Online high-yield savings accounts continue to offer rates above 4.5% APY even after Federal Reserve rate cuts, as banks compete aggressively for deposits amid commercial real estate loan concerns.
Best Rates
Marcus by Goldman Sachs, Ally Bank, and Wealthfront are all offering 4.5-4.75% APY with no minimums. These rates significantly beat the national savings average of 0.5% at traditional banks.
Why Rates Remain High
Online banks need deposits to offset potential CRE loan losses. Competition from Treasury bills yielding 4%+ also keeps savings rates elevated to prevent deposit flight.
- Top HYSAs paying 4.5-4.75% APY
- National average: only 0.5%
- No minimums at major online banks
- Competition keeping rates elevated
