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HYSA rates are falling. Where should you put your money?

investing ideas :: 2024-12-16 :: source - yahoo finance

By Ivana Pino

Following the Federal Reserve’s recent rate cuts, interest rates have been on the decline. And many savers have been disappointed to find that their savings accounts aren’t earning as much as they used to.

Right now, the national average rate for a traditional savings account is 0.43%, according to the FDIC. However, it’s still possible to find high-yield savings accounts (HYSAs) that offer more than 4% APY.

That said, as the Fed continues to cut rates, you should expect savings account interest rates to keep falling. So should you move your money somewhere else to earn more interest? That’s what one Reddit user wants to know.

Story continues: HYSA rates are falling. Where should you put your money?


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