What Is a High-Interest Savings Account?

High-interest savings accounts defined A high-interest savings account is a bank account that lets you deposit money at a higher-than-average return. The average savings account pays only 0.06% annual percentage yield. Many traditional banks and credit unions pay even less. But a high-interest account, also called a high-yield savings account, earns much more — sometimes…

Family Loans: How to Borrow From and Lend to Family

Borrowing from family may seem like a low-cost option if you need money for a down payment on a home, to start a business or repay high-interest debts. But mixing business with family is tricky. A family loan can put your relationship with the lender — and their finances — at risk. Success requires clear…