Is Now a Good Time to Open a High-Yield Savings Account?

Elizabeth Aldrich, The Motley Fool
·4 min read
Is Now a Good Time to Open a High-Yield Savings Account?

After the COVID-19 pandemic hit, the Federal Reserve dropped interest rates to 0% and pledged low interest rates through 2023. What that means for you is that most savings products are offering pretty slim returns right now, and they probably will for a while. The best high-yield savings accounts are currently offering an APY of around 0.40% to 0.60%.