How much interest can a $200,000 high-yield savings account earn over the next year?

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September 2, 2026 / 9:57 AM EDT / CBS News

If you have a large, six-figure amount of money at your disposal this September and don't want to take any risks by investing, it can be tempting to deposit it into a certificate of deposit (CD) account. Interest rates on this account type are as high as 4.50% currently and they could rise further if the Federal Reserve issues an interest rate hike later this month as anticipated. At the same time, even the CDs with the shortest terms will mandate that you give up access to your funds until the account matures. And that could be difficult for many savers in today's unpredictable economic environment. It also isn't necessary when they have viable alternative account options that are offering similar rates and returns right now.

A high-yield savings account is one of them. These accounts have rates competitive with the top CDs and the rates are variable, meaning that they're well-positioned to take advantage of a hotter interest rate climate in a way that the fixed-rate CD won't be…

Original source: https://www.cbsnews.com/moneywatch/