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The savings rate on high interest (or high-yield) savings accounts can sometimes be 20 times the rate of a traditional savings account. But why don’t any of the big banks offer them? Is there something about high-yield savings accounts that means I shouldn’t use them? What kinds of fees do high interest savings accounts charge and what are the common restrictions? Should I be putting my money in a high-yield savings account?

You can find a lot more detail about high-yield savings accounts here. If you would like to shop for high-yield savings accounts you can find them here.

Topics for high-yield savings accounts

00:00 – Introduction: High-yield Savings Accounts

00:13 – What is a high-yield savings account?

00:39 – What is the APY on a savings account?

01:14 – What are the fees associated with high-yield savings accounts?

01:46 – What are the advantages of a high-yield savings account?

05:07 – What are the disadvantages of high-yield savings accounts?

08:30 – Four things to do before getting a high-yield savings account.

10:54 – When is it a good idea to use a high-yield savings account?

12:20 – What should you look for when shopping for a high-yield savings account?

14:36 – Conclusion

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Nathan Foley