"Comparing Top High-Yield Savings Account Rates for February 2024"
The top-earning high-yield savings accounts for February 2024 are delivering rates well above the industry average, with some offering as much as 6.17% APY. Despite the Federal Reserve's pause on interest rate hikes, competition among banks and credit unions to offer attractive rates remains strong. Online banks can afford to offer higher rates due to lower overhead costs, while demand for deposits also plays a role. Experts predict that savings rates may pull back this year, especially if the Fed cuts interest rates, but top-yielding online savings accounts are still expected to outpace inflation. The top 10 high-yield savings accounts include options with varying restrictions and minimum deposit requirements, with rates ranging from 5.32% to 6.17% APY.
