tldrdailynews.com logo

Maximizing Your Savings: Comparing High-Yield Savings Accounts and CDs

1 min read
Source: Yahoo Finance
TL;DR

A high-yield savings account can earn you significantly more interest on your money compared to a standard savings account. With an APY of 4.85%, $100,000 in a high-yield savings account can earn you around $4,850 in interest after one year, while a savings account with the national average APY of 0.58% will only earn you around $580. It's important to shop around and compare rates to find the best high-yield savings account, especially for larger sums of money.

Topics:businesspersonal-finance#banking#high-yield#inflation#interest-rates#personal-finance#savings-account
Share this article
  1. Here’s how much $100,000 in a high-yield savings account could earn you in a year  Yahoo Finance
  2. Where to Find Today's Best CD Rates (Hint: It's Not a Bank)  Investopedia
  3. 3 things to do before the next Fed rate hike  CBS News
  4. Here's How Much $100,000 In A CD Could Earn You In 1 Year  Bankrate.com
  5. Pros and cons of using a CD for your savings  USA TODAY

Want the full story? Read the original reporting

Read on Yahoo Finance