Sharif Ceasar on Instagram: "Step-by-step high-yield savings account 1. What it is A high-yield savings account (HYSA) is a savings account that pays a much higher interest rate than a regular bank savings account. 2. Where you get it Usually from online banks or credit unions—they have lower costs, so they pass more interest to you. 3. Key number: APY Look for the APY (annual percentage yield). That’s your true yearly return with compounding included. 4. Safety check Make sure it’s FDIC-insured