The best high-yield savings accounts offer annual percentage yields (APYs) that are well above average. Many of the top rates available on November 3, 2025 are above 4.00%, and one or two are still around 5.00%.
Inflation rates have been edging higher and the U.S. economic outlook is cloudy. That means the Federal Reserve has held off on rate cuts for the past several months—but finally proceeded with the first rate cut of the year at its September meeting, citing slowing job gains. While savings account APYs remained relatively stable during the first part of the year, they may well dip in light of the cut, especially if financial institutions anticipate additional cuts when the Fed meets in October and December.
Whether you’re looking for a better return on your savings, or just want to open a new account for a new financial goal, Fortune has partnered with the financial industry consultants at Curinos to give you an accurate look at the highest savings account rates available on November 3, 2025.
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The best savings account rates on November 3, 2025: Earn up to 5.00% APY
The best high-yield savings account rate of 5.00% can be found at Varo Bank. Fortune monitors the top rates offered by leading U.S. financial institutions to help readers obtain the best possible return on their savings. Here are the highest savings account rates:
FDIC average national deposit rates January 2020 to present
Choosing a high-yield savings account guarantees that you can beat the low average rates offered by most savings institutions in the U.S. The national average savings rate right now is 0.41%%. This is down from 0.47% in March 2024, months before the Fed reduced interest rates in late 2024.
High-yield savings account news in 2025
The Fed’s decision to lower interest rates last year had an immediate impact on savings accounts. Average savings rates tend to follow the lead of the federal funds rate: When the Fed raises its benchmark rate, banks generally raise APYs on savings accounts to remain competitive. Conversely, when the central bank cuts rates, savings account yields decline.
Just keep in mind that while this correlation is true for average rates, individual banks decide to raise or lower their savings account APYs based on a variety of factors beyond just Fed rates. These include their own financial goals, promotions for attracting new customers, and other market conditions. Beware, banks can change your savings account APY at any time, for any reason.
The Fed cut the federal funds rate three times in Q4 of 2024, reducing it to 4.25%-4.50%. Then, at its Sept. 16-17, 2025 meeting, the central bank reduced the fed funds rate further to 4.00%-4.25%, where it stands now. Banks may have incentive to reduce their APYs in light of this and the possibility of additional cuts at the Fed’s remaining two meetings later this year.
Why should you choose a high-yield savings account?
To be clear, there’s no such thing as a special class of bank accounts called “high-yield savings accounts.” There’s simply a group of U.S. financial institutions that tend to offer savings account rates that are much higher than the industry average. Financial experts call them high-yield savings accounts.
For example, while the average savings rate in the U.S. is 0.41%%, many high-yield savings accounts offer rates above 4.00%—that’s something like 10 times the average rate.
Banks that offer conventional savings accounts with lower rates tend to have bricks-and-mortar branch networks and offer a full suite of deposit and lending products. Meanwhile, institutions that offer high-yield savings accounts are typically online banks with a very limited menu of other banking products and no access to physical branches.
People who want the highest possible returns on their savings should opt for a high-yield savings account. They often have no minimum balance requirements or monthly fees, making them an ideal choice for your emergency fund or short-term financial goals. Online banks are insured by the Federal Deposit Insurance Corp. (FDIC), providing the same protection as conventional banks.
Before choosing a savings account, consider the following factors:
- Interest rates: Look for competitive APYs to maximize your earnings.
- Low or no minimums: Many high-yield accounts have no minimum balance requirements.
- No monthly fees: Avoid accounts with monthly maintenance fees that can eat into your savings.
- Accessibility of funds: Ensure you can easily withdraw or transfer money when needed—some banks have withdrawal limits and charge fees for foreign ATMs.
- Security and insurance: Verify that the account is FDIC-insured.
No matter what type of savings account you hold, you can expect to pay taxes on any interest you earn.
Frequently asked questions
How often do APYs on high-yield savings accounts change?
There’s no set answer for how often the rate on your high-yield savings account may change. In short, your bank or credit union can change it at their discretion. However, it’s typically a useful rule of thumb that when the Federal Reserve raises or lowers its benchmark federal funds rate, financial institutions are likely to increase or decrease the rates they offer consumers accordingly.
Should I switch banks if I find a savings account with a higher rate?
The brief answer is “maybe.” There isn’t a limit to the number of savings accounts you can have at different institutions. But, keep in mind there may be a minimum deposit requirement to earn an account’s max APY. You’ll also want to evaluate how dramatic the difference in rate is and whether the increased interest you’d earn is worth the effort to make the change.
For example, depositing $1,000 in an account with a 4% APY and leaving it there for a year without additional deposits might earn you approximately $39.98 in interest. If the same account had a 4.5% APY, you might earn $44.98 under the same circumstances.
How easy is it to withdraw money from a HYSA?
This can vary by institution. But in general, many banks will let you link external accounts digitally, so initiating a transfer should be something you can do with a few clicks. Note that while it’s not a federal restriction any longer, a lot of institutions still enforce the cap of six withdrawals from your savings account per statement cycle.
Should I choose an online-only bank for my HYSA?
Because they’re able to keep costs associated with brick-and-mortar locations down, an online-only bank might be able to offer a higher APY than you’re likely to find elsewhere. For that reason, they’re well worth considering when you’re shopping around for a high-yield savings account.
Can I lose money in a high-yield savings account?
Before you open an account, make sure your savings will be insured by the Federal Deposit Insurance Corporation (FDIC) if the account is with a bank or the National Credit Union Administration (NCUA) if the account is at a credit union. That should protect you against losing money.
It’s also worth noting that money in a savings account is not at risk of a loss in the same way as money invested in the stock market. However, your money could still lose purchasing power if inflation outpaces your account’s APY.
Series on daily savings rates created by former Fortune editor Cassie Bottorff. This edition has been updated by Editor, Evergreen Content Glen Luke Flanagan.
