Your savings strategy is a key part of building a solid financial future. After all, your savings are what comes in handy when you have an unexpected bill to pay, a big purchase to make or any other number of expenses to cover. As such, it's worth taking the time and figuring out exactly how much you can earn in interest on your savings. 

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"Things are going to happen," says William Thompson, CFP and financial planner at Valor Wealth Partners, LLC. "Whether it's job loss, an appliance needs replacing or the car breaks down, you need to have funds that can be tapped into quickly to respond to these issues without having to use high-interest credit cards."

A savings account is a safe place to store your money for a rainy day or an unforeseen emergency, like a medical issue or urgent vehicle repair. And while your money lies in wait, interest grows your nest egg.

How much interest you can earn, however, depends on where savings rates currently stand.

What are today's savings interest rates?

The national average savings account interest rate is 0.6% as of November 1, 2023, the latest numbers available from Bankrate. You can earn exponentially more than that by opening a high-yield savings account, however. Bankrate reports that top high-yield savings account rates for November 2023 are between 4.25% and 5.27%. And if you shop around, you may find an account that offers an even higher rate than that.

Explore today's rates here to find the account that will earn you the most!