Most traditional brick-and-mortar banks offer paltry interest rates. That's why a high-yield savings account is an obvious choice. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
Interest rates have come down recently, but does that mean you should keep your savings in an account earning practically nothing? Absolutely not. The truth is, high-yield savings accounts still offer 8x or more than the national average APY of traditional savings accounts — and that could make a big difference in how fast your savings grow. With one of these high-yield accounts, you could be earning hundreds of dollars more in interest each year.
In addition to an excellent APY, all of these savings account picks also offer: |
No account fees to keep your account open Low minimum deposit requirements, including a few with a $0 minimum! FDIC insurance covering up to $250,000 (and, in one case, much more!) per eligible account |
Switching to a high-yield account is easier than you think — and it could pay off in a big way. You could get a new account, transfer money, and start earning interest today. |
Here’s to smarter saving, P.S. You should know that we are committed to helping you improve your finances. To that end, if we wouldn’t recommend a financial product to a close family member, we wouldn’t recommend it to you on The Ascent either. |
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