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A high-yield savings account is essentially the same as a traditional savings account with one key difference — high-yield savings accounts pay a higher than average APY on deposits. An APY, or annual percentage yield, is the amount of interest earned on an account in one year. The APY for high-yield savings accounts can be anywhere from 3% to over 5% — much higher than that of a traditional account. <br/><br/>Savings rates have been on the rise following a series of interest rate hikes by the Federal Reserve, as the central bank has sought to reduce inflation. The Fed opted to raise rates at the last meeting, raising the federal funds rate, a key bank lending rate, to a target range of 5.25%-5.50%. Experts believe that the Fed may raise rates again at the next meeting. Higher interest rates could potentially increase savings rates further, so many recommend locking in rates now while they're on the rise. Over time, rates will decrease as inflation cools.<br/><br/>Since the rate of return on high yield savings accounts is better than that of traditional savings accounts, you'll be able to accrue more cash over time. You can use our tool, in partnership with Bankrate, to compare savings rates today.

What Are High-Yield Savings Accounts?

⏲ 1:27 👁 26.8M

Karnataka Bank Surges After Ambit Initiates Coverage With Buy Rating & Target Price Of ₹340

⏲ 1 minute 57 seconds 👁 1.6K

Karnataka Bank

⏲ 2 minutes 18 seconds 👁 2.7K

Price monitoring shows living costs have risen more in remote towns than in metropolitan areas due to transportation, limited storage and a lack of competition. In the northern Western Australia community of Kalumburu locals are paying twice as much for fuel and some basic food items.

Fuel and food significantly more expensive in remote Australia

⏲ 1:37 👁 3.6M

Karnataka Bank

Cyber Safety by Karnataka Bank (Hindi)

⏲ 53 seconds 👁 26.8K

Stock Market Live

KARNATAKA BANK share latest news,karnataka bank share analysis,karnataka bank share target,

⏲ 2 minutes 26 seconds 👁 1.9K

Knowing how to organize a small kitchen can feel like a challenge, but with a little expert guidance, lack of kitchen space needn’t be a problem. <br/><br/>When it comes to understanding how to organize a kitchen that is limited in size, the key is making better use of the space available. While most of us could use a bigger kitchen, more cupboards, or extra worktop space, using what we do have more efficiently can make the space feel stacks bigger without the need for a costly refurb.

Tips On Maximizing Tiny Kitchens

⏲ 0:36 👁 2.4M

karnataka bank share, karnataka bank share latest news, karnataka bank share latest news today⚡

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karnataka bank share, karnataka bank share latest news, karnataka bank share latest news today⚡

⏲ 1 minute 28 seconds 👁 411

There are a lot of dark truths on the runway. Welcome to MsMojo, and today we’re counting down our picks for the most disturbing and shocking things about Tyra Banks’ modeling competition.

Top 10 Dark Truths About America's Next Top Model

⏲ 14:29 👁 3.2M

NDTV Profit

Invest 2029 | What Does NDA Third Team Mean For An Indian Investor

⏲ 2 hours 24 minutes 👁 4.4K

Public TV

ಬಹುಕೋಟಿ ಹಗರಣದ ಕೇಸ್ ಗೆ ಬಿಗ್ ಟ್ವಿಸ್ಟ್ | Valmiki Development Corporation Scam | Public TV

⏲ 3 minutes 13 seconds 👁 3.7K

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