A high-yield savings account is a savings account that pays a higher-than-average interest rate, helping you earn more on the money you set aside. It’s ideal for anyone looking to build an emergency fund, save for a vacation, or simply grow their savings faster than a traditional savings account allows.
At Andrews Federal, our HYSA is designed to help your money work harder while still keeping it safe and easy to access.
How Is HYSA Different from a Traditional Savings Account?
Higher Rates: HYSAs typically offer much higher interest rates compared to traditional savings accounts, which often earn minimal returns.
Access Anytime: Your money is always accessible — no need to wait for a maturity date.
No Surprises: No hidden fees, no high minimums.
More Strategic Saving: HYSAs are often used for growing balances over time, while traditional savings accounts may be used for everyday reserves.
Both account types are federally insured and allow easy access to funds, but a HYSA offers stronger earning potential — especially with Andrews Federal’s 3.95% APY on balances up to $250,000.
Andrews Federal HYSA Requirements
No Minimum to Open: Andrews Federal requires no minimum deposit to open the account.
No Monthly Fees: Many HYSAs, including ours, do not charge monthly maintenance fees.
Account Access: Must be linked to a checking account for easy transfers; access through online/mobile banking is standard.
Andrews Federal keeps it simple and accessible with no monthly fees, no high balance requirements, and no minimum to open.
How to Choose the Best High-Yield Savings Account
When comparing options, keep these in mind:
| Feature | What to Look For |
|---|---|
| APY (Annual Percentage Yield) | A higher APY means more earnings over time — Andrews Federal offers 3.95% APY on balances up to $250,000 |
| Minimum Deposit & Balance Requirements | Look for low or no minimums to open and earn interest — Andrews Federal has no minimum to open |
| Fees | Check for monthly maintenance fees or limits on free transfers |
| Accessibility | Consider if it’s online-only, branch-based, or both |
| Mobile Tools | A strong online and app experience makes managing money easier |
Andrews Federal checks all the boxes — with competitive rates, no monthly fees, and digital tools to manage your money anytime, anywhere.