Why Savers Are Quietly Shifting to High-Yield Accounts
How to Choose the Right High-Yield Account
When considering a high-yield savings account, it's essential to evaluate several factors to ensure it meets your financial needs. Start by comparing interest rates across different banks. While the rate is a crucial factor, also consider the account's terms and conditions, such as any fees, withdrawal limits, and requirements for maintaining the high interest rate.
Additionally, ensure that the bank offering the account is FDIC-insured, which protects your deposits up to $250,000 per depositor, per bank2. This provides peace of mind knowing that your savings are secure. You can visit websites of various banks to see these options and find the best fit for your financial goals.