The best savings interest rates can mean the difference between earning $200 or $10 in a year. Annual percentage yields, or APYs, at the best savings accounts are significantly higher than the national average of 0.09%, so you can grow your money faster without much effort on your part. With a rate of 2% APY, Best Basic Savings Rates. Leaving money in a regular bank account will usually get you a terrible interest rate, currently close to 0%. With a little research, you can find accounts that offer competitive rates. These are all ordinary savings accounts and are FDIC insured up to $250,000. They do not have any requirements to earn these rates. UFB Direct has the highest-yielding savings account of any bank on this list, though that’s subject to change at any moment, of course. There’s just one catch: You need to maintain a balance of at least $10,000 to earn UFB Direct’s advertised 1.70% APY.