Top High Yield Savings Account Rates: Earn More With CFG Bank Leading The Way

If you’re looking for the best rates on savings accounts, you’ve come to the right place. At CFG Bank, you can currently earn an impressive 5.07% Annual Percentage Yield (APY), far surpassing the national average of 0.40% APY offered by the FDIC.

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In fact, our rankings feature a range of top-tier rates that can help you maximize your savings. Let’s explore the leading high yield savings account rates and discover how you can make the most of your money.

Top High Yield Savings Account Rates

You’ve come to the right place if you’re looking for a high yield savings account rates. Here are the top rates available as of May 19, 2023:

Bank	Account Name	APY
CFG Bank	High Yield Savings	5.07%
Newtek Bank	High Yield Savings	5.00%
My Banking Direct	High Yield Savings	5.00%
TotalDirectBank	High Yield Savings	4.95%
Primis Bank	High Yield Savings	4.92%
Vio Bank	Cornerstone Money Market Savings	4.85%
First Foundation Bank	Online Savings Account	4.85%
Popular Direct	High-Rise Savings Account	4.85%
CIT Bank	Platinum Savings	4.85%
UFB Direct	High Yield Savings	4.81%

These rates are significantly higher than the national average of 0.40% APY, so you can earn a lot more money by keeping your savings in one of these accounts.

What is a High Yield Savings Account?

A high yield savings account is a type of savings account that offers a higher interest rate than a traditional savings account. This means that you can earn more money on your savings by keeping them in a high yield savings account.

How do I Choose a High Yield Savings Account Rates?

When choosing a high yield savings account, there are a few things you should keep in mind:

Fees:

Some high yield savings accounts have fees, such as ATM fees or monthly maintenance fees. Make sure to read the fine print so you know what fees you may be charged.

Features:

Some high-yield savings accounts offer additional features, such as free ATM withdrawals or online bill pay. Consider which features are important to you when choosing an account.

Interest Rate:

The most important factor to consider is the interest rate. Make sure to choose an account with a high-interest rate so you can earn as much money as possible from your savings.

Minimum Balance Requirements:

Some high-yield savings accounts have minimum balance requirements. This means that you must always keep a certain amount of money in the account. You may be charged a fee if you don’t meet the minimum balance requirement.

Also read:- BMO Savings Account Review: Is It Worth Opening?

How do I open a High Yield Savings Account?

Opening a high-yield savings account is easy. You can usually open a high-yield savings account online or by visiting any of the above bank branches. To open an account, you’ll need to provide some basic information, such as your name, address, and social security number.

Is My Money Safe in a High Yield Savings Account?

Yes, your money is safe in a high-yield savings account. All high-yield savings accounts are insured by the FDIC or NCUA, which means that your money is protected up to $250,000 in case the bank or credit union fails.

Conclusion

If you’re looking for a way to earn more money on your savings, a high-yield savings account is a great option. By choosing a high-yield savings account with a high-interest rate and no fees, you can maximize your earnings and grow your savings faster.