Savings Rates Competitive with CDs Up to 5.00% APY

Interest rates for high-yield savings accounts and CDs remain competitive despite recent Federal Reserve rate cuts, with some accounts offering up to 4.50% APY. Digital banks often provide the best savings rates due to lower overhead costs, such as Poppy Bank at 4.50% APY and Valley Bank at 4.25% APY. Certificates of deposit (CDs) are also offering attractive rates, with Mountain America Credit Union providing a 5.00% APY for an 18-month term. The average traditional savings account rate is 0.41%, significantly lower than high-yield options. Money market accounts can also yield over 4% APY, with First Foundation Bank offering 4.50% APY. Despite a potential drop in rates, locking in these high yields now could benefit savers looking for stable returns.