Today’s high income savings rate: June 16, 2025

According to the latest data from the Bureau of Labor Statistics, annual inflation rate rose to just 2.4% in May. This makes it more likely that the Federal Reserve will refrain from cutting benchmark federal funding rates during meetings later this week.

Bankrates have seen a slight decline in annual percentage yields (APY) over the past month, but yields remain strong as federal funding rates continue to rise. If the Fed continues to hold interest rates, that trend is expected to be retained.

This is what is happening in today’s market as it is related to high-yield savings accounts (HYSAs).

What is the best savings account fee today?

As of mid-June, multiple banks remained five-way tie for today’s highest yield, which remains at APY of 4.30%. This is good news for Savers as it gives consumers a wide range of options. Especially since the top five banks all have different minimum deposit requirements.

Note: Annual yield (APY) is as of June 16, 2025. The APY for some products may vary by region.

Latest Federal Reserve News

Experts expect the Fed to stabilize interest rates as inflation rose in May and President Donald Trump’s tariffs threaten to further push it. Ultimately, the reason why central banks increased interest rates in the first place was to tame inflation that was runaway.

With stable retention, the US Central Bank will give more time to assess whether previous hikes have the intended effect, without risking unnecessary economic slowdowns. Many economists believe that if inflation remains sticky or is rising even further, the Fed could even delay future interest rate cuts in the second half of 2025.

“After a year’s decline, 2025 is becoming more stable. As the Fed has suspended rate cuts, savings are now in a holding pattern.

-Cettin DuransayUS CEO | Raisins

For consumers and savers, this means that interest rates on savings accounts such as HYSA can remain attractive for a little longer. Hysa Apys is variable, but can change at any time, but federal funding growth tends to support higher APYs.

Is it still a good time to open a high-yield savings account?

yes. For now, a high-yield savings account remains a solid option to earn more in cash. With the Fed’s interest rates still stable, APY continues to rise, offering savers the opportunity to lock in stronger returns than they did a few years ago.

However, these rates will never stick. If the Fed resumes rate cuts later this year, banks could begin to cut yields. So, if you are thinking of moving your money to HYSA, act faster than afterwards will help you make the most of today’s higher returns.

Other high yield options that can be considered during this period include Money Market Account (MMA) and Certificate of Deposit (CD). Fixed interest rates guarantee high yields during the CD period, especially when opening a multi-year CD, such as a five-year CD.

Conclusion

Inflation remains concerned, and the Fed is likely to stabilize interest rates, with high-yield savings accounts continuing to offer attractive returns. These rates won’t last forever, but opening an account with robust yields will help you take advantage of the market before it changes.