HYSA
2 questions
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What is a high-yield savings account?
A high-yield savings account (HYSA) pays significantly more interest than a standard savings account — typically 4–5% APY vs the national average of 0.38% — while carrying the same FDIC insurance and no lock-up period.
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Where should I keep my emergency fund?
Keep your emergency fund in a high-yield savings account (HYSA) at an online bank — it stays FDIC-insured and accessible within 1–2 business days, while earning 4–5% APY instead of the 0.38% national average at standard banks.