Do you have a CD that matures soon? If so, you may want to open a high-yield savings account. Here's why.
Do you have a certificate of deposit that will be maturing soon? With a CD, you deposit money into your account and agree not to touch it for the account's entire term in exchange for a strong return. But, when your CD matures, your money becomes liquid again, making it possible to make new moves with your freed up cash.
If inflation doesn't cool significantly soon, it could lead to more rate hikes. But, that may be a good thing if you have your money in a high-yield savings account. That's because these accounts typically come with variable interest rates. So, a higher federal funds rate could result in higher returns on your savings. Enjoy higher rates with a high-yield savings account today.
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