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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.
Savings interest rates today: Best accounts still paying up to 5.05% APY after quarter-point Fed cut — Dec. 19, 2024
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.
An account with $10,000 that pays 0.58 percent APY earns about $58 of interest in a year. In a high-yield savings account or money market account paying 5 percent APY, you’d earn around slightly ...
These spots pay up to 5.25% APY — Oct. 21, 2024 ... much stronger job growth than projected and a drop in the unemployment rate. Employers added 254,000 new jobs to payrolls in September, more ...
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.
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.