High-yield savings accounts reward you with higher interest rates than traditional savings accounts and allow your money to grow faster thanks to compound interest — which lets you earn interest on interest.
While rates can fluctuate over time, high-yield savings accounts generally offer APYs over 10 times greater than the national average on savings accounts.
To determine which high-yield savings accounts are the best overall, CNBC Select analyzed and compared dozens of savings accounts offered by online and brick-and-mortar banks, including large credit unions.
(See our methodology for more information on how we choose the best high-yield savings accounts.)
Our methodologyTo determine which high-yield savings accounts offer the best return on your money, CNBC Select analyzed dozens of U.S. savings accounts offered by online and brick-and-mortar banks, including large credit unions.