How much interest can you earn with a high-yield savings account now?

Savers can still effectively grow their money with a high-yield account now, even after rates slightly declined. Getty Images/iStockphoto

Data released this week by the Federal Deposit Insurance Corporation (FDIC) again illustrated a frustrating point for savers: The returns on traditional savings accounts are essentially nonexistent. With an average rate of just 0.40% now, rates here aren't keeping pace with inflation and the cost of living, and savers are arguably losing money by keeping any of their funds in one of these accounts.

This loss of interest-earning potential is especially stark when compared to the rates that are still readily available with high-yield savings accounts , for example. A good high-yield savings account interest rate now can still typicall