With eight years of experience ... far lower than what the best savings accounts pay. When shopping for a savings account, compare APYs, or annual high percentage yields. More frequent compounding ...

Banks responded by increasing the average savings yield from 0.06% in April 2022 to 0.47% two years later, where it stood for most of the remaining year. These are just averages, though ...

The average savings account now delivers an average rate of just 0.41%, according to the latest government data. That said, ...

Savings rates hit a historic high in 2023 following years of the Fed raising rates, topping out around 5.5% APY. In comparison, between 2014 and 2021, the highest the Fed ever set its rates was 2.5%.

*APYs as of Feb. 7, 2025, based on the banks we track at CNET. Weekly percentage increase/decrease from Jan. 27, 2025, to Feb ...

Unlike many high-yield savings accounts ... which is the rate of return after one year. The chart below shows the APY for each of the best savings accounts in Michigan. It’s important to ...