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How Does a High-Yield Savings Account Work?

Have you ever wondered how a high-yield savings account works? Get your answer here.

how does a high-yield savings account work
  • A high-yield savings account works by giving you higher-than-average interest on your savings.
  • Unlike a traditional savings account which only gives you between 0.01% to 0.06% APY, high-yield savings accounts can yield as much as 0.70% to 2.36% APY.
  • Most high-yield savings accounts are found at online banks.