A high-yield savings account is a type of savings account that offers a higher interest rate compared to traditional savings accounts. This means that your money can grow faster over time, making it an attractive option for those looking to save. These accounts are typically offered by online banks and credit unions, which often have lower overhead costs. High-yield savings accounts are generally considered safe, as they are usually insured by the Federal Deposit Insurance Corporation (FDIC) or the National Credit Union Administration (NCUA). They often come with no monthly fees and allow easy access to your funds, making them a flexible choice for saving money while earning interest.