savings account

2 questions

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.
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.