Getting a Great Savings Account APY

The Annual Percentage Yield (APY) your savings account earns can make a difference: a high APY, like the ones found with High-Yield Savings accounts, means that while you're putting your savings away, your savings is also working for you after the fact to earn interest. A low APY on your savings account means exactly the opposite.
Read more below.

What is APY?

The Annual Percentage Yield (APY) your savings account earns can make a difference: a high APY, like the ones found with High-Yield Savings accounts, means that while you're putting your savings away, your savings is also working for you after the fact to earn interest. A low APY on your savings account means exactly the opposite.

How Can I Get a Great APY for my Savings Account?

The first thing is to make sure your account is a High-Yield Savings account - accounts of this type generally offer a higher APY. MoneyAisle, the Website you are currently visiting, provides high APY rates for savings accounts in minutes through its live auction process.

How Can Live Auctions Get Me a Great APY?

The auctions are reversed, and the banks are bidding for your business. You set your terms (basically, the deposit amount you wish to put into your savings account) and the banks take that information and bid against each other, pushing the offered APY higher. When one bank is left, the APY at the end of the auction is the highest APY available in our system at that time for your savings account.

Related Articles:
The Online Savings Account
Getting the Best Savings Account
Finding the Best Savings Account Rates
Savings Account Interest Rates
What to Look for in a Savings Account
What Each Individual Should Look for in a Savings Account