Bank-Breaking Strategies Inside Guide to High-Yield Savings Accounts
How High-Yield Savings Accounts Work
The primary advantage of high-yield savings accounts is their competitive interest rates, which can be several times higher than those of regular savings accounts. For example, while a traditional savings account might offer an annual percentage yield (APY) of around 0.01% to 0.05%, high-yield accounts can offer rates ranging from 0.40% to 0.60% or more1. This means that your money works harder for you, earning more interest over the same period.