| A message from The Ascent, a Motley Fool Service While no one is enjoying the spike in inflation that we've seen over the past year, it has had one positive impact: increased interest rates for savings accounts. As the Fed has raised rates repeatedly in an attempt to tackle inflation, the higher interest rates have led to a surge in savings account APYs. A year ago, the highest APY on our Best Savings Accounts page was just 0.61%. Now, that number is over 3%! The impact here could be massive: using a high-yield savings account could easily add up to tens of thousands of additional dollars over your lifetime than a regular savings account. Which means if you're parking your cash in an account with a low APY, you could be missing out on a lot of extra, risk-free cash. Plus, these accounts are FDIC insured to at least $250k just like any other bank. Our financial experts have curated three options that stand out from the crowd. All three options have: - A sky-high APY -- all three are at least 12x the national average rate!
- No monthly maintenance fees
- Low to no account minimums
And even better, they all have strong account management tools that make them competitive options if you're looking for a new home for your savings. Open a high-yield savings account today and earn up to 3.11% APY. | 
