Banking
Fed Rate Hike Opens Door to 4.50% APY at Top High-Yield Savings Accounts
via NerdWallet
Following the September 16 Federal Reserve rate hike, the best high-yield savings accounts now pay up to 4.50% APY — more than ten times the FDIC national average of 0.38%. Most banks adjust their deposit rates within days of a Fed increase.
Why it matters
Moving $10,000 from a standard savings account paying 0.38% to a 4.50% high-yield account could earn roughly $412 more in interest over a year with no added risk.


