Here's the smarter way to earn at least 3% APY on money youre already saving

If you stockpile your savings in a traditional savings account, keep reading. Whether you’re parking funds there for safekeeping or you’re actively building your emergency fund, you could be missing out on money you’d earn just for doing what you’re already doing.

With interest-earning options like high-yield savings accounts or certificates of deposit (CDs), your savings can earn around 3% to 4% APY — a big jump from the national savings average of 0.39% APY found with traditional savings accounts.

The Marcus by Goldman Sachs High-Yield Online Savings Account is a great place to start because it offers a solid APY with no fees and no minimum deposit requirement. It’s also a straightforward option if your goal is to simply grow your money, without the hassle of meeting extra requirements, juggling balances or worrying about hidden fees.

If you have less than $5,000 in savings, the Varo Savings Account may also be a strong option. It offers a high yield on balances of up to $5,000, offering you an extra boost to your savings. To qualify for the high APY, you must receive at least $1,000 in monthly direct deposits at Varo and maintain a positive balance at the end of the month across your Varo bank accounts.

Varo also offers two automated savings features: Save Your Pay, which transfers a percentage of each paycheck into savings, and Save Your Change, which rounds up checking account transactions to the nearest dollar and transfers the difference to savings.

Barclays offers CDs with terms ranging from six months to five years, so whether you’re saving short-term or thinking long term, there’s flexibility. They also come with solid, above-average rates and no minimum deposit requirements, which keeps things simple.

If you have at least $1,500 you’re willing to set aside, Bread Savings™ CDs are worth a look. While $1,500 may sound like a lot, it’s actually a realistic sweet spot for many savers, as it’s enough to earn a meaningful amount of interest without needing a huge balance. Bread Savings offers competitive rates and terms ranging from three months to five years, which is great if you want your money to grow steadily without feeling out of reach.

Money market accounts offer the “best of both worlds” between a high-yield savings account and easy access to your cash. With a money market account, you get checking account features like check-writing and debit card access.

For example, the Quontic Bank Money Market Account offers a strong APY with a minimum balance of $100 and no monthly fees. Account holders get a free debit card and check-writing privileges. The EverBank Performance® Money Marketalso offers a favorable APY and requires no minimum deposit and charges no monthly maintenance fees. With EverBank, users get access to checks and a debit card, plus ATM fee reimbursement.

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