| A message from The Ascent, a Motley Fool Service Savings interest rates have increased significantly this year, and just keep going up. While rates in the 1-2% range might not sound like a lot, it can really add up when compared to the alternative of earning just 0.13%, which is the average rate of a "traditional" savings account. Not convinced? Let's take a closer look… Say you have $20,000 in the bank. With a traditional savings account at the national average rate, you'd earn just $26.00 in one year. With a top online high yield savings account, you could earn $330* on that same $20,000. If you don't touch that money for 10 years? That's an earnings of $261.53 for a traditional account vs. $3,556.12* for a high yield account. And for 20 years? $526.47 vs. $7,744.55*. So your total in the bank after 20 years without touching your original $20,000 would be $20,526.47 with a traditional account vs. $27,744.55 with a top high yield savings account. Those are earnings you shouldn't ignore! Especially when all you have to do is put your money in an account and watch it grow. And if you continually add to your savings? Those earnings only get better. So what are you waiting for? Maximize your savings with a top online high yield savings account today. This expert pick offers top perks, including: - 1.65% APY -- that's over 12x the national average rate!
- $1 minimum balance to earn the APY (you read that right, just one dollar!)
- No maintenance fees
- $250,000 of FDIC insurance coverage
And even better, it also offers strong account management tools that make it a competitive option if you're looking for a new home for your savings. | 
