Inquiry concerning the common rate of return on savings deposits.
Looking to maximize your savings? The national average savings account rate may serve as a general benchmark, but it's not the best you can get. Target a higher annual percentage yield (APY) instead, like the ones supplied by high-yield savings accounts. Finding a suitable high-yield account is a breeze, thanks to the numerous options with low minimum balance requirements.
Many of the top online banks boast savings interest rates well above the national average. The more substantial the rate, the more interest you'll accrue on your savings. As of May 05, 2025, our survey found the national average savings account yield at 0.59% APY[1]. On the other hand, the best high-yield savings accounts are dishing out returns of up to 4% APY or more[1].
How we calculate the national average
We survey approximately 500 banks and credit unions each week to generate these national averages. The survey comprises broadly accessible institutions with high yields, as well as some of the nation's biggest banks[1].
Interest rates for linked checking and savings
Pairing your savings account with a checking account is one approach to earn a higher yield at some banks. This is often referred to as a relationship rate and is more prevalent amongst brick-and-mortar banks.
Take U.S. Bank, for example. One method to secure a higher APY includes coupling a qualifying checking account with a Bank Smartly savings account. The APY you'll earn depends on how much money you keep with the bank:
- With the standard APY, Bank Smartly savings account offers 0.05% APY on any balance[1].
- If you have another qualifying U.S. Bank account and maintain $5,000 or less across accounts, you'll earn 1% APY[1].
- With at least $25,000 in combined balances across accounts, you'll secure 3% APY or more[1].
However, you'll usually discover higher APYs at online banks, with lower minimum requirements to open the account and earn the high rate. Many online banks have minimum opening requirements of $100 or less and provide competitive rates on all balances[1].
In conclusion
Don't limit your search for a high-yield savings account to traditional banks. Comparing online banks to larger banks can lead to finding options with lower minimum balances, without monthly fees, and higher APYs on all balances[1]. In many instances, these savings account interest rates will surpass what you'd secure from a savings account at a brick-and-mortar bank, even with a relationship rate[1].
Take the national average savings rate as a measuring stick. You should be able to effortlessly find a bank offering an APY significantly higher than the national average[1]. Compare the APY at big banks to the yield at online banks to see the impact of higher-interest earnings[1]. The compounding effect helps your interest earn interest over time.
[1] Source: Our data as of May 05, 2025, updated weekly by our editorial team. Rates may have changed or vary by region for certain products.[2] https://google.com/search?q=national+average+savings+account+APY+2025[3] https://google.com/search?q=Openbank+savings+APY+2025[4] https://google.com/search?q=BrioDirect+savings+APY+2025[5] https://google.com/search?q=High+yield+savings+account+rates+2025
- To maximize your savings, target a higher annual percentage yield (APY) provided by high-yield savings accounts, as opposed to relying on the national average savings account rate as a benchmark.
- When selecting a high-yield savings account, consider online banks, as they often offer rates well above the national average and have lower minimum balance requirements.
- Comparing the APY at big banks to the yield at online banks can help you find options with higher-interest earnings, surpassing what you'd secure from a savings account at a brick-and-mortar bank, even with a relationship rate.
- For personal-finance enthusiasts and businesses looking to increase their savings, it's crucial to consider various finance options, including high-yield savings accounts, to optimize their average savings rates (APY) and achieve their financial goals.
