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As the Fed rate rises, so do APYs on savings accounts, CDs and money market accounts — with today’s rates on the best high-yield savings accounts topping 4% APY.
Today’s highest savings rates are at FDIC-insured digital banks and online accounts paying out rates of up to 5.50% APY with a $1,000 minimum at Poppy Bank and up to 5.33% APY with no minimums ...
As the Fed rate rises, so do APYs on savings accounts, CDs and money market accounts — with today’s rates on the best high-yield savings accounts topping 4% APY.
Today’s best savings rates are at FDIC-insured digital banks and accounts offering yields of 5.36% APY and higher with a minimum $500 opening deposit at My Banking Direct and Western Alliance ...
This is a reasonable approximation if the compounding is daily. Also, a nominal interest rate and its corresponding APY are very nearly equal when they are small. For example (fixing some large N), a nominal interest rate of 100% would have an APY of approximately 171%, whereas 5% corresponds to 5.12%, and 1% corresponds to 1.005%.
As the Fed rate rises, so do APYs on savings accounts, CDs and money market accounts — with today’s rates on the best high-yield savings accounts topping 4% APY.
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