A high-yield savings account is like a normal savings account but offers a higher interest rate, or APY, on your cash. With a higher APY, your money grows faster as it sits in your account., This savings account offers competitive interest rates that vary based on your account balance. Amounts below $250,000 earn 3.90% APY, while rates at or above $250,000 earn 4.10% APY. The account , High-yield savings accounts offer much higher annual percentage yields than traditional saving accounts, sometimes 10 times greater than the national average interest rate. Savings account., The best high-yield savings account rate is 5.00% APY, available from Varo Bank, AdelFi, and Fitness Bank. That's more than 13 times the FDIC's national average for savings accounts of 0.38% APY., A few high-yield savings accounts are still offering around 5% APY. Check out our ranking of the best savings account rates available on June 19, 2025. Take a look at the highest savings account , What Is a High-Yield Savings Account? A high-yield savings account allows you to save money and earn higher-than-average interest on it. While the average savings account has a 0.42% interest rate, per the FDIC, you can expect to earn more with a high-yield savings account—sometimes a lot more, especially with rising interest rates. Many .