Why the best high-yield savings account may not come from a bank with a local branch [USA TODAY]
NerdWallet, Inc. (NRDS)
Company Research
Source: USA TODAY
Interest rates of 4% to 5% have become the norm on “high-yield” savings accounts in the past two years in response to the Fed's dramatic campaign of interest-rate hikes to curb inflation. Those lofty rates should persist for the foreseeable future after the central bank left its key rate unchanged at a 23-year high on Wednesday. That said, not all savings accounts pay such high interest. As of April, the average national yield on such accounts was 0.57% , according to an institutional survey by Bankrate. To cash in on those historically high rates, a consumer has to do some hunting. Many of the best high-yield savings rates come from online banks Many of the best rates are from online banks, institutions that operate online, with few or no brick-and-mortar branches. My Banking Direct, a New York Community Bancorp subsidiary, offered the highest rate on Bankrate's table of high-yield savings accounts last week, according to Ted Rossman , senior industry analyst at the person
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NRDS
Earnings
- 4/25/24 - Beat
NRDS
Sec Filings
- 5/16/24 - Form 4
- 5/16/24 - Form 4
- 5/16/24 - Form 4
- NRDS's page on the SEC website