Getting a Tax Refund? Here’s How to Turn It Into Even More Money—No Risk Required

With rates near 5%, a tax refund could start earning more the moment it hits your account.Credit: Xavier Lorenzo / Getty Images Key Takeaways High-yield savings, money market, and brokerage cash accounts pay 3%–5% right now, letting you grow your refund without any risk. CDs offer guaranteed APYs up to 4.50% and let you lock in today’s high rates if you won’t need the money for a while. Splitting your refund between a flexible account and a CD can help you earn more while keeping access to some of yo ...