Maximizing Your Savings: Comparing High-Yield Savings Accounts and CDs
TL;DR Summary
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.
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