Stashing Your Cash During Trump's Tariff Uncertainty? This Type of Account Pays Over 4%
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KEY POINTS
- Economic uncertainty is driving demand for safe, interest-bearing savings options.
- HYSAs currently offer over 4.00% APY, with no risk, no fees, and full liquidity.
- These accounts are ideal for emergency funds, travel savings, or any short-term financial goal.
You've likely seen the headlines: Global trade tensions are heating up, and prices could be on the move again. New tariffs, retaliatory taxes, and supply chain disruptions are adding fresh uncertainty to the economy -- and everyday consumers are likely about to feel the ripple effects.
With inflation still lingering and markets bouncing on global headlines, you're probably asking a simple question: Where can I safely grow my savings right now?
The answer for more and more people is clear: high-yield savings accounts (HYSAs).
Why HYSAs make sense right now
High-yield savings accounts offer a rare combo in today's financial landscape: strong returns and peace of mind. These accounts are federally insured, come with zero risk to your principal, and many are still paying well above 4.00% APY -- even as rates on other products have started to slip.
Here's what you typically get with a great high-yield savings account:
- 4.00% to 4.50% APY -- often 10x what big banks pay
- No fees or monthly maintenance charges
- No minimum balance to open or earn interest
- Instant access via mobile apps or online banking
Whether you're building an emergency fund, saving for a big trip, or just trying to stay ahead of inflation, a HYSA offers one of the best risk-free returns available today.
The CIT Platinum Savings account is one of the best HYSA options available. It offers 4.10% APY for balances of $5,000 or more, and we rated it 4.5 out of 5 stars -- open an account today.
Don't wait too long
The economic picture is still evolving -- and that means savings rates could drop at any time. If you're sitting on idle cash in a checking account or earning less than 1.00% in a traditional savings account, now's a good time to act.
Even a few thousand dollars earning 4.10% APY can add up faster than you might think, especially if you're saving for short-term goals.
Time is money
In a world where prices are rising and headlines change fast, an HYSA is a simple but powerful tool to keep your money safe -- and growing. You don't need to take on market risk to earn a solid return, check out our list and open a high-yield savings account today.
Our Research Expert
Jake is a full-time Editorial Strategist for Motley Fool Money. He specializes in product ratings and all things credit cards, and wants to make sure each person has the best card for them.
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. Motley Fool Money does not cover all offers on the market. Motley Fool Money is 100% owned and operated by The Motley Fool. Our knowledgeable team of personal finance editors and analysts are employed by The Motley Fool and held to the same set of publishing standards and editorial integrity while maintaining professional separation from the analysts and editors on other Motley Fool brands. Terms may apply to offers listed on this page. APYs are subject to change at any time without notice.