With interest rates on a downward trajectory, it is about to get even harder for income investors to find a good yield on their money from savings accounts and term deposits.

But don't worry! That's because there are plenty of ASX dividend shares out there that can help you beat falling interest rates.

Here are three shares that analysts rate as buys right now:

Harvey Norman Holdings Ltd (ASX: HVN)

The first ASX dividend share to look at is retail giant Harvey Norman.

Bell Potter is bullish on the company and believes its valuation is "compelling, particularly given its additional exposure to furniture and land portfolio relative to JBH and WES."

The broker also highlights that it should be "a key beneficiary of RBA rate cuts as housing market returns to a more buoyant phase, aided by rising disposable income and house prices during the rate-cutting cycle and that should buoy consumer sentiment."

Bell Potter is forecasting fully franked dividends of 25.4 cents per share in FY 2025 and then 28.1 cents per share in FY 2026. Based on its current share price of $5.24, this would mean dividend yields of 4.85% and 5.4%, respectively.

The broker has a buy rating and $6.00 price target on its shares.

Nickel Industries Ltd (ASX: NIC)

Another ASX dividend share that has been named as a buy is nickel producer Nickel Industries.

Bell Potter highlights that it is "the only material ASX way to gain exposure to the nickel price, has a growth story, and is diversifying earnings to span Type 1 and Type 2 nickel."

Looking ahead, the broker notes that "given the forecast high production growth and potential for a very large free cash flow uplift in the next 2 years or so, NIC presents a compelling story and appears cheap at current valuation."

The broker is expecting dividends of 4 cents per share in FY 2025 and then 10 cents per share in FY 2026. Based on its current share price of 72.5 cents, this would mean dividend yields of 5.5% and 13.8%, respectively.

Bell Potter has a buy rating and $1.51 price target on its shares.

Telstra Group Ltd (ASX: TLS)

A final ASX dividend share that could help investors beat falling interest rates is Telstra.

Macquarie is positive on the telco giant. Following the release of its Connected Future 30 strategy, the broker notes that Telstra has "multiple cost-out levers & an ability to sustain mobile ARPUs."

In addition, it highlights that "despite execution risks from software-defined networking, ROIC growth and focus on the core competitive advantage in network and connectivity signals operating leverage and momentum."

Macquarie is forecasting fully franked dividends of 19.9 cents per share in FY 2025 and then 22 cents per share in FY 2026. Based on its current share price of $4.83, this equates to dividend yields of 4.1% and 4.5%, respectively.

The broker currently has an outperform rating and $5.28 price target on its shares.