What is the average interest rate for savings accounts?
Comparing savings rates can ensure you get the best return on your savings.
Karen Bennett is a senior consumer banking reporter at Bankrate. Her expertise lies in finding the best savings accounts, checking accounts and CDs, as well as all things personal finance. She also writes about home lending, including mortgages, refinancing and home equity. She’s been a reporter at Bankrate since 2021, and she holds a master’s degree in Journalism and a bachelor’s degree in English.
Karen’s writing experience spans topics including bank accounts, saving money, budgeting, and credit cards, and homeownership. She also spent time as a writer of product reviews and a reporter for local newspapers in Chicago, Milwaukee and Washington, D.C. In addition, she worked for over a decade as a writer and product manager for CoolSavings, a website devoted to saving money on groceries, travel and other products.
Karen stays on top of the latest in banking and mortgages. Topics she writes about for Bankrate include how to choose the best high-yield savings account, ways to protect yourself from bank fraud and how to lower your mortgage payment.
On the personal finance front, Karen has covered topics such as progress for women in banking.
When she’s not working, Karen enjoys working on her novel, as well as reading, cooking, traveling and spending time with her family.
The pillars of smart money management include having an emergency fund in a high-yield savings account, paying down debt, following a budget and living within your means.
— Karen Bennett
Comparing savings rates can ensure you get the best return on your savings.
Stay informed on today's best CD rates trending above 4 percent APY. Bankrate's experts compare CD offers from thousands of financial institutions, empowering you to make the right decisions for your financial goals.
To find the best high interest rate for you, browse Bankrate's list of the best high-yield savings accounts from federally insured, highly rated institutions.
Discover a wide range of competitive money market rates and other savings options from Bankrate. Compare and open one today to maximize your savings potential.
Bankrate reviewed thousands of data points to determine the nation’s best banks. We gave the most weight to savings interest rates and low-cost or free checking accounts. Here are our picks for the best online banks.
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