What is a high-yield savings account? A savings account offering higher interest rates A checking account with no minimum balance An account that charges higher fees A type of investment portfolio

## Step 1<br />A high-yield savings account is a type of savings account that typically offers higher interest rates than traditional savings accounts. This is because these accounts are designed to attract customers by offering higher returns on their deposits.<br /><br />## Step 2<br />The other options provided do not accurately describe a high-yield savings account. A checking account with no minimum balance is a type of checking account, not a savings account. An account that charges higher fees is not a characteristic of a high-yield savings account. Lastly, a type of investment portfolio is not a savings account, but rather a collection of investments.