Banking & Accounts

High-Yield Savings Account (HYSA)

A savings account that pays a significantly higher interest rate than a traditional savings account.

HYSAs are commonly offered by online banks, which have lower overhead than traditional branch banks and pass some of that savings on as higher interest rates. Funds remain federally insured up to legal limits at FDIC-member banks, and money is generally accessible within a few business days, though some accounts limit the number of withdrawals per month.

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