High-yield savings rates today: June 23, 2025 | Best APY remains 4.30% after Fed’s latest rate decision
Key takeaways
- The Federal Reserve chose to hold its benchmark rate steady last week, which could spell continued stability for high-yield savings account (HYSA) rates.
- Savers can choose from a handful of HYSAs currently offering the top rate of 4.30% APY.
- Although higher APYs exist, the ones on Bankrate’s editorial list are available broadly in the U.S. and have been reviewed by our editorial team.
Last week, Federal Reserve officials decided to hold interest rates steady, keeping the federal funds rate at a target range of 4.25-4.5 percent, which is the highest since 2007. Interest rates on loans and deposit accounts tend to move in response to this key rate, so while an elevated rate may cause headaches for borrowers, anyone with a high-yield savings account is enjoying an attractive, inflation-beating return.
The Fed’s current holding pattern has spanned four rate-setting meetings in 2025, after officials cut the rate three times in late 2024. High-yield savings account rates decreased due to those rate cuts, but overall, they’ve remained somewhat stable in recent months. The best APY was 4.75 percent at the start of 2025, while now it’s a bit lower at 4.30 percent.
As long as competitive savings yields continue to outpace inflation, it’s a great time for savers. And even if there’s an environment in the future where inflation is higher than competitive yields, you still want to make sure you’re doing your best to both keep up with inflation and have the safety of FDIC insurance coverage in case of a bank failure. And of course, make sure your money at that FDIC bank is within the FDIC’s limits and guidelines.— Matthew Goldberg, senior consumer banking reporter | Bankrate
Here’s what’s going on in today’s market as it pertains to high-yield savings accounts.
What are today’s best savings account rates?
As of late, several banks are tied for the leading high-yield savings account rate, among banks monitored by Bankrate’s editorial staff. (Higher yields may be offered by banks outside of this scope.) As a saver, that gives you multiple options for securing a top-notch rate, each of which requires a different minimum opening deposit.
Find the Best Personal Loan for You
We’re sorry, there are currently no available offers
Try adjusting the filters to see more results
Key takeaways
- A personal loan is money you can borrow to finance large purchases, consolidate debt, invest in yourself or cover emergency expenses.
- Interest rates, monthly payments and repayment terms vary based on creditworthiness, income and other factors.
- Working to improve your credit score and reduce your debt-to-income ratio before applying can help get you the best loan terms.
A personal loan is money borrowed from a lender that can be used for nearly any purpose. Common reasons include paying off debt, financing a large purchase such as a vehicle or a boat, or covering the cost of a major expense like a wedding or a home renovation.
You can get a personal loan from online lenders, banks and credit unions, and the funds are provided in a lump sum. Once you receive the cash, you must make recurring, monthly payments until the debt has been fully repaid.
Home equity loan
A personal loan is money you borrow from a bank or other financial institution with a set repayment period and consistent monthly payments. Most personal loans are unsecured, so you won’t have to put down collateral to borrow the money.
Loan amounts vary widely, typically from around $1,000 to $50,000 or more, and interest rates currently range from about 6 percent to 36 percent. Repayment terms typically range from one to seven years.
If you’re looking to get a personal loan, you’ll have to complete an application and wait for approval — a process that may take anywhere from a few hours to several days. Once you’re approved, the lender will disburse money into your bank account. You will also start to repay the money. Throughout the loan term, your lender will likely report your account activity to the credit bureaus, so making on-time payments is crucial to building a positive credit history.
