Savings rates drop even without Fed cuts. Here’s where you can still earn 4% on your cash

While the Federal Reserve decision to hold off on any interest rate cuts since December is generally good news for savers, some banks have lowered their payouts anyway. On Wednesday, the central bank again opted to hold the benchmark federal funds rate steady in a range between 3.5%-3.75%. That rate typically drives the yield on products from savings accounts to certificates of deposit, from short-term Treasury bills to money market funds. But while fed funds have held steady, at least three high-profile banks recently dropped annual percentage yields (APYs) on their high-yield savings accounts anyway: Capital One Financial , Synchrony Financial and Marcus by Goldman Sachs , BTIG said in a note Friday. They followed a reduction by Ally Financial the week before. "We have not been expecting rate cuts considering that Fed Funds Rate expectations are now flat," BTIG specialty finance analyst Vincent Caintic wrote. "Following Ally's cut last week, we had thought that perhaps this was a signal of modest asset growth. However, bank earnings so far this 1Q26 season have pointed to still robust spending and lending among U.S. consumers, and therefore no letup in growth expectations." That said, two banks have not abandoned their 4% annual percentage yields: Bread Financial and LendingClub . But that may not last long, Caintic said. …