What to Know About High-Yield Savings Accounts On the surface, savings accounts seem simple, but there are several factors that you need to pay attention to when picking a savings account: Interest rates The interest rate is one of the most important aspects of a savings account. It can be...
savings accounts of 0.42% APY.1A high-yield savings account is great because it pays more interest, while still giving you the flexibility to withdraw your money when needed. All savings accounts and rates in our rankings were collected, verified, and available to open as of Dec. 31, 2024....
Our top picks for the best high-yield savings account rates are SoFi Bank (4.00%), Bask Bank (4.50%) and Discover Bank (3.75%), but rates are as high as 4.90% from Veritex Community Bank.See Rates from our featured partner, SoFi Earn roughly 10x the national average interest rate wit...
Bank of America savings account Member FDIC 2.7 APY 0.01 % Min. balance for APY $ 100 Read review Offer details Show moreOn This Page Best high-yield savings accounts Recent news on high-yield savings account rates How to choose an online high-yield savings account What to know about...
The BrioDirect High-Yield Savings Account earns one of the highest rates on the market at 5.00% APY and comes with no monthly fee. The downside is that you’ll need $5,000 to open the account, which is by far the highest minimum deposit on our list. You can find multiple account...
A high-yield savings account will offer a much higher interest rate but will likely be an online-only account. Traditional savings accounts, however, will be with a bank that has physical locations, but will offer very low rates. How often do interest rates change?
A high-yield savings account is a type of savings account that can pay up to 15 times the national average of a standard savings account.1 The competition on savings rates has skyrocketed, creating a new category of high-yield savings accounts. Key Takeaways The interest rates on high-yiel...
Ally Bank also offers a wide variety of products including a checking account, High-Yield CDs, Raise Your Rate CD, and a No Penalty CD. These high-interest savings account rates are current as ofDecember 2024.
A high-yield savings account — sometimes called a high-interest savings account — is atype of savings accountthat pays higher-than-averageinterest rateson deposits. The interest rates on these accounts can be ten times higher than the national average for a regular savings account[1]. ...
While there are a lot of upsides to putting your money into a high-yield savings account, there are a few downsides to consider. Fluctuating rates Interest rates on high-yield savings accounts are variable and can change at any time — a bank may advertise a certain APY when you apply, ...