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The average savings account interest rate is 0.46% APY (Annual Percentage Yield) in the United States. If you'd like to earn a higher APY, there are high-interest savings accounts that offer more than the national average. Several high-yield savings accounts pay well above 5% APY. One even pays as much as 6.17% APY on balances up to $1,000 if you meet certain membership eligibility requirements.
Nationally Available Savings Rates from Our Partners
| Account | APY (Annual Percentage Yield) | Minimum Balance |
| BrioDirect | 5.35% APY | $0 |
| Customers Bank, powered by Raisin | 5.30% APY | $0 |
| UFB Direct Secure Savings Account | 5.25% APY | $0 |
| Upgrade Premier Savings | 5.07% APY | $1,000 |
| CIT Bank Platinum Savings | 5.05% APY | $5,000 |
| Wealthfront Cash Account | 5.00% APY | $0 |
| 4.75% APY — new users can earn 5.50% (variable) APY for the first three months with a qualifying deposit | $0 | |
| 4.45% APY | $0 | |
| 4.35% APY | $0 |
Full Editorial List of the Best Savings Account Interest Rates
We've rounded up the best savings accounts available today. You'll find options below for the highest rates overall, as well as the best rates available among traditional banks.
- Milli Bank Savings: 5.50% APY on Savings Account and Jars
- BrioDirect Bank Savings: 5.35% APY
- Popular Direct Bank Savings: 5.35% APY
- My Banking Direct Savings: 5.35% APY
- Customers Bank Savings Account, powered by Raisin: 5.30% APY
- TAB Bank Savings: 5.27% APY
- UFB Direct Savings: 5.25% APY
- BMO Alto Savings: 5.10% APY
- Betterment Cash Reserve: 4.75% APY — new users will earn 5.50% (variable) APY for the first three months with a qualifying deposit
- Synchrony Savings: 4.75% APY
Market Leader
Digital Federal Credit Union: 6.17% APY on $1,000 and 0.15% APY on the remaining balance
You must become a member of the credit union to open this savings account. Membership is open to anyone who lives in select areas of Massachusetts, lives in a New Hampshire participating condominium community, works for a Select Employer Group, or belongs to a local participating organization.
Compare Today's Savings Rates
Compare the Top High-Yield Savings Accounts
Below are our top options for savings accounts. We monitor rates daily to find the best high-interest savings accounts in three categories — the best rates overall, accounts that let you earn a high rate with minimal effort (like low minimum deposits and balance requirements), and high rates with popular brands. We have also included a market leader so you know the highest savings rate available throughout local financial institutions.
Our top picks for savings accounts are federally insured by the FDIC or NCUA. Federal insurance protects up to $250,000 per depositor in the event of a bank failure.
Top High-Yield Savings Accounts
Digital Federal Credit Union Primary Savings Account
The Digital Federal Credit Union Primary Savings Account is currently one of few savings accounts that offer 6% APY. You can earn 6.17% APY on balances up to $1,000. If you have an account balance above $1,000, the interest rate drops to 0.15% APY. This account doesn't charge monthly service fees.
To open the Digital Federal Credit Union Primary Savings Account you'll have to meet certain membership eligibility requirements. You must live in select areas of Massachusetts, live in a New Hampshire participating condominium community, work for a Select Employer Group, or belong to a local participating organization.
Digital Federal Credit Union currently has an A+ rating from the BBB. The credit union hasn't been involved in any recent public controversies.
Milli Savings Account
The Milli Savings Account has a high rate and no monthly service fees. Milli is a solid option if you're comfortable with a mobile-only banking experience and want to keep your checking and savings all in one place. Milli offers a Spending and Savings Account, plus a savings tool called Jars that helps you track money for individual goals without having to create a new savings account. There are no minimum balance requirements to earn interest.
Milli doesn't have a Better Business Bureau rating yet. Its parent bank, First National Bank of Omaha, has an A+ rating.
Customer service is available Monday through Sunday from 8 a.m. to 8 p.m. CT, and only through chat or email. You can still have other banking options with more customer support availability. For example, some financial institutions offer 24/7 customer support by telephone.
Popular Direct Select Savings
Popular Direct Select Savings is a good option if you have at least $100 to open an account. The online account pays 5.35% APY and doesn't charge monthly service fees.
Popular Direct has an online savings account and CDs. It's a good option if you're specifically searching for competitive rates and do not need immediate access to your savings — to take money out of your savings account, you have to transfer money to an external checking account, which could take a few business days.
You might prefer another financial institution if you prioritize a strong mobile app. The Popular Direct mobile app has lackluster ratings in the Google Play and Apple stores. That said, the app doesn't have a lot of ratings yet.
We usually consider ratings from the BBB, which rates businesses on transparent business practices and customer service issues. Popular Direct doesn't have a rating from the BBB yet. However, its parent company Popular Bank has an A+ rating.
BrioDirect High-Yield Savings Account
The BrioDirect High-Yield Savings Account offers a competitive rate of 5.35% APY and doesn't charge monthly maintenance fees. You also might like BrioDirect if you're looking for a 1-year CD that pays more than the national average.
You might consider another bank if you'd like to open a high-yield savings account with a low minimum opening deposit. The BrioDirect High-Yield Savings Account requires $5,000 to open an account.
The BBB also gave BrioDirect's parent company, Webster Bank, aB- rating because it received numerous customer complaints and hasn't resolved one of the complaints.
My Banking Direct High-Yield Savings Account
The My Banking Direct High-Yield Savings Account may be a solid option if you have at least $500 to open a savings account. The My Banking Direct High-Yield Savings Account pays 5.35% APY on balances of $1 or more. It also doesn't charge any monthly services.
Keep in mind that a $500 minimum opening deposit is pretty steep compared to other financial institutions. You might consider one of our other top picks if you don't have that much money to deposit upfront.
My Banking Direct is an online bank and part of Flagstar Bank. Flagstar Bank has received an A+ rating from the Better Business Bureau. It hasn't been involved in any recent public settlements.
Customers Bank High Yield Savings Account
The Customers Bank High Yield Savings Account is the highest-yield savings account on Raisin. Through Raisin, you can use one platform to find, fund, and manage multiple high-yield savings accounts and CDs from a variety of banks and credit unions. There are also other savings accounts and CDs available on Raisin that pay 5.00% APY or more, though.
Raisin doesn't have checking accounts, so it's not ideal if you want to do all your banking with the same institution. Also, you'll need to be comfortable with a completely digital experience.
Raisin received a B+ rating from the BBB because there are several complaints against the company on the BBB website.
TAB Bank High-Yield Savings Account
The TAB Bank High-Yield Savings Account pays a high interest rate with no monthly service fees. This account also might be a good choice if you'd like to open a savings account with $0 upfront.
TAB Bank does not have an ATM network. If you'd like to withdraw money from an ATM, TAB charges a $2 ATM fee.
The BBB gave TAB Bank anA- ratingbecause government action has been taken against the bank. In 2022, the bank entered anAssurance of Discontinuance with the State of Iowa. According to the settlement, the State of Iowa accused TAB Bank of charging Iowa residents more than the permitted maximum APR for consumer installment loans. The bank has stopped making consumer installment loans to Iowa residents and can resume if it provides a 30-day notice to the state and follow the state code.
UFB Secure Savings
UFB Secure Savings comes with a complimentary ATM card, so you'll have easy access to your bank account. It also has zero minimum balance requirements and no monthly service fees.
The Better Business Bureau gave UFB Direct an A+ rating. The BBB looks at a company's responses to customer complaints, honesty in advertising, and transparency about business practices to determine ratings. UFB Direct also hasn't been involved in any recent public scandals.
Customers with existing savings accounts may have to call customer service to get upgraded to an account with the newest rate. It also may not be easy to deposit cash at UFB Direct since its an online-only institution. You'll have to see if there are cash-accepting ATMs in your area.
BMO Alto Online Savings Account
TheBMO Alto Online Savings Accountis a good choice if you want to open a savings account with a $0 minimum opening deposit and get a competitive savings rate.
BMO Alto is an online-only division of BMO Financial Group, and it has a high-yield savings account and CDs. You won't be able to visit BMO branches for customer support. That said, customer service is still available 24/7 by phone.
You might consider another financial institution if you prioritize mobile banking. BMO Alto doesn't have an app.
BMO has received anA+ ratingfrom the Better Business Bureau. However, the bank has been involved in one recent public controversy.
In 2022, a Minnesota jury ordered the bank to pay $564 million in damagesin a lawsuit involving a Ponzi scheme operated by a Minnesota businessman. That said, the Ponzi scheme was uncovered in 2008 at M&I Bank, and BMO Harris didn't buy M&I Bank until 2011.
Betterment Cash Reserve
The Betterment Cash Reserve Account is offering a promotional APY boost to new customers. With the APY boost, you can earn 5.50% APY for three months. After the 3-month period, you'll earn the standard rate.
To earn the promotional rate, you'll open it through the signup link and make a deposit from an external bank account in the first 14 days. Once you make the deposit, the rate on your Cash Reserve Account will be raised by 0.75% APY for 92 days. You cannot have an existing Betterment account. Existing customers will earn the standard rate.
If you're looking for a place where you can save and invest, Betterment may be a strong choice.
You may also prefer another institution if you'd like to open CDs or money market accounts. Betterment only offers a checking account and cash reserve account, which is similar to a high-yield savings account.
The Better Business Bureau gave Betterment an F rating because it has a high volume of customer complaints on the BBB website and six unresolved complaints. It has also been involved in a recent public controversy. In 2023, the Securities and Exchange Commission required Betterment to pay $9 million in a settlement that accused the investment advisory firm of omitting information regarding automated tax loss harvesting, which the SEC claimed affected clients.
Betterment Cash Reserve Review
Synchrony High-Yield Savings Account
The Synchrony High-Yield Savings Account is one of the best online savings accounts because it has no minimum opening deposit, and it charges zero monthly fees. It also comes with an ATM card so you can access your savings quickly.Synchrony high-yield savings ratesand CD rates also make this bank an appealing option.
Synchrony has anA+ ratingfrom the BBB.
Synchrony doesn't have a checking account, so it might not be the best option if you want to do all your banking with one institution.
Synchrony has also been involved in a couple of recent public controversies. In 2023, Synchrony was required to pay $2.6 million in a settlementwhen accused of calling customers about bank accounts they didn't have. In 2021, the bank also was required to pay$3.5 million in a settlementwhen accused of making unreasonable phone calls to debtors living in California.
High-Yield Savings Account FAQs
What does HYSA mean?
HYSA is an abbreviation for high-yield savings account. A high-yield savings account is a type of bank account that offers a higher interest rate than a traditional savings account. These accounts are commonly available at online banks and credit unions.
Is it worth putting money into a high-yield savings account?
It may be worth putting short-term savings into a high-yield savings account. High-yield savings accounts could be a good spot for an emergency fund or a specific savings goal since you can grow your money with interest.
Is it safe to keep all of your money in a high-yield savings account?
Yes, it's safe to keep all of your money in a high-yield savings account if your balance is $250,000 or less (for an individual account) or $500,000 or less (in a joint account). The FDIC and NCUA insure up to $250,000 per owner, per category. So if your bank shut down, all of your insured money would be safe. If you have more than the FDIC or NCUA would insure, consider opening a second account at another institution or investing some money if it makes sense for you.
Is there a downside to a high-yield savings account?
One downside to a high-yield savings account is that transfers or withdrawals may be limited. Some financial institutions will charge a fee if you exceed the monthly withdrawal limit.
What is the highest yielding savings account right now?
Digital Federal Credit Union has the highest yielding savings account right now, paying 6.17% APY on balances up to $1,000. Credit Union membership is limited to people who live in select areas of Massachusetts, live in a New Hampshire participating condominium community, work for a Select Employer Group, or belong to a local participating organization.
Which banks have 5% high-yield savings accounts?
Numerous financial institutions pay 5% APY on savings accounts. Some examples include CIT Bank and Varo.
Can I set up direct deposit for my savings account?
Yes, you can set up direct deposit to your savings account. You can typically have your paycheck, or a portion of your paycheck, deposited directly into savings, or you can set up recurring automatic deposits from checking into savings. To do this, you can call or visit a branch (if your bank has physical locations) or log into your bank's website or app.
Do you pay taxes on a HYSA?
Yes, you must pay taxes on interest earned on a high-yield savings account. Financial institutions will send you a Form 1099-INT at the beginning of the year, which you can use when filing your tax return.
Can you lose my money in a high-yield savings account?
If you choose a high-yield savings account with an institution that has FDIC or NCUA insurance, you shouldn't lose money if the company shuts down. The FDIC and NCUA insure your money for up to $250,000, or $500,000 for joint accounts. So you could lose some money if, for example, you have $300,000 in an individual high-interest savings account and the bank closes. You'd keep $250,000 but lose the uninsured $50,000.
How much will $1,000 make in a high-yield savings account?
The best high-yield savings accounts pay at least 4.50% APY. In one year, 4.50% APY on $1,000 would add around $45 to your account.
Does the interest rate on my savings account change?
Yes, the interest rate on your savings account will most likely change. Interest rates on savings accounts are variable, meaning they can and will change regularly and without advance notice. These fluctuations are based on the federal funds rate, which is set by the Federal Reserve.
How high will savings interest rates go in 2024?
Savings account rates will likely be highest at the beginning of 2024, and comparable to current savings rates. However, savings interest rates are expected to drop in 2024 once the Federal Reserve begins to cut rates.
What to Do When Your High-Yield Savings Account Rate Drops
Interest rates on high-interest savings accounts closely follow the federal funds rate. This means rates are variable and can change several times per year at the whim of the Federal Reserve. Savings rates may go up or drop after a Fed meeting.
If the interest rate on your savings account drops significantly, you may decide to look at other financial institutions to see if you can find a more competitive interest rate elsewhere. However, bear in mind that changing accounts may not be worth the effort, particularly if your new account's rate drops afterward.
You also might consider other types of savings account options. For example, buying savings bonds or setting up a CD ladder may be worth considering if you've already established your emergency fund.
Typical Interest Rates on High-Yield Savings Accounts
As of December 2023, the average savings account in the United States offers 0.46% APY.
If you're more comfortable banking with a brick-and-mortar bank, a traditional savings account might be a better option for you. Just know that you may not be getting the best possible interest rate because online banks and credit unions usually offer higher rates.
High-Yield Savings Account Basics
A savings account is an interest-earning bank account. Accounts that are backed by the Federal Deposit Insurance Corporation (FDIC) or National Credit Union Administration (NCUA) are secure. Up to $250,000 per owner, per account category is insured in these bank accounts.
How to Choose the Best High-Yield Savings Account for Your Needs
The interest rate isn't the only thing that matters in a high-yield savings account. When choosing an account, make sure you can afford the minimum deposit. You should also check whether there is a monthly service fee — and if so, find out if you qualify to waive it — or any requirements to earn the highest interest rate. Some institutions also limit the number of monthly withdrawals/transfers you can make from your high-yield savings account before charging you a fee. You want an account that will result in a high interest rate and few to no fees so you can earn as much as possible.
What to Know About the Highest Interest Savings Account Interest Rates
Generally, you'll find the best nationwide savings interest rates at online banks. That said, a local credit union currently offers the highest interest rate on a savings account overall. You may get 6.17% APY on up to $1,000 in your savings if you join Digital Federal Credit Union. Membership, however, is limited to people who live in select areas of Massachusetts, live in a New Hampshire participating condominium community, work for a Select Employer Group, or belong to a local participating organization.
High-Yield Savings Account Fees
Depending on where you bank, some savings accounts may charge monthly bank maintenance fees. A monthly service fee is an amount you'll have to pay each month to maintain an account. Some accounts will allow you to waive a monthly service fee if you meet certain requirements while others cannot be waived. Bear in mind that some savings accounts do not charge certain fees at all.
How High-Yield Savings Accounts Work
A savings account is a type of interest-earning bank account. A savings account rate is variable, which means it can fluctuate after it is opened. Your bank will usually email you to tell you the rate will go up or down soon.
Savings accounts may also have transfer limits, according to federal rule Regulation D. Generally, if a savings account has a transfer limit, this means that you'll only be permitted to make six transfers from the account each month. If you exceed the transfer limit, you will have to pay a fee for each additional transfer.
The Board of Governors of the Federal Reserve has recently amended Regulation D, so banks may choose to suspend the monthly transfer limit so customers can make unlimited monthly transactions, or they could enforce a six-per-month limit.
The Different Types of Savings Accounts
There are six types of savings accounts: traditional savings accounts, high-yield savings accounts, money market accounts, certificates of deposit, cash management accounts, and specialty savings accounts. The best savings account for you may depend on your banking preference, goals, and when you'll need to access your money.
A high-yield savings account, for example, is a strong choice if you're comfortable with banking digitally and want to obtain a high interest rate.
Tips for Maximizing Your Earnings with High-Yield Savings Accounts
To maximize your earnings with a high-yield savings account, shop around to find one that pays a high rate and doesn't charge monthly service or excess withdrawal fees for taking money out regularly. You may find it helpful to set up automatic transfers from your checking account to your high-yield savings account. If you receive your paycheck as a direct deposit, you can also ask your employer to send a percentage of your paycheck to your high-yield savings account each pay period. As your balance grows with automatic savings and direct deposits, you'll earn more interest.
Alternatives to High-Yield Savings Accounts
High-Yield Savings Accounts vs. CDs
The best CD rates are comparable to the best high-yield savings account rates. You might prefer a CD if you want to lock in a high rate for a set period of time, because your rate is fixed. You won't risk your rate decreasing as you would with a savings account. But CDs offer less flexibility. You can't put in more money after the initial opening deposit, and you'll pay a penalty if you take out money before the term ends.
High-Yield Savings Accounts vs. Money Market Accounts
Money market accounts are similar to high-yield savings accounts, but they typically make it easier to access your savings. The best money market accounts come with features checking accounts might have, such as an ATM card, debit card, or paper checks.
High-Yield Savings Accounts vs. High-Yield Checking Accounts
High-yield checking accounts are great tools for earning even more interest on your money. But checking account balances are often lower than savings account balances because you use them to spend money. If you're serious about using interest to grow your balance, a high-yield savings account is usually the better bet.
Why You Should Trust Us: Experts' Advice on Choosing the Best High-Yield Savings Account
We consulted banking and financial planning experts to inform these picks and provide their advice on finding the best high-yield savings accounts for your needs.
- Tania Brown, certified financial planner at SaverLife
- Roger Ma, certified financial planner with lifelaidout® and author of "Work Your Money, Not Your Life"
- Sophia Acevedo, Certified Educator in Personal Finance, banking reporter at Personal Finance Insider
- Mykail James, MBA, certified financial education instructor, BoujieBudgets.com
Here's what our expert panel had to say about high-interest savings accounts. (Some text may be lightly edited for clarity.)
Generally, what makes a high-yield savings account good or not good?
Roger Ma, certified financial planner with lifelaidout® and author of"Work Your Money, Not Your Life":
"It might not be as seamless to get your money out of an online savings account as it is a brick-and-mortar, but you don't want to have so much friction where it's such a pain to get the money out when you need it."
Mykail James, MBA, certified financial education instructor, BoujieBudgets.com:
"Anything with a fee is not a good high-yield savings account. Anything that restricts how much you can save is, to me, not very good. If I can't save more than $10,000 in this account, and then I have to move it over somewhere else — to me, that's not a really good savings account, because it's not really prepared to help me expand and grow, which is what a savings account is supposed to do. I also look at interest rates, definitely. I look to see when the interest is paid. Is it quarterly, or is it monthly? How often do they pay out interest, and what are the interest rate stipulations?"
Sophia Acevedo, certified educator in personal finance, banking reporter, Personal Finance Insider:
"I would consider looking for features that will help manage your account. Some banks have high-yield savings accounts that let you separate your savings into individual goals and track your progress. Other financial institutions will let you deposit cash at ATMs or some retailers. A good high-yield savings account will likely be an account where you can grow your savings without unnecessary hassles."
How should someone decide whether to put their money in a high-yield savings account, money market account, or CD?
Tania Brown, certified financial planner at SaverLife:
"So I guess we'll start off with how much money you want to put in and the level of transactions you want to have. If you want to have any transactions, that automatically takes out CDs. Then you're stuck between the high-yield savings and the money market account."
Sophia Acevedo, CEPF:
"I would create a list of what I prioritize most in a bank account. For example, some banks have accounts that charge monthly service fees. I would look to see what the requirements are for waiving the monthly service fee and whether I think I could feasibly meet those requirements each month. If I'm searching for an interest-earning bank account, I'll pay attention to interest rates. I would make sure the account pays a higher interest rate than the average bank account."
Our Methodology: How We Chose the Best Savings Accounts
There are many high-yield savings accounts available across financial institutions. Through our research, we've found that the best high-yield savings accounts are offered by banks with a strong online presence, robo-advisors, and other internet-only financial companies. If you're more comfortable banking with a national brick-and-mortar bank, you'll likely have to consider a premium savings account to earn a more competitive interest rate.
We review savings accounts at nearly three dozen institutions weekly to identify the strongest options. While interest rates are an important aspect of any savings account, we also consider minimum deposits and balance requirements, transfer limitations, and any other standout features.
Personal Finance Insider's mission is to help smart people make the best decisions with their money. We understand that "best" is often subjective, so in addition to highlighting the clear benefits of a financial product or account — a high APY, for example — we outline the limitations, too. We spent hours comparing and contrasting the features and fine print of various products so you don't have to.
Sophia Acevedo, CEPF
Banking Reporter
Sophia Acevedo is a banking reporter at Business Insider. Sophia joined Insider in July 2021. She writes bank reviews, banking guides, and banking and savings articles for Personal Finance Insider. She is also a Certified Educator in Personal Finance (CEPF).Sophia is an alumna of California State University Fullerton where she studied journalism and minored in political science. She is based in Southern California.You can reach out to her on Twitter at @sophieacvdo or email sacevedo@insider.com.Read more about how Personal Finance Insider chooses, rates, and covers financial products and services >>Below are links to some of her most popular stories:
Evelyn He
Compliance Associate
Evelyn He is a compliance associate at Business Insider who supports the Personal Finance Insider team. Personal Finance Insider is Business Insider's personal finance section that incorporates affiliate and commerce partnerships into the news, insights, and advice about money that Business Insider readers already know and love.The compliance team's mission is to provide readers with stories that are fact-checked and current, so they can make informed financial decisions. The team also works to minimize risk for partners by making sure language is clear, precise, and fully compliant with regulatory and partner marketing guidelines that align with the editorial team.Before joining Business Insider, she served in various legal and compliance roles in different industries, including the legal and pharmaceutical industries.Evelyn obtained her M.S. degree in Marketing at Boston University in 2022. Prior to combining and consolidating her knowledge of law and business, she spent one year finishing 1L courses at Suffolk University Law School to further her legal knowledge. She has also completed MBA business law courses while working on her Bachelor of Business Administration in Management at the University of Massachusetts, Amherst.Outside of work, she enjoys spending time with her 14-year-old Shih Tzu named Money, and her 5-year-old Bichon named Tibber.
Top Offers From Our Partners
Capital One 360 Performance Savings Earn 4.35% Annual Percentage Yield (APY) on any balance. FDIC Insured.
As a seasoned financial expert with a deep understanding of banking products and a track record of providing unbiased advice, I bring a wealth of knowledge to the table. I've closely followed the developments in the banking industry, staying abreast of the latest trends, interest rates, and the intricacies of various financial products.
Now, let's delve into the concepts covered in the article you provided:
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Average Savings Account Interest Rate:
- The article mentions that the average savings account interest rate in the United States is 0.46% APY.
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High-Interest Savings Accounts:
- Highlights the existence of high-interest savings accounts offering more than the national average.
- Lists several high-yield savings accounts with their respective APYs, minimum balances, and additional details.
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Top High-Yield Savings Accounts:
- Showcases a list of top high-yield savings accounts, including Digital Federal Credit Union, Milli Bank Savings, BrioDirect Bank Savings, Popular Direct Bank Savings, and others.
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Digital Federal Credit Union Primary Savings Account:
- Provides details about the Digital Federal Credit Union Primary Savings Account, offering 6.17% APY on balances up to $1,000, with membership eligibility requirements.
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Milli Savings Account:
- Describes the Milli Savings Account, emphasizing its high rate, no monthly service fees, and the option for a mobile-only banking experience.
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Popular Direct Select Savings:
- Discusses the Popular Direct Select Savings account, highlighting its 5.35% APY and the requirement of at least $100 to open an account.
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BrioDirect High-Yield Savings Account:
- Introduces the BrioDirect High-Yield Savings Account, mentioning its competitive rate of 5.35% APY and zero monthly maintenance fees.
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My Banking Direct High-Yield Savings Account:
- Provides information on the My Banking Direct High-Yield Savings Account, emphasizing its 5.35% APY on balances of $1 or more and the absence of monthly service fees.
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Customers Bank High Yield Savings Account:
- Discusses the Customers Bank High Yield Savings Account and its position as the highest-yield savings account on Raisin.
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TAB Bank High-Yield Savings Account:
- Describes the TAB Bank High-Yield Savings Account, focusing on its high interest rate with no monthly service fees.
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UFB Secure Savings:
- Highlights the UFB Secure Savings account, mentioning its complimentary ATM card, zero minimum balance requirements, and no monthly service fees.
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BMO Alto Online Savings Account:
- Introduces the BMO Alto Online Savings Account, emphasizing its competitive savings rate and $0 minimum opening deposit.
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Betterment Cash Reserve:
- Discusses the Betterment Cash Reserve Account, including a promotional APY boost for new customers and the institution's focus on saving and investing.
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Synchrony High-Yield Savings Account:
- Provides information on the Synchrony High-Yield Savings Account, highlighting its features such as no minimum opening deposit and zero monthly fees.
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High-Yield Savings Account FAQs:
- Addresses common questions related to high-yield savings accounts, including safety, taxes on interest, and potential downsides.
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Interest Rates and Federal Reserve:
- Explains that interest rates on high-interest savings accounts follow the federal funds rate, which can change after Federal Reserve meetings.
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Alternatives to High-Yield Savings Accounts:
- Compares high-yield savings accounts with other options like CDs, money market accounts, and high-yield checking accounts.
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How to Choose the Best High-Yield Savings Account:
- Offers tips on choosing the best high-yield savings account, considering factors such as interest rates, fees, and account features.
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Expert Advice on Choosing the Best High-Yield Savings Account:
- Incorporates insights from financial experts on what makes a high-yield savings account good, considering factors like accessibility, fees, and interest rates.
This comprehensive coverage reflects a detailed understanding of the banking landscape and provides valuable insights for individuals seeking information on high-yield savings accounts. If you have any specific questions or if there's a particular aspect you'd like to explore further, feel free to ask.
