Here are 3 places to earn 4% on your money starting this June
Summary
You can earn about 4% interest on your money starting this June by using certain types of savings accounts instead of a regular savings account. Options include certificate of deposit (CD) accounts, high-yield savings accounts, and money market accounts, all offering higher returns to help your money grow despite inflation.Key Facts
- Regular savings accounts pay low interest, around 0.38%, which is less than inflation.
- CD accounts offer fixed interest rates of 4% or higher, but you must keep your money until the term ends to avoid penalties.
- High-yield savings accounts have variable rates close to top CDs and allow easy access to your money without penalties.
- Money market accounts offer up to about 3.9% interest, let you write checks, and provide access to your funds.
- Interest rates are still higher than they were at the start of the decade, though slightly lower than in 2024-2025.
- Inflation is currently high, which makes earning more interest important to protect your savings.
- Splitting money among different account types could help maximize returns and access.
- No major interest rate cuts are expected soon, and rates may even rise further by 2026.
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