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Outbyte Driver Updater FREEFix the driver behind crashes, sound loss and screen glitchesFind Drivers →Outbyte PC Repair FREEClear out junk files and repair common Windows errorsFree Scan →Only 18% of respondents in a 2025 CNBC Select/Dynata survey said they used a high-yield savings account, compared with 57% who reported using a traditional savings account. That is a survey finding—not a Federal Reserve estimate of all Americans—but it highlights a potentially costly gap: the same cash can earn substantially more when the account’s annual percentage yield (APY) is higher.
CNBC Select illustrated the difference with $8,000 earning 0.46% APY versus 5% APY. At those historical example rates, the ordinary account would produce about $36.80 in one year and the high-yield account about $400, a difference of roughly $363.20. Your result will vary with your balance, deposits, withdrawals, compounding and how long the rate remains available.
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What the 18% figure actually means
The 18% figure comes from a CNBC Select article reporting a Dynata survey conducted for CNBC Select in 2025. In that survey, 57% of respondents said they used a traditional or regular savings account and 18% said they used a high-yield savings account. The available report does not establish that the sample represents every U.S. adult, so the percentages should be read as the survey’s findings rather than a national usage rate measured by the Federal Reserve.
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A high-yield savings account is a deposit account that generally pays a higher variable APY than a standard savings account. The account may be offered by an online bank, community bank or credit union, but the deciding details are the current disclosure: APY, fees, access rules and deposit-insurance status.
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How much more could $8,000 earn?
CNBC Select’s illustration used $8,000, a 0.46% APY for an ordinary savings account and a 5% APY for a high-yield account. Applying those rates as a simple one-year illustration gives:
| Illustrative account | APY used | Interest on $8,000 for one year |
|---|---|---|
| Ordinary savings | 0.46% | About $36.80 |
| High-yield savings | 5% | About $400 |
| Difference | 4.54 percentage points | About $363.20 more |
These are historical illustration rates from CNBC Select’s 2025 article, not current offers or a promise of what any account will pay. APY incorporates compounding under the provider’s stated assumptions; a rate can change before the year ends. Interest also changes if you add money, make withdrawals or keep the balance for a shorter period.
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Estimate your own potential interest
For a quick one-year estimate, multiply your planned balance by the APY expressed as a decimal. For example, $10,000 at a 4% APY is approximately $400 over a year if the balance and rate stay constant. This shortcut is useful for comparisons, not a guaranteed payout.
- Balance: Use the amount you realistically expect to leave in the account.
- Rate duration: Check whether the APY is variable and whether a promotional rate expires.
- Cash movement: Scheduled deposits and withdrawals change the average balance earning interest.
- Compounding and crediting: Read when interest is calculated and posted.
- Taxes: Bank interest is generally taxable income; your after-tax result depends on your circumstances.
Rates move, so verify the number before opening
The Federal Deposit Insurance Corporation’s national savings deposit rate was 0.39% for March 2026, using the agency’s $2,500 product tier. Yahoo Finance reported a 0.37% FDIC national average for September 2026, but that September figure is secondary-source reporting and should be checked against the FDIC’s September table before publication or decision-making. Neither national average is a quote for a particular account.
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Because savings APYs can change, do not rank accounts from an old article or a search-result headline. Open the provider’s current account disclosure and record the date you checked it.
Compare the account terms, not just the APY
Use the same balance and holding period when comparing accounts. Confirm each item below in the institution’s current terms:
- APY and variability: Is the rate variable, and does a bonus rate apply only for a limited period?
- Minimums: What deposit opens the account, and what balance is needed to earn the advertised APY?
- Fees: Look for monthly maintenance, excessive-transfer, overdraft or other charges that could erase the interest advantage.
- Tiering: Does the quoted APY apply to the entire balance or only to a specified range?
- Eligibility: Check residency, membership, direct-deposit or other activity requirements.
- Access: Compare transfer limits, processing times, ATM availability, branch access and external-account linking.
- Ownership and insurance: Verify how the account is titled and which insurance category covers it.
Confirm that your cash is an insured deposit
FDIC insurance generally covers deposits at FDIC-insured banks in covered deposit accounts, including qualifying savings accounts, subject to the applicable ownership-category limits. A product marketed as cash management, an investment or another cash-like service is not automatically an insured bank deposit. Before transferring money, identify the legal institution holding the funds, confirm its FDIC or applicable credit-union coverage and read the product’s insurance disclosures.
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A higher APY cannot create an emergency fund by itself. The Federal Reserve’s 2025 household survey found that 55% of adults said they had set aside money sufficient to cover three months of expenses in an emergency fund. In the same report, 63% said they could cover a hypothetical $400 emergency using cash, savings or a credit card paid off at the next statement.
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Those figures support a practical order of operations: keep emergency money accessible, then improve the return without compromising access or insurance. A slightly lower APY may be preferable if a higher-paying account has restrictive transfers, balance penalties or unclear coverage. Recheck the APY and terms periodically, especially after a promotional period ends or market rates change.
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