What Is High-Yield Savings Account (HYSA)?
From the SB Advisors Academy money glossary · Free, no signup
A savings account that pays a significantly higher interest rate than a traditional bank savings account, often 10 to 20 times higher.
A worked example
A traditional savings account pays 0.01% APY. A high-yield account pays 4.5% APY. On $10,000 that is $450 per year versus $1.
Category
Part of the "Banking and Savings" group in the money glossary.