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It’s usually a wise idea to save money now for expenses you may face in the future. After all, you never know when a financial emergency might happen. And when one does, you’ll likely want a financial safety net to fall back on.
“Things are going to happen,” says William Thompson, CFP and financial planner at Valor Wealth Partners, LLC. “Whether it’s job loss, an appliance needs replacing or the car breaks down, you need to have funds that can be tapped into quickly to respond to these issues without having to use high-interest credit cards.”
If you’re looking for a safe place to store your emergency fund, a savings account is a strong bet. Not only are these accounts safe, but they offer interest that could give your savings a boost — meaning you’ll be more prepared for the next rainy day.
How much interest you can earn, however, depends on where savings rates currently stand.
What are today’s savings interest rates?
The national average savings account interest rate is 0.39% as of January 2, 2026, according to the latest numbers available from the FDIC. You can earn exponentially more than that by opening a high-yield savings account, however. Bankrate reports that top high-yield savings account rates for January 2026 are between 3.75% and 4.20%. And if you shop around, you may find an account that offers an even higher rate than that.
Explore today’s rates here to find the account that will earn you the most!
How to get a good savings account rate
Here’s how you can secure the best rate available for your savings balance today.
Choose a high-yield savings account
When it comes to earning as much interest as possible, high-yield savings accounts are the clear winner. They may offer rates up to 11 times higher than regular savings accounts, which can add up fast.
For example, let’s say you deposit $1,000 into a savings account at 0.25%. After 12 months, you’ll have earned only $2.50 in interest. But put that money into a high-yield account at 4.85%, and you’d earn $48.49 over the same period. Plus, since interest compounds, this difference can really balloon over time.
Check out today’s best savings account rates here to get started.
Look at online banks
Many of today’s top high-yield savings accounts are offered by online banks. These banks have fewer overhead costs than brick-and-mortar banks since they don’t have any physical locations. They pass those savings on to you by offering high interest rates and other perks, such as low or no fees.
“For anyone that thinks they don’t have enough to save, many top accounts typically start with a $1 minimum, which is not a high bar to meet. Often they also don’t have any monthly fees, so there should not be any serious obstacles, even if someone were only looking to save less than $100 a month in an online savings account,” says Shane Cummings, CFP, CEPA, AIF, wealth advisor and director of technology/cybersecurity at Halbert Hargrove.
Plus, online accounts are quick to set up and easy to use.
“The account opening process for most of [these] banks is also very streamlined and can be done online in a matter of minutes, which is much better than walking into a bank branch and going through a much slower process in person,” says Cummings.
Compare different accounts
High-yield savings accounts offered by online banks are your best bet for obtaining a great interest rate. But there’s plenty of variation among these options. So take the time to compare products, noting not just interest rates but also things like fees that could eat into your earnings.
It will take longer than choosing the first account you come across, but once that initial research is done, you can sit back and watch your savings grow knowing you’re getting the most you can for your money.
Find the right high-yield account for you by comparing your options online now!
The bottom line
No matter where you are in your financial journey, a savings account is a must. Not only is it a wise financial move, but you owe it to yourself to maximize your savings by getting the highest rate possible. That starts with knowing today’s average rates, choosing a high-yield savings account with an online bank and researching your options. By doing this, you can rest easier knowing you’re better prepared to make the most of the money in your savings and better weather any storms that may come.
