Learn about the best high yield savings accounts and how APR works.
Want to learn more about how banks work? Check out this video: • How Banks Create Money
Synchrony: www.synchronybank.com/banking...
SoFi: www.sofi.com/banking/
T-Mobile: www.t-mobilemoney.com/
Ally: www.ally.com/bank/online-savi...
Discover: www.discover.com/online-banki...
*Note: The example used to calculate interest assumes interest is compounded monthly, but most banks will calculate interest daily based on your daily balance, while paying interest monthly.
0:00 Intro
0:19 What is a high-yield savings account?
1:29 How interest is calculated
3:30 Synchrony
4:07 SoFi
5:15 T-Mobile
6:00 Ally
7:05 Discover
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