"Top Savings Accounts with High APYs: June 2023 Update"

High-yield savings accounts are offering rates of 5% APY or more, a significant increase compared to a few years ago when rates were below 1%. Some of the accounts currently offering 5% or higher include Popular Direct, Salem Five Direct, Dollar Savings Direct, and Newtek Bank. While interest rates may continue to rise, it's important to consider other factors when choosing a savings account. Short-term CDs may offer slightly higher yields, but high-yield savings accounts provide more flexibility for accessing funds in case of emergencies.