Savings interest rates today: Beat the Fed's next move with APYs of up to 5.30% right now — Oct. 7, 2024

Are you letting declining savings rates get you down? Don't — the best high-yield savings accounts are still paying out up to 5.30% APY after the Federal Reserve's first interest rate cut in four years. And that's far higher than what you can earn at your local bank or credit union.

Upgrading from simple savings to a high-yield account is among the best ways to get in front of lower rates and grow your idle cash toward short-term financial goals or a soft-landing emergency fund for a rainy day.