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A high-yield savings account is essentially the same as a traditional savings account with one key difference — high-yield savings accounts pay a higher than average APY on deposits. An APY, or annual percentage yield, is the amount of interest earned on an account in one year. The APY for high-yield savings accounts can be anywhere from 3% to over 5% — much higher than that of a traditional account. <br/><br/>Savings rates have been on the rise following a series of interest rate hikes by the Federal Reserve, as the central bank has sought to reduce inflation. The Fed opted to raise rates at the last meeting, raising the federal funds rate, a key bank lending rate, to a target range of 5.25%-5.50%. Experts believe that the Fed may raise rates again at the next meeting. Higher interest rates could potentially increase savings rates further, so many recommend locking in rates now while they're on the rise. Over time, rates will decrease as inflation cools.<br/><br/>Since the rate of return on high yield savings accounts is better than that of traditional savings accounts, you'll be able to accrue more cash over time. You can use our tool, in partnership with Bankrate, to compare savings rates today.

What Are High-Yield Savings Accounts?

⏲ 1:27 👁 29M

CTV News

Toronto church housing Group of Seven artworks destroyed by fire

⏲ 5 minutes 34 seconds 👁 2.4K

Melody Wright

Episode 40: WHAT SORCERY IS THIS?

⏲ 25 minutes 12 seconds 👁 4.7K

There are a lot of dark truths on the runway. Welcome to MsMojo, and today we’re counting down our picks for the most disturbing and shocking things about Tyra Banks’ modeling competition.

Top 10 Dark Truths About America's Next Top Model

⏲ 14:29 👁 4.5M

Alemneh Wasse

Alemneh Wasseእስራኤል 4ታጋቾችን ነፃ አወጣች፤ሐማስ 210 ሰዎች ተገድለዋል ይላል።

⏲ 8 minutes 41 seconds 👁 8K

CNBC

Why U.S. Cities Are Going Broke

⏲ 10 minutes 58 seconds 👁 431.4K

Brien O'Connor of the Texas Bankers Insurance Agency explains why you should talk to your insurance provider if your bank owns a BBQ smoker.

Texas Bankers Insurance FAQ: Does your bank own a BBQ smoker?

⏲ 60 sec ✓ 29-Sep-2016

Top G Lady

Tate Brothers Bucharest Stroll

⏲ 4 minutes 27 seconds 👁 337

Chisholm Hunter

BEST 12 Watches Under 40mm - For Slim Wrists!

⏲ 15 minutes 33 seconds 👁 2.3K

Manuel Medrano is a former member of the Arizona Mexican Mafia, also known as the New Mexican Mafia, a US prison gang. He was in and out of the Arizona Department of Corrections for 20 years and served time for armed robbery and drug trafficking.<br/><br/>Medrano speaks with Business Insider about the gang structure and hierarchy, as well as ties to the cartels. He covers gang tattoos, language, and rivalries with the Border Brothers. He also talks about the loose alliance the gang had with the Aryan Brotherhood. Medrano discusses corrupt prison guards and offers his opinion on mass incarceration and US drug policy. <br/><br/>The Mexican Mafia, also known as La Eme, originated in 1957 in the California prison system. According to law enforcement, the gang is splintered into the New Mexican Mafia, founded in Florence, Arizona, around 1974, and other factions. Many prison gangs in the US take the name Mexican Mafia, including the Mexikanemi, or Texas Mexican Mafia. <br/><br/>Find out more: phasetwooflife.org <br/>https://www.youtube.com/c/CHRONICLES1

How the New Mexican Mafia actually works, according to a former member

⏲ 34:5 👁 7M

The Montego Bay New Testament Church of God

LIVE - Reuben...Talk Up! | Rev. Dr. Precious Blair | Powerful Sunday 2nd Worship | June 9, 2024

⏲ 2 hours 59 minutes 12 seconds 👁 1.3K

WPXI-TV News Pittsburgh

Local officer under fire over video showing confrontation with black man at restaurant | WPXI

⏲ 3 minutes 30 seconds 👁 1.8M

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