A High-Yield Savings Account (HYSA) is a type of savings account that offers a higher interest rate compared to traditional savings accounts. This means your money can grow faster over time, making it an attractive option for saving. HYSAs are typically offered by online banks and credit unions, which often have lower overhead costs, allowing them to pass on the savings to customers in the form of higher interest rates. These accounts are generally considered low-risk and provide easy access to your funds. While they may have some restrictions, such as limited withdrawals per month, they often come with no monthly fees. Overall, a High-Yield Savings Account can be a smart choice for individuals looking to save money while earning more interest.