High-yield savings accounts are paying a competitive rate right now. Learn why one writer isn't rushing to add more cash to hers. Banks and credit unions are still paying historically high rates on deposits, thanks to the Fed raising interest rates to fight inflation. Opening one of these top high-yield savings accounts makes a lot of sense in today's high-rate environment.
When it comes to choosing a high-yield savings account, Wells Fargo stands out with its various banking services and account options. They offer multiple checking and savings accounts, as well as CDs with attractive rates. For the savvy online banking customer, Capital One 360 is a great option with its attractive checking and savings accounts.
If you want to retain your purchasing power, high-yield savings accounts offer interest rates that far outpace inflation. There are big benefits to opening a high-yield savings account this month. Find out what they are here. Alliant High-Rate Savings is another top choice with an APY of 3.1% and a low minimum opening balance.