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This means I’d earn $400 for each $10,000 in this HYSA compared to a single $1 in a 0.01% APY traditional account. Over a five-year period, I’d end up racking up $2,167 in my high-yield ...
However, even with the Fed considering future cuts, high-yield savings accounts are still paying much higher interest rates than traditional savings accounts — we're talking 10 to 20 times more.
Some high-yield savings accounts require a high opening deposit to earn the highest advertised APY. For example, Brio Direct requires a $5,000 minimum balance to earn its high APY. Understand the ...
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 ...
Here’s a closer look at the pros and cons of a high-yield savings account. Advantages of a High-Yield Savings Account. Higher interest rate: ...
Pros and cons of a high-interest savings account Pros. A higher APY: A high-yield savings account is going to have a higher APY than a standard savings account or a checking account. Because of ...
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