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Traditional savings accounts often have lower interest rates, while high-yield savings accounts (HYSAs) — offered by many digital and online-only banks — can pay 10 to 20 times more. These ...
Let’s say that you set aside $10,000 in a high-yield savings account that earns 4.50% APY. You’ll earn about $450 in guaranteed interest over the first year while keeping your money protected.
High-yield savings account. Traditional savings account. Interest rates. High rates of return on your savings balance — up to 10 times that of a traditional savings account — to grow your ...
Investing. Minimal risk. Savings account balances have no risk of declining. ... high-yield savings accounts in place of traditional savings accounts, which pay an average of 10 times more ...
Although many big, traditional banks offer savings accounts with paltry interest rates as low as 0.01 percent, you can find accounts with rates well above 4 percent, mostly at online-only banks ...
A high-yield savings account can earn you significantly more interest than a traditional savings account, with digital banks and online accounts offering the strongest rates, passing along ...