This 5% Savings Account Beats 4.2% Inflation—Plus 7 CDs That Do, Too

These high-yield accounts offer competitive returns

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June 18, 2026 7:12pm EDT

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Protect Your Purchasing Power: Top Savings Rates for June 2026

The Federal Reserve held rates steady yesterday, giving savers ample opportunity to fight back against inflation. With the latest inflation reading at a three-year high of 4.20%, leaving cash in a traditional savings account means you’re losing purchasing power faster than you have in years.

The best high-yield savings accounts pay up to 5.00% APY, absolutely crushing the average savings account rate of just 0.38% by more than 13x. Your cash stays safe and liquid while earning returns that are near historic highs. If you don't already have one, opening a high-yield savings account today is an easy way to instantly defend your wealth.

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Outpace inflation and lock in a high rate with a top CD: Prefer to set it and forget it? Savings accounts offer flexibility, but the best CDs offer certainty. Seven CD accounts currently offer APYs above 4.20%, allowing you to push back against inflation with a guaranteed rate for 5 months to 10 years.

Freeze today's 4.16% rate for 365 days: The most competitive 1-year CD rate is well above the national average, and locking in can help mitigate inflation. Bypass the uncertainty of the 2026 market and secure a solid return without making a long-term commitment.

The CD sweet spot: If 6 months feels too short but the current inflation spike makes a long-term bet feel too risky, the best 18-month CDs offer a smart middle ground. The top rate beats inflation and is up 25 basis points from February. Lock in a premium rate today, and adjust your strategy in 2027 as necessary when your CD term is up.

Save money for long-term goals in a multi-year CD: There’s always a chance the Fed could push rates higher to combat sticky inflation, but waiting for the “perfect” peak could mean missing out on today's best offers. The top 2-year CD is at a rate not seen since September, 2025. Snag it now to help you stay ahead of inflation.

Defend your wealth until spring 2030: Short-term rates might grab the headlines, but the best 4-year CDs allow you to lock in a great APY and put your savings on autopilot. Consider pairing long-term CDs with short-term CDs to provide regular access to your cash.

Grow your long-term savings at 4.20% APY: While it's impossible to predict where interest rates will head over the next few years, a leading 5-year CD can provide a reliable anchor for your money.

Save more and stay flexible with a money market account: Money market APYs can change when the Fed makes an adjustment, but with the central bank holding firm for now, the best rates of 4.00% are likely to hold as well. MMAs bridge the gap between savings and checking accounts, offering high yields with the added utility of check-writing privileges.

Earn even better rates with a high-interest checking account: If you already use a debit card regularly, you could earn up to 6.75% APY with the best high-interest checking accounts. These accounts often outperform savings accounts and CDs, as long as you meet monthly requirements.

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This 5% Savings Account Beats 4.2% Inflation—Plus 7 CDs That Do, Too

These high-yield accounts offer competitive returns

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