What is a high yield savings account?

Answer Banks and other financial institutions offer a number of account types to customers, each with its own specific purpose and benefits. High-yield savings accounts are a common option and a generally... Read More »

Top Q&A For: What is a high yield savings account

Is there a difference between the APY on a savings account& a high-yield money market account?

No, the formula for annual percentage yield (APY) is one plus the periodic interest rate. Then raise the sum to the power of the number of periods of investment. Finally, subtract one. The formula ... Read More »

What is a high-yield savings account?

As the name suggests, a high yield savings account pays a greater rate of interest than the average savings account. Many banks offer these kinds of accounts, although the argument can be made that... Read More »

How to Compare High-Yield Savings Accounts?

High-yield savings accounts pay a higher annual yield than standard savings accounts. Typically, high-yield savings accounts have requirements that have to be met each month in return for a higher ... Read More »

What is a high-yield money market account?

A high-yield money market account is a type of savings or checking account. Terms and features of high-yield money market accounts vary, but what they have in common is that they pay you a higher i... Read More »