Connect with us

CBS News

10 best high-yield savings accounts for July 2024

Avatar

Published

on


gettyimages-172243812.jpg
This July could be a smart time to open a top high-yield savings account.

Marcin Paśko / Getty Images


If you haven’t noticed much interest accruing on your regular savings account, it’s easy to understand why. That’s because the average savings account interest rate in the United States is only 0.45% today. That pales in comparison to the most recently reported inflation rate at 3.3%. In fact, once you adjust for inflation, if you’re earning 0.45% annually on your savings, you’re actually losing 2.85% of your purchasing power per year. 

But, it doesn’t need to be this way if you make the right moves with your savings dollars. One such move is to store it in a high-yield savings account

High-yield savings accounts typically come with all of the features you would expect from a traditional savings account with one distinct difference – the yields. These accounts are known for paying significantly more than you could earn on your money with a traditional bank. In fact, today’s top accounts are paying 5% or higher right now.

But, where can you earn the best return on your savings? Below, we gathered 10 high-yield savings accounts that are offering some of today’s most competitive rates. 

Earn more on your money with a high-yield savings account today

10 best high-yield savings accounts for July 2024

If you want to earn more on your savings, consider opening one of these high-yield savings accounts: 

  • My Banking Direct – 5.55% APY: While you’ll need to open this account with a $500 deposit, there is no minimum balance required to earn the stated APY. 
  • Brio Direct – 5.30% APY: Brio Direct requires a $5,000 minimum opening deposit. But, once you open your account, you’ll only need to maintain a $25 minimum balance to earn the advertised APY. 
  • Tab Bank – 5.27% APY: You won’t have to meet any minimum deposit requirements to open this account and the minimum balance to earn the stated APY is just $0.01.  
  • Evergreen Bank Group – 5.25% APY: You’ll need to make a $100 minimum deposit to open this account. But, once you do, there is no minimum balance required to earn the stated APY.  
  • Newtek Bank – 5.25% APY: Newtek Bank’s high-yield savings account doesn’t have any minimum deposit or minimum balance requirements.  
  • UFB Direct 5.25% APY: There are no minimum deposit or balance requirements to contend with on this high-yield savings account.  
  • Upgrade – 5.21%: While there is no minimum deposit required to open this account, you will have to have at least a $1,000 balance to earn the stated APY. 
  • Laurel Road – 5.15%: Laurel Road doesn’t have any minimum deposit or minimum balance requirements associated with its high-yield savings account. 
  • Credit Karma – 5.10%: There are no minimum deposit or balance requirements on the Credit Karma high-yield savings account. But, there is an added perk. While most accounts offer FDIC or NCUA insurance on balances up to $250,000, Credit Karma offers insurance on balances up to $5 million. So, this may be a strong option if you have a high account balance. 
  • Varo – 5.00%: Varo doesn’t have any minimum deposit or balance requirements on its high-yield savings account. But, you’ll only earn a 5% APY on balances up to $5,000. Any balances over $5,000 will earn a 3% APY. So, if you open this account, you may want to limit your deposits to a total of $5,000 or less. 

Take advantage of competitive high-yield savings account APYs now

The bottom line

Today’s top high-yield savings accounts offer APYs ranging from 5% to 5.55%. But, when you compare these accounts, make sure to consider things like minimum deposit and balance requirements, FDIC or NCUA insurance maximums and whether or not the stated APY applies to your entire balance or just a portion of it. Open a high-yield savings account now to make your money work harder for you



Read the original article

Leave your vote

Continue Reading

CBS News

11/4: The Daily Report – CBS News

Avatar

Published

on


11/4: The Daily Report – CBS News


Watch CBS News



How Harris and Trump are spending eve of Election Day; New Bob Woodward book reveals behind-the-scenes conversations of Trump and Harris

Be the first to know

Get browser notifications for breaking news, live events, and exclusive reporting.




Read the original article

Leave your vote

Continue Reading

CBS News

11/4: America Decides – CBS News

Avatar

Published

on


11/4: America Decides – CBS News


Watch CBS News



How Harris and Trump are spending eve of Election Day; New Bob Woodward book reveals behind-the-scenes conversations of Trump and Harris

Be the first to know

Get browser notifications for breaking news, live events, and exclusive reporting.




Read the original article

Leave your vote

Continue Reading

CBS News

Cargo ship launched to space station with supplies, science gear and holiday treats for crew

Avatar

Published

on


SpaceX launched an unpiloted Dragon cargo ship Monday evening, an election eve flight to deliver three tons of crew supplies, science gear and other equipment to the International Space Station, including an unusual wooden satellite, a solar wind monitor and holiday fare for the lab’s crew.

The Dragon’s Falcon 9 rocket blasted off from historic launch pad 39A at the Kennedy Space Center at 9:29 p.m. EST, lighting up the night sky for miles around as it climbed away atop 1.7 million pounds of thrust.

110424-launch1.jpg
A SpaceX Falcon 9 rocket streaks toward space after launch from the Kennedy Space Center, carrying an unpiloted Dragon cargo ship into orbit carrying 6,000 pounds of supplies and equipment bound for an Election Day rendezvous with the International Space Station.

NASA/SpaceX


After boosting the rocket out of the dense lower atmosphere, the first stage, making its fifth flight, peeled away, reversed course and headed back to an on-target landing at the Cape Canaveral Space Force Station while the second stage continued the climb to space.

The landing marked SpaceX’s 57th successful booster recovery at the Florida Space Force station and its 363rd overall, including California flights and droneship landings.

110424-boostback1.jpg
The Falcon 9’s first stage boosted the rocket out of the dense lower atmosphere and then fall away, restarting three of its nine engines (bright dot at top center) to begin reversing course to head back to Cape Canaveral for landing. In this tracking camera view, the exhaust plumes of both stages interacted in spectacular fashion in the low pressure of the extreme upper atmosphere as the second stage (right dot at lower center) continued the climb to orbit.

Spaceflight Now


Just under 10 minutes after liftoff, the vacuum-optimized engine powering the Falcon 9’s second stage shut down and one minute later, the Dragon was released to fly on its own. If all goes well, it will catch up with the space station Tuesday morning and move in for docking at the lab’s forward port at 10:15 a.m.

One of the first items on the agenda is a test Friday to determine the Cargo Dragon’s ability to boost the space station’s orbit slightly using its aft-facing thrusters. The ISS is routinely re-boosted by Russian Progress freighters and Northrop Grumman Cygnus cargo ships, but Friday’s test will be a first for SpaceX.

The California rocket builder is under contract to NASA to build a powerful space tug of sorts that can be used to safely drive the ISS back into the atmosphere when the lab complex is retired in the 2030 timeframe. The vehicle is needed to make sure the station breaks up over a stretch of ocean well away from populated areas and shipping lanes.

During the test Friday, the Cargo Dragon’s aft thrusters will fire for about 12 minutes.

“The data that we’re going to collect from this reboost and attitude control demonstration will be very helpful, informing SpaceX analyses on how the system performs,” said Jared Metter, SpaceX director of flight reliability. “This data is going to lead to future capabilities, namely the US de-orbit vehicle.”

Reboost aside, the Cargo Dragon is loaded with slightly more than 6,000 pounds of equipment and supplies, including 2,022 pounds of science gear, 2,119 pounds of crew clothing, food and other supplies, 377 pounds of spacewalk equipment, 525 pounds of space station hardware and 44 pounds of computer equipment.

One of the more unusual payloads: Lignosat, a small wooden satellite using a framework of magnolia panels built by researchers at Kyoto University in Japan and the Tokyo-based logging company Sumitomo.

110424-lignosat.jpg
An experimental satellite built with a framework of magnolia will be studied to determine how it withstands the temperature extremes in space to determine if wood might provide a sustainable material for use in future space systems.

STR/JIJI PRESS / AFP via Getty Images


“While some of you might think that wood in space seems a little counterintuitive, researchers hope that this investigation demonstrates that a wooden satellite can be more sustainable and less polluting for the environment than conventional satellites,” said Meghan Everett, the ISS deputy project scientist.

“The main objective here is to determine whether wood can be used in space, and to do this, researchers will measure the temperature and strain of the wooden structure and see how it might change in the vacuum environment of space with atomic oxygen and radiation conditions as well.”

As with all station-bound Dragon cargo ships, the crew supplies include fresh food and special treats for holiday meals.

Bill Spetch, ISS operations and integration manager, said the “food kit” includes “citrus, apples, sweet onions, blueberries, radishes, etc,” along with lobster, crab and quail for holiday meals. A variety of cheeses is on board as well as fresh coffee and personal items requested by each crew member.

Mounted in the Dragon’s unpressurized trunk section is the Coronal Diagnostic Experiment, or CODEX, an instrument that will be mounted outside the space station to learn more about how charged particles in the solar wind are heated to millions of degrees and accelerated to enormous velocities, affecting Earth’s space environment and the rest of the solar system.

Inside the station, the astronauts will have a variety of new experiments and instruments to operate and monitor, including one called ARTEMOSS that will examine how Antarctic moss tolerates the space radiation and microgravity environment to learn more about how plants might be used in future life support systems.

The European Space Agency is sending up a space exposure experiment to learn more about how high-tech materials respond to prolonged exposure to the weightless environment and another experiment to study how organic samples degrade when exposed to unfiltered ultraviolet light from the sun.

And in an experiment that could be particularly useful to future astronauts, a small device known as Nanolab Astrobeat, provided by the Malta College of Arts, Science and Technology, will test cold welding technology that could prove useful for repairing leaks or other damage from inside a spacecraft.

The Cargo Dragon is expected to remain docked at the space station for about a month before it returns to Earth with station components needing refurbishment, trash and other no-longer-needed items.



Read the original article

Leave your vote

Continue Reading

Copyright © 2024 Breaking MN

Log In

Forgot password?

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.