3 things to consider when you're deciding which savings account to open
Get the Full StoryTempura Getty ImagesWhen shopping for a new savings account, look for a high-yield savings account that helps your money grow. It's the same as a traditional savings account, but offers interest on your cash.
Find a bank account that's fee-free, easy to use, and offers a high interest rate or, even better, all three.
See Business Insider's rankings of the best high-yield savings accounts in 2020
In the market for a savings account? Three main considerations can help you decide which one you should open: a convenient experience, fee-free banking, and the ability to earn interest on your money.
The best savings account is usually one that accrues interest. There's really no reason not to opt for a high-yield savings account over a traditional savings account. After all, there's virtually no difference between the two, other than the fact that one helps you grow your money by earning a small amount of interest. About 75 of Americans don't yet have a high yield savings account, and that means they're leaving free money on the table.See the rest of the story at Business InsiderNOW WATCH: What it's like to ride the world's longest flightSee Also:4 ways to spend 100 today to be richer by this time next yearI got hit with a 10,000 tax bill this year, but my 3-prong money management strategy meant it wasn't a problem9 signs you probably aren't saving enough money, even if you think you are
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