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The best high-yield savings accounts require no minimum balances to earn high rates of interest. Variable APY. APYs can be fixed or variable , depending on the type of deposit account.
The takeaway. Keeping your money in a high-yield account savings account is a small but important way to make sure your funds are safe, accessible, and can earn a strong interest rate.
High APY: The annual percentage yield (APY) of an account is its rate of return, factoring in the effect of compound interest. The higher the APY , the more interest you’ll earn on your money.
Dig deeper: High-yield savings account vs. CD: How they differ when saving money Earn up to 4.00% APY on savings and 0.50% APY on checking $0 monthly fees | 55,000+ fee-free ATMs
Offering higher interest rates that can pay out up to 10 times the 0.42% national average of a traditional savings account, a high-interest savings account is an ideal way to grow your idle cash ...
Competitive savings account rates. The best widely available high-yield savings accounts currently earn an APY of around 4.60 percent. An amount of $100,000 in an account earning this rate will ...
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