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High-yield savings accounts offer higher interest rates than regular savings accounts, which helps your money grow faster. They work like regular savings accounts, where you put money in and the bank charges interest monthly. The main difference is the much higher interest rate, typically 1% or more per year. This allows customers to earn a higher return on their savings while maintaining convenience. High-yield savings accounts are suitable for short-term goals and emergency funds, but be sure to check for possible restrictions and fees in their terms and conditions.