High-Yield Savings Accounts Offer Up to 4.3% APY Despite Ongoing Rate Cuts

The search for competitive returns on liquid cash remains challenging, but several high-yield savings accounts are still delivering yields far above the national average. As of December 22, 2025, the highest annual percentage yield (APY) available from the verified institutions monitored for this report is 4.3% APY, offered by SoFi Bank, N.A.

Rates Stay Elevated Even After Multiple Fed Cuts

The Federal Reserve reduced the federal funds rate three times in 2024 and repeated the same number of cuts in 2025. These actions have pushed deposit rates lower across most product categories. Even so, high-yield savings accounts continue to outpace traditional savings accounts, many of which offer rates well under one percent.

Market observers expect additional monetary easing in the months ahead. If that outlook proves accurate, today’s top savings rates may represent a closing window for savers who wish to lock in higher yields before a broader decline.

Current Top Offer: SoFi Bank, N.A.

SoFi’s headline rate of 4.3% APY consists of a base yield of 3.60% plus a 0.70% promotional boost available for up to six months. To qualify, customers must open a new SoFi Checking & Savings account and enroll in the SoFi Plus program by January 31, 2026. The APY is variable and subject to change at the bank’s discretion. SoFi Bank, N.A. is a member of the Federal Deposit Insurance Corporation (FDIC), meaning deposits are insured up to applicable limits.

Why Online Banks Dominate the Leaderboard

Most high-yield savings offers originate from online-only institutions. By operating without extensive branch networks, these banks maintain lower overhead and can pass a portion of that savings to customers through higher rates and reduced fees. Traditional brick-and-mortar institutions, burdened by higher operating costs, generally lag behind in published APYs.

National Averages Remain Low

Despite elevated promotional offers, average returns on consumer deposit products remain modest. According to the Federal Deposit Insurance Corporation, the typical savings account yields just 0.39%, while the average one-year certificate of deposit offers 1.63%. The spread between those figures and the best available rates underscores the value of shopping around before committing funds.

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Factors to Review Before Opening an Account

Interest rate alone should not determine where you place savings. Savers are encouraged to examine the following elements when comparing accounts:

• Minimum balance requirements: Some institutions stipulate a minimum daily or monthly balance to earn the advertised APY or to avoid maintenance fees.
• Fee structure: Monthly service charges, excess withdrawal fees, or paper statement fees can erode earnings.
• Access options: Review ATM networks, external transfer limits, and any branch availability if in-person service is important.
• Digital tools: Mobile check deposit, budgeting features, and real-time alerts can enhance account management.
• Customer support: Availability of live phone assistance, chat functions, and extended service hours may influence overall satisfaction.
• Institutional stability: Confirm that the bank or credit union is financially sound and federally insured. Accounts at banks are covered by the FDIC, while credit union deposits fall under the National Credit Union Administration (NCUA).

Preparing for Possible Future Declines

With additional rate cuts anticipated, savers may wish to act promptly to secure currently available yields. While high-yield savings accounts provide daily liquidity and deposit insurance, rates are variable and can adjust downward. Comparing multiple offers and confirming all account terms can help maximize returns while preserving flexibility.

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