CBS News
16 best high-yield savings accounts to open in April 2024
Westend61
It’s important to save money so you have a safety net to fall back on when a financial emergency happens. After all, you never know when you’ll be faced with costly home or auto repairs, medical bills or other unforeseen expenses. In fact, most experts agree that you should have between three and six months worth of expenses in emergency savings at all times.
But doing so creates a challenge. Today’s high inflation rate means that you need to earn a meaningful return on your idle cash or it’s losing buying power. With prices growing at 3.2% annually, you’ll need to earn that rate or higher on your savings to offset the devaluation of your dollars. That can be difficult considering that today’s average savings account interest rate is about 0.47% annually.
A high-yield savings account can help. In fact, rates on leading high-yield savings accounts for April range from 4.35% to 6.00% – producing a positive inflation-adjusted return. But where do you find today’s best high-yield savings accounts?
Make your money work harder for you with a high-yield savings account now.
16 best high-yield savings accounts to open in April 2024
Some of the best high-yield savings accounts to open now don’t come with any monthly maintenance fees. Here are the best choices for this April:
- Mango – 6.00% APY: This account has a $25 minimum opening deposit and a $25 minimum balance required to earn the stated interest rate. But, you must have an active Mango card to open this account and you’ll need to make $1,500 in purchases per month using your Mango card to access the 6.00% APY on your savings.
- Western Alliance Bank – 5.36% APY: This account has a $500 minimum opening deposit and no minimum balance required to earn the stated interest rate once you’ve made your initial deposit.
- Jenius Bank – 5.25% APY: This account has no minimum deposit and no minimum balance required to earn the stated interest rate.
- Newtek Bank – 5.25% APY: This account has no minimum deposit and no minimum balance required to earn the stated interest rate.
- UFB Direct – 5.25% APY: This account has no minimum deposit and no minimum balance required to earn the stated interest rate.
- EverBank – 5.15% APY: This account has no minimum deposit and no minimum balance required to earn the stated interest rate.
- BMO Alto – 5.10% APY: This account has no minimum deposit and no minimum balance required to earn the stated interest rate.
- Bask Bank – 5.10% APY: This account has no minimum deposit and no minimum balance required to earn the stated interest rate.
- CIT Bank – 5.15% APY: This account has no minimum deposit requirement but, there is a $5,000 minimum balance required to earn the stated interest rate.
- Lending Club – 5.00% APY: This account has a $100 minimum opening deposit and no minimum balance required to earn the stated interest rate once you’ve made your initial deposit.
- Synchrony Bank – 4.75% APY: This account has no minimum deposit and no minimum balance required to earn the stated interest rate.
- SoFi – 4.60% APY: This account has no minimum deposit and no minimum balance required to earn the stated interest rate.
- Marcus by Goldman Sachs – 4.40% APY: This account has no minimum deposit and no minimum balance required to earn the stated interest rate.
- American Express – 4.35% APY: This account has no minimum deposit and no minimum balance required to earn the stated interest rate.
- Capital One – 4.35% APY: This account has no minimum deposit and no minimum balance required to earn the stated interest rate.
- Barclays – 4.35% APY: This account has no minimum deposit and no minimum balance required to earn the stated interest rate.
Don’t let rates like these slip away. Open a high-yield savings account now.
The bottom line
If your emergency savings is in a safe or a traditional savings account, your money is probably losing buying power. Start earning a positive inflation-adjusted return by taking advantage of one of April’s leading high-yield savings accounts. Not sure where to start? Consider opening one of the accounts above now.
A Frontier flight appeared to catch fire as the plane was landing Saturday at Harry Reid International Airport in Las Vegas, Nevada. Cell phone video showed flames and billows of smoke on the plane’s undercarriage as it touched down on the runway. Fire trucks and other emergency service vehicles rushed onto the runway, as smoke continued to surround the plane.
“Frontier flight 1326 experienced a hard landing,” a spokesperson for the airport confirmed to CBS News. “The Clark County Fire Department responded immediately and all passengers and crew have been safely transported to the gated area. No injuries were reported.”
Frontier flight 1326 from KSAN-KLAS just caught fire on landing at KLAS.
I caught it on video as it landed pic.twitter.com/KGt1Asx3rv
— Tyler (@TylerHerrick) October 5, 2024
Frontier Flight 1326 left San Diego at 1:51 p.m. Pacific Time and landed at Las Vegas at 3:37 p.m., according to Flight Aware.
“The pilots detected smoke and declared an emergency,” a spokesperson for Frontier Airlines confirmed to CBS News. “The aircraft landed safely and all passengers and crew were evacuated via airstairs. No injuries were reported, and passengers have been bussed to the terminal. The cause of the incident is currently under investigation.”
Watch CBS News
Be the first to know
Get browser notifications for breaking news, live events, and exclusive reporting.
CBS News
$100 million in federal funds released for North Carolina to rebuild roads, bridges damaged by Helene
Washington, D.C. – The U.S. Department of Transportation released $100 million in emergency funds on Saturday for North Carolina to rebuild its roads and bridges damaged by Helene.
“We are providing this initial round of funding so there’s no delay getting roads repaired and reopened, and re-establishing critical routes,” said U.S. Transportation Secretary Pete Buttigieg in a statement. “The Biden-Harris administration will be with North Carolina every step of the way, and today’s emergency funding to help get transportation networks back up and running safely will be followed by additional federal resources.”
The storm caused rampant flooding that has devastated several towns and killed more than 225 people – with CBS News confirming at least 114 people killed in North Carolina. There was more than 8 inches of rain across the western North Carolina mountains, with some areas seeing more than a foot.
Hundreds of roads across Western North Carolina remain closed, leading to an increase in air traffic as teams scour the region for survivors by air. Air traffic over Western North Carolina has increased by 300% due to relief efforts since the storm cleared, the Federal Aviation Administration and the North Carolina Department of Transportation.
Mudslides blocked Interstate 40 and other highways in North Carolina and about 400 roads were closed due to damage from Helene. Interstate 40 was damaged at several locations, the Department of Transportation said.
President Biden visited the Carolinas on Wednesday, surveying the flood damage by air from Greenville, South Carolina, to Asheville, North Carolina. Mr. Biden announced the federal government would cover “100%” of all debris removal and emergency protective measure costs in North Carolina for six months.
The Department of Transportation said these relief funds will allow the North Carolina Department of Transportation to act more quickly to fund eligible repairs to their damaged facilities.
Li Cohen and
contributed to this report.
