The average savings account pays only 0.38% annual percentage yield, according to the Federal Deposit Insurance Corp. [1] Even if you have a robust savings balance — say $10,000 — a small APY ...

If you moved $10,000 into a savings account that pays 4% more than you’re getting now from your bank, in one year, you’d have $400 more. Even if your savings is $500, you’d still earn $20.

Openbank by Santander, a new digital bank, offers a high-yield savings account with 4.4% interest. Openbank has attracted $3 billion in deposits in less than four months. Opening an account takes ...

Many customers are confused about high-yield savings. Confusion abounds. Most consumers don’t realize you can open a high-yield savings account without leaving your main bank, Santander found.