National Average vs. Best Available Rates
FDIC data shows the national savings average at roughly 0.45% APY as of June 2025, dragged down by mega-banks paying 0.01%–0.10%. Online banks routinely pay 10x the average because they have no branch overhead to fund.
HYSA rate tiers and $30K annual earnings — June 2025
| Rate Tier | APY Range | Who Offers | $30K Annual |
|---|---|---|---|
| Bottom | 0.01%–0.10% | Chase, Wells, BofA | $3–$30 |
| Average | 0.45% | FDIC national composite | $135 |
| Good | 3.50%–4.25% | Mid-tier online banks | $1,050–$1,275 |
| Excellent | 4.25%–5.25% | UFB, SoFi, Marcus, Ally | $1,275–$1,575 |
How Rates Have Moved Since 2020
HYSA rates were near zero from 2020 to early 2022. The Fed rate-hike cycle pushed top HYSAs above 5% by late 2023. As the Fed eased in 2024 rates moderated to the current 4.25%–5.25% range — still historically very attractive.
Some banks advertise 6%+ APY for 90 days then drop to 1.50%. Always check the post-promotional rate before opening. Stable banks like Ally and Marcus maintain competitive rates long-term without bait-and-switch tactics.
Fed rate vs. HYSA rate trajectory 2021–2025
| Period | Fed Funds Rate | Top HYSA APY | National Avg |
|---|---|---|---|
| Jan 2021 | 0.00%–0.25% | 0.55% | 0.07% |
| Jan 2023 | 4.25%–4.50% | 4.15% | 0.30% |
| Jan 2024 | 5.25%–5.50% | 5.15% | 0.46% |
| Jun 2025 | 4.25%–4.50% | 5.25% | 0.45% |
Why You Should Switch Now If Your Rate Is Under 4%
If your current savings APY is below 4.00% in 2025 you are leaving $500–$1,500+ per year on the table depending on your balance. The 30-minute process to open a top HYSA and initiate a transfer pays for itself hundreds of times over.
- No branches = lower costs passed to depositors
- Online banks adjust rates faster when Fed raises
- Competition from fintechs keeps online rates elevated
- Stable institutions maintain competitive rates for months after Fed changes
See How Your Rate Compares
Enter your current APY and balance to calculate your annual opportunity cost vs. top banks.