Savings accounts typically enjoy compound interest, which means you earn a return on both the principal balance and the interest the principal earns. Some accounts compound daily, others monthly.

There are no monthly account fees ... In the case of a 5% APY savings account, it means you’ll earn a total of 5% interest throughout the year. APY is different than the interest rate.

A higher APY means you'll earn more on your savings account balance ... any fees associated with the account. For example, some accounts will charge a monthly maintenance fee if you don't meet ...

This means savings rates will continue to trend ... Some fees associated with high-yield savings accounts include monthly maintenance fees, excess transaction fees, paper statement fees, and ...

LendingClub LevelUp Savings requires no monthly maintenance fee ... HYSAs are federally insured for up to $250,000 per account, per person — which means your money is safe up to the limit.