Reserve also has also recently increased the federal funds rate for the third time this year, so savings interest rates are also expected to steadily increase throughout 2022.

Best savings account interest rates

Bread Savings recently increased the rate of its Bread Savings High-Yield Savings Account to Bread Savings High-Yield Savings Account. The Bread Savings High-Yield Savings Account is great high-yield savings account if you have at least $100 to get started.

If you haven't heard of Bread Savings, you might be familiar with Comenity Direct. Comenity Direct has recently been rebranded because its parent company, Bread Financial, has expanded to include lending options.

The Bask Bank Interest Savings Account is another strong high-yield savings account. It doesn't require a minimum opening deposit and earns Bask Bank Interest Savings Account right now. 

Meanwhile, the Citizens Online Access Savings Account might be ideal if you have at least $5,000 for a minimum opening deposit. Citizens is an online-only company that's backed by Citizens Bank. You might be familiar with Citizens Bank if you live on the East Coast. 

These institutions only have savings accounts, not checking accounts, so you'll need to link an external bank account to access your money. You might consider other banking options if you'd like to also open a checking account or at least have a debit card option.

CIBC Bank USA is the US division of the Toronto-based bank Canadian Imperial Bank of Commerce, and also lets you open checking and money market accounts if you live in Illinois, Michigan, Missouri, and Wisconsin. You may like the CIBC Agility Account if you have at least $1,000 for a minimum opening deposit. 

CIT Bank, LendingClub, and TAB Bank also have a variety of online bank accounts.

The Savings Connect Account requires a minimum opening deposit of $100 — you'll need to open a CIT Bank checking account to qualify for this savings account, though. 

If you're looking for a high-yield savings account with a low minimum opening deposit you might consider exploring the TAB High-Yield Savings Account. This account pays a high interest rate, and you can open an account with $0.

Lastly, you may like the LendingClub High-Yield Savings Account if you have at least $100 for an initial deposit.