Here's How Much You Can Make With $20,000 in a High-Yield Savings Account

Group 1 - Traditional savings accounts have an average annual percentage yield (APY) of only 0.40%, resulting in minimal interest earnings, such as $80 per year on a $20,000 balance [1] - High-yield savings accounts (HYSAs) are currently offering APYs of 3.60% or higher, which can significantly increase interest earnings to $720 per year on the same $20,000 balance [2] - HYSAs can provide hundreds more in interest annually compared to traditional savings accounts, making them a more attractive option for savers [3]