The average savings account rate is a benchmark for the overall interest-rate environment, but it’s not a rate you should settle for. Rather, aim for an annual percentage yield (APY) many times the national average, such as those offered by high-yield savings accounts. It’s easy to find a top high-yield savings account that offers a competitive return with a low minimum balance requirement. National average savings account interest rates Many of the best online banks have savings interest rates higher than the national average savings account interest rates. The higher the rate, the more interest you’ll earn on your savings. The national average savings account yield is 0.58% APY, according to Bankrate’s survey of institutions as of May 05, 2026. And the best high-yield savings accounts are paying around 4% APY. How Bankrate calculates the national average Bankrate surveys more than 500 banks and credit unions weekly to generate the national averages.…