Top Savings Accounts Offer Rates Up to 5% Amid Economic Uncertainty

NEW YORK, NY — As of June 16, 2025, several high-yield savings accounts in the U.S. are offering rates up to 5% APY. This surge in interest rates comes amid rising inflation and a paused monetary policy, suggesting savings account yields may remain stable for the foreseeable future.

With inflation creeping back, the Federal Reserve is unlikely to implement further rate cuts, which historically leads to financial institutions adjusting their interest rates. Currently, the national average savings rate is just 0.41%, significantly lower than the rates offered by leading banks, some exceeding 4%.

According to Glen Luke Flanagan, an editor with Fortune’s personal finance team, consumers should look into high-yield savings accounts as they generally provide better rates than traditional savings accounts. “High-yield accounts can offer rates 10 to 20 times higher than conventional accounts, which typically sit around the national average,” he explained.

Many high-yield savings accounts have no monthly maintenance fees and often no minimum balance requirements, making them suitable for both emergency funds and short-term saving goals.

As the economic landscape shifts, banks are being cautious in their interest rate adjustments. Institutions usually follow closely after Federal Reserve meetings, which occur approximately eight times a year. The Fed left its key interest rate unchanged since December 2024, and the most recent meetings have indicated that cuts are not expected soon.

Fortune has partnered with banking experts at Curinos to provide insights into the highest savings account rates currently available. As of June 17, 2025, some prominent rates include Discover, which offers an impressive 5% APY.

While traditional accounts often provide physical branch access, high-yield accounts are typically offered by online banks which can pass on their reduced operating costs to consumers through higher interest rates. Consumers are advised to access their accounts online, as many institutions place limits on transactions.

Ultimately, switching to a high-yield savings account could be beneficial for those looking to maximize returns in a fluctuating economic environment. However, potential account holders should consider the accessibility of their funds, as some banks may cap withdrawals at six per month.