It is no secret that high-interest savings accounts are one of the best and most beneficial financial investments available, offering higher yields and greater safety than other forms of savings and investments. While there are a few catches to be aware of, and you should always research any account you are interested in to make sure it is right for you, the benefits of a high-interest savings account should not be overlooked.

1. High Returns

The biggest benefit to high-interest savings accounts is the high returns on offer. While other forms of savings such as stocks, mutual funds and CDs can offer higher returns, these are at much greater risk and potentially come with greater losses. High-interest savings accounts, on the other hand, are much more reliable – usually offering a return of anywhere between 1-4% depending on how much is deposited and how it is managed.

2. Guaranteed Safety

Part of the attraction to high-interest savings accounts is the fact that the money you deposit is guaranteed to be safe. These accounts are FDIC-insured, meaning the federal government will insure your money up to a certain amount, so if your bank fails, you will not lose your savings. While not all of these