High-yield savings accounts earn about 20 times more interest than traditional savings accounts
High-yield savings accounts and standard savings accounts are more similar than they are different. They're both offered by banks, federally regulated, and liquid. The main difference is that high-yield savings accounts earn up to 20 times more interest, with interest rates generally between 1.5% and 2%. That interest rate means high-yield savings are almost always a better choice than traditional savings for money you'll need within the next few years.
High-yield savings accounts and standard savings accounts are more similar than they are different. They're both offered by banks, federally regulated, and liquid. The main difference is that high-yield savings accounts earn up to 20 times more interest, with interest rates generally between 1.5% and 2%. That interest rate means high-yield savings are almost always a better choice than traditional savings for money you'll need within the next few years.
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