About this video
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?
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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