Top High-Yield Savings Account Rates for August 31, 2025 (Earn as much as 4.3% APY)

Savings Account Interest Rates Overview

• Current National Average: The national average savings account interest rate is currently at 0.39%, a significant increase from just 0.06% three years ago.
• Top Market Rates: Some high-yield savings accounts are offering rates of 4% APY or higher, with the highest available rate as of August 31, 2025, being 4.30% APY from institutions like EverBank, Western Alliance Bank, and BrioDirect.

Interest Earnings Comparison

• Average vs. High-Yield Accounts: If $1,000 is deposited in a savings account at the average rate of 0.39%, the balance after one year would be $1,003.91, yielding only $3.91 in interest. In contrast, a high-yield account at 4% APY would grow the balance to $1,040.81, resulting in $40.81 in interest.
• Impact of Larger Deposits: For a deposit of $10,000 in a high-yield savings account at 4% APY, the total balance after one year would be $10,408.08, earning $408.08 in interest.

Additional Insights

• Finding Competitive Rates: The article encourages readers to explore various banks to find savings accounts with interest rates of 4% or more.
• Business Savings Accounts: It also highlights the benefits of high-yield savings accounts for businesses, emphasizing features that help manage excess cash while earning interest.
• Rate Negotiation: Generally, negotiating interest rates with banks is not common, but the article provides tips on how to potentially earn more on savings.