High-yield savings accounts, in particular, have been a worthwhile alternative for many years now, thanks to the elevated interest rate climate. But the economy is slowly but surely changing again, thanks to a lower inflation rate and the prospect of another round of interest rate cuts looming.

With the average savings account paying 0.38%, according to the Federal Deposit Insurance Corporation (FDIC), it might feel a little bleak for savers. However, high-yield savings accounts still offer a way to get a little more yield. The best high-yield savings account pays a much higher yield.