YSK: There are high yield savings accounts paying significantly higher rates than most savings accounts. Why YSK: The national savings account rate is just 0.35% as of February 21, 2023, according to the Federal Deposit Insurance Corporation (FDIC). You can generally find high-yield savings accounts at online banks and credit unions. These financial institutions normally don’t carry the overhead costs or profit-margin requirements of a traditional brick-and-mortar bank, allowing them to pass those savings on to customers through higher rates and lower fees.