Below are APYs from six top banks offering a high-yield savings account: Is Now the Time to Open a HYSA? A key feature of most high-yield savings accounts is their variable APY, which means the interest rate can fluctuate with the market. While the last two years have brought much high...
000 for its account—or any other amount the bank prefers. Falling below the minimum requirement could mean being hit with a fee, or could instead mean you won't earn the high-yield interest rate on the account. So be sure the account you choose either has no minimum ongoing balance or...
Both high-yield savings and checking accounts offer relatively easy access to your money. But there's a big difference: Most checking accounts do not earn interest. And when they do, it's usually at a rate lower than even traditional savings accounts. Many people have a checking account for...
If you're trying to decide between a high-yield savings account and a CD, think about your savings goal. CDs usually offer higher interest rates than high-yield savings accounts but require you to lock your money away for a set term, which can range from one month to 60 months. This m...
Its savings account currently earns a 5.35% APY. Is it worth putting money into a high-yield savings account? Yes. With a high-yield savings account, also known as a high-interest savings account, your balance can grow faster over time than it would in an average savings account. This ...
-and-switch’ soon to be lowered. Banks like CFG, Discover, Marcus, Ally and some others have been known to offer competitive interest rates for many years. Their rates will also fluctuate but will likely always be a good rate. See alsoWhat’s The Best Simple High-Yield Savings Account?
To find the best high interest rate for you, browse Bankrate's list of the best high-yield savings accounts from federally insured, highly rated institutions.
Pros and Cons How to Choose a High-Yield Savings Account How to Open a High-Yield Savings Account Alternatives to High-Yield Savings Accounts FAQs As the name suggests, a high-yield savings account is a type of deposit account that earns interest at a significantly higher rate than a tradi...
With a high-yield savings account, you can get a solid interest rate and your money grows even faster thanks to compound interest— which lets you earn interest on interest. The higher your rate, the faster your money grows and the better return you earn on your money. To determine the ...
When saving your hard-earned money, finding the right account is an important step. Ideally, the account you choose should earn interest and offer easy access to your money when it’s needed. Money market and high-yield savings accounts are two account types that may fit the bill. But whic...