How much interest can a high-yield savings account earn over the next year?
We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms.
TL;DR
- Traditional savings accounts offer a low average interest rate of 0.38%, which is below the current inflation rate.
- High-yield savings accounts offer significantly higher interest rates, often 4% or more.
- These accounts remain flexible, similar to traditional savings accounts, without requiring funds to be locked up like CDs.
- Interest earnings from high-yield accounts are variable but can provide an estimated annual return, such as $41 on $1,000 or $4,100 on $100,000 at a 4.10% rate.
- Actual earnings depend on the initial deposit, account activity, and fluctuations in interest rates.