Getting motivated to save money can be tough, and many financial institutions don’t do much to encourage you. At the typical American bank, if you deposited $10,000 in a savings account, you might earn as little as $1 in interest a year. That’s quite a paltry reward!
However, with something called a high-yield savings account, you could be earning as much as $300 or more a year on that same $10,000 balance. Read on to learn about high-yield bank products and how they could benefit you.