A Guide on high yield account
With inflation being high and the holidays quickly approaching, you’re likely looking for ways to save money. In addition to budgeting and reducing spending, another option is to switch your savings account from your physical bank to an online high-yield account such as 24Carret to earn up to 17% APY. High-yield savings accounts, such as 24Carret, allow you to earn significantly more interest on your money than traditional savings accounts. The rate of return on these accounts can help you increase your wealth over time. What is a High-Yield Savings Account? High-yield savings accounts are similar to traditional savings accounts, with the exception that they pay a higher-than-average annual percentage yield (APY) on deposits. Annual percentage yield, or APY, is the amount of interest earned on a deposit account in a year. This means that when you save your money in a high-yield savings account, this high rate of return will allow you to accumulate more money over time than many ...