The High Yield Savings Illusion: What's Behind the Best Rates? The latest crop of high yield savings accounts touting rates up to 4.
15% APY might seem like a tantalizing prospect for those looking to supercharge their savings, especially when compared to the paltry 0.
38% average interest rate offered by traditional savings accounts, according to the FDIC. However, this surge in high yield savings account rates is closely tied to the federal funds rate set by the Federal Reserve.