What Is a High Yield Savings Account?
A High Yield Savings Account (HYSA) is a special type of account that earns a higher interest rate than a traditional savings account.
Unlike traditional savings accounts, which typically earn a fraction of a percentage, Iowa Trust & Savings Bank’s High Yield Savings Account earns 3.70% APY.* With a high interest rate, growing your funds becomes simple.
Check out our High Yield Savings Account
How Do High Yield Savings Accounts Work?
A High Yield Savings Account earns a high rate of interest on the money in the account. With an HYSA, the rates are variable, meaning the interest rate may fluctuate over time as market conditions change.
Interest earned on an Iowa Trust & Savings Bank HYSA is compounded and credited monthly, allowing your savings to build on its own.
With a competitive APY* and interest earned monthly, HYSAs allow you to earn more, faster!
Calculate your potential savings growth with our Compound Savings Calculator.
What Are the Benefits of a High Yield Savings Account?
A High Yield Savings Account from Iowa Trust & Savings Bank offers several advantages over traditional savings accounts, including higher earnings potential and fewer account restrictions.
- Earn 3.70% APY*
- No daily balance requirements
- No minimum deposit required
- No monthly service fees
Plus, view balances, track interest earned, and transfer funds anytime with Online Banking and our Mobile App with Mobile Deposit.
Are High Yield Savings Accounts Safe?
High Yield Savings Accounts are a great, safe, low-risk savings option. The amount you earn may fluctuate due to the account’s variable rates, but overall HYSAs are a smart savings option for the prudent saver.
Iowa Trust & Savings Bank offers FDIC deposit insurance, as well. With an FDIC-insured High Yield Savings Account, your deposits are insured up to $250,000, giving you peace of mind.
If you’re looking for a secure savings option with steady growth, without the risks associated with investing, an HYSA may be a good option for you.
How to Open a High Yield Savings Account
At Iowa Trust & Savings Bank, we make it easy to start saving! You can open an account online in minutes through our secure digital platform or by visiting a branch (Emmetsburg, IA; Panora, IA; Clive, IA; and Sac City, IA).
Getting Started Is Easy
Step 1: Open a High Yield Savings Account online or in person.
Step 2: Register your online account. A confirmation email will be sent when approved.
Step 3: Sign in and fund your account. An initial deposit of $100 is required to open an account. No minimum deposit required thereafter. Funds can be transferred by ACH or mailed in via check (processing may take up to 3 business days).
Step 4: That’s it! Start earning and watch your savings grow.
Open a High Yield Savings Account!
At Iowa Trust & Savings Bank, we believe growth starts with smart savings strategies. A High Yield Savings Account is a classic, low-risk savings option. With no monthly service fees, no minimum deposit, and easy access to your funds, it’s never been easier to start saving smarter.
Frequently Asked Questions (FAQs)
Are High Yield Savings Accounts worth it?
Yes, with a higher APY, savers earn more interest compared to traditional savings accounts. HYSAs also provide more flexible access to funds compared to other options like Certificates of Deposit (CDs) or stocks and bonds.
Can you add to a High Yield Savings Account regularly?
Yes, you can deposit money anytime to grow your savings.
Does opening a HYSA affect credit score?
No, opening a High Yield Savings Account will not affect your credit score.
Do you pay taxes on a High Yield Savings Account?
Yes, interest earned is considered taxable income.
*Annual Percentage Yield (APY) effective as of 1/18/2026. No minimum balance to obtain APY.
$100 minimum balance required to open account. The rate may change after the account is opened. Deposits are FDIC insured up to appliable limits. Other terms and conditions may apply. Call for details.
Member FDIC