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HYSA is a term typically used to describe savings accounts where the interest rate tracks the federal interest rates and is competitive with other "HYSAs". Righ
by CameronNemo 4y ago
HYSA is a term typically used to describe savings accounts where the interest rate tracks the federal interest rates and is competitive with other "HYSAs". Right now 1% is the norm, and you can get that from several credit unions and banks. Some banks, however, use their name recognition to attract customers and offer lower yields. For example, a Wells Fargo savings account will not yield 1% at the moment.
- hirvi74 4y agoThe 'H' should be changed to "Higher" instead of "High" since I believe 1% is far from what anyone would consider to be a high return.
- UncleEntity 4y agoAny savings account which pays less than inflation is just paying the bank to hold your cash for you. Which is the point, saving money is bad for the economy because reasons so it must be penalized.