Rates Are Falling, but I'm Still Earning 4% on My Savings -- Here's How

This week, the Fed cut interest rates by 0.25% -- dropping the benchmark rate to its lowest level in three years.

If you're holding cash in a high-yield savings account (HYSA) or considering CDs, the ripple effects are coming. Banks will likely start trimming APYs across the board -- and experts expect more cuts into 2026.

But here's the good news: you can still earn over 4.00% right now if you act fast.

My team and I track interest rates daily (nerd alert), and I've tested dozens of accounts myself. Some are still offering 4.00%+ yields, and a few CDs will let you lock in great rates into late next year.

Why I'm not panicking about the rate cuts

On Oct. 29, the Federal Reserve officially lowered the federal funds rate. This benchmark influences everything from credit cards to savings accounts.

While no clear hints were made about what the next meeting in December will bring, the majority of interest rate traders are betting that more cuts are coming.

But a few things to keep in mind:

• A lower Fed rate doesn't instantly kill your savings rate.
• Some banks lag behind (you can still find HYSAs offering over 4.00% today).
• CDs let you lock in a fixed APY, shielding your money from future drops.

Personally, I'm currently earning 4.00% APY on my high-yield savings account. Even if rates drop another full percentage point (or two) over the next year, I'll still be miles ahead of the national average.

To put it in perspective: The national average savings account pays just 0.40% APY right now. So even with a rate cut or two, I'm still crushing that baseline.

Accounts still paying 4.00% or more

Right now, a handful of online banks are keeping their APYs elevated. Here's a quick look at where you can still earn over 4.00% APY:

• LendingClub LevelUp Savings
• Western Alliance Bank High-Yield Savings Premier
• Axos ONE®
• EverBank Performance℠ Savings

Important: All rates are subject to change, and some require direct deposit or balance minimums to qualify. Compare our full list of today's top high-yield savings accounts here.

If you're sitting on a chunk of money you won't need for 6-12 months, a CD is worth considering.

While you won't be able to withdraw your funds (without a penalty fee), you can lock in today's current rate and preserve it well into 2026, or longer.

How to use both HYSAs and CDs together

You don't have to pick one or the other. A combo strategy can work even better.

Here's how it typically breaks down:

• Immediate needs and emergency cash: For anything short-term or money you might need to grab anytime, an HYSA is the best savings spot. You'll earn great interest and keep full liquidity.
• Short-term money goals (1-3 years): For money you're okay leaving put for a specific goal -- like a wedding, vacation, or big buy in a couple years -- a CD can be a better fit. You'll lock in a higher fixed rate and avoid the risk of falling APYs.

Using both gives you flexibility and a shot at higher returns. You can keep your day-to-day savings liquid in an HYSA while parking extra cash in a CD for better yield.

Some savers even build a CD ladder (opening multiple CDs with staggered maturity dates) so different lots of money become available at different dates.

The good times aren't over -- if you know where to look

We've had a fantastic run the past few years -- it's been a golden era for savers.

And while the Fed's recent rate cut signals a shift, the party isn't over just yet.

The key now is staying proactive. Keep shopping for the best rates and jump on high APYs when you see them.

Check out all our favorite CD offers before rates drop further.