82% of Americans don’t use this kind of savings account

Source: https://www.cnbc.com/select/americans-not-using-high-yield-savings-accounts/

• 82% of Americans don't use high-yield savings accounts, potentially missing out on significant interest earnings.
• High-yield savings accounts currently offer interest rates over 5% (2023), compared to the 0.46% national average for traditional savings accounts.
• The median cash balance for American families is $8,000 across various bank accounts.
• At 5% APY, $8,000 in a high-yield account would earn over $400 in interest annually, versus just $37 in a traditional savings account.
• 57% of Americans keep their savings in traditional or regular savings accounts.
• Only 18% of Americans utilize high-yield savings accounts.