The best high-yield savings accounts in general pay high rates, have no (or few) fees and have convenient ways to withdraw money. Some even provide automatic savings features and other ways to make savings easier. Some of the best high-yield savings accounts this month include Vio Bank’s Online Savings Account, Jenius Bank’s high-yield savings account and Bask Bank’s Interest Savings Account.

Yes, high-yield savings account rates do change. Competitive banks and credit unions have a tendency to adjust their interest rates based on the Federal Reserve’s rate moves. Unlike CD rates, which are locked for a set term, savings account yields tend to be variable, which means they could change at any time. A bank may decide to lower or raise savings account APYs for various reasons. It may increase its rate as part of a promotion to attract more deposits, or it may adjust rates in response to broader economic factors, such as changes to Federal Reserve monetary policy.

High-yield savings accounts are interest-bearing savings accounts that can offer higher interest rates than the national average of standard savings accounts. They’re also FDIC-insured, if held at a member institution. Openbank is a part of Santander Bank, N.A., which is a member institution of FDIC. As a result, our High Yield Savings accounts are FDIC insured up to the standard maximum deposit insurance amount of $250,000 per depositor, per ownership category. Deposits at Santander Bank and its Openbank division are combined for FDIC purposes and are not separately insured. For more informa