Every dollar you save should work hard for you. A high-yield savings account gives your money the opportunity to grow faster, without sacrificing safety or easy access. At Home Federal Bank, we make it simple to earn more from your savings while keeping your funds secure and local.
If you want a better way to save, this guide will explain high-yield savings accounts. It will show how they work and why they might be the best choice for your financial goals.
What Is a High-Yield Savings Account?
A high-yield savings account is a type of savings account that offers a higher interest rate than a traditional savings option. The APY—short for Annual Percentage Yield—reflects how much interest you’ll earn over a year, factoring in compounding.
While most standard savings accounts earn minimal interest, high-yield accounts can pay several times more, allowing your balance to grow faster over time.
At Home Federal Bank, all savings accounts are FDIC-insured up to the legal limit, giving you peace of mind that your money is safe while it grows.
How High-Yield Savings Accounts Work
High-yield savings accounts function just like regular savings accounts, but they offer a higher return on your money.
Your balance earns interest daily or monthly, and that interest compounds—meaning you earn interest on both your initial deposits and the interest you’ve already earned. Over time, this compounding can significantly increase your total savings.
With Home Federal Bank, you can conveniently manage your account online, through the mobile app, or in person at our Lincoln branch or Hastings branch.
Benefits of a High-Yield Savings Account
A high-yield savings account offers several important advantages:
- Earn more interest: Competitive APY helps your savings grow faster without investment risk.
- Stay flexible: Access your funds when you need them—ideal for emergency funds or short-term goals.
- Keep your money safe: Funds are FDIC-insured for your protection.
- Reach your goals: Build savings for a home, vacation, or future expenses with a consistent return.
At Home Federal Bank, you also benefit from trusted local service, giving you personal guidance and peace of mind.
What to Consider Before Opening a High-Yield Savings Account
Before opening an account, consider the following:
- APY (Annual Percentage Yield): Compare rates between financial institutions.
- Minimum balance requirements: Some accounts require a specific balance to maintain the advertised rate.
- Fees: Look for accounts with transparent, low fees.
- Access options: Online, mobile, or in-branch access for convenience.
Home Federal Bank keeps savings simple—with competitive rates, no hidden fees, and personal support from our Nebraska banking team.
How to Open a High-Yield Savings Account at Home Federal Bank
Getting started is simple:
- Visit homefedehomefederalne.bank/visit-our-communities under Lincoln or Hastings, or stop by our Lincoln office or Hastings office.
- Review our high-yield savings account options and current APY.
- Provide identification and basic personal information.
- Fund your account with a qualifying deposit to start earning interest immediately.
Whether you prefer to manage your account online or face-to-face, Home Federal Bank makes it easy to save smarter and earn more.
Tips to Make the Most of Your Savings
Boost your earnings with these simple habits:
- Automate your savings: Set recurring transfers from your checking account.
- Keep your balance steady: Maintain the minimum required balance to maximize your APY.
- Avoid frequent withdrawals: Let your balance grow through compounding.
- Revisit your rate regularly: Check your APY to ensure you’re earning the best possible return.
Consistency pays off—the more intentional you are with your savings, the faster your balance can grow.
Is a High-Yield Savings Account Right for You?
A high-yield savings account is ideal if you want safe, steady growth without tying up your funds long-term.
It’s a great fit for:
- Building an emergency fund
- Saving for upcoming purchases or life events
- Keeping short-term funds liquid while still earning more interest
If you want to grow your savings without added risk, a high-yield account from Home Federal Bank could be the right move.
Save Smarter and Earn More with Home Federal Bank
Saving doesn’t have to be complicated, or slow. A high-yield savings account from Home Federal Bank helps your money grow faster while staying safe and accessible. With competitive interest rates, local service, and the security of a trusted Nebraska bank, you can save confidently for your goals.
Ready to make your money work harder?
Open your high-yield savings account today at our Lincoln branch or Hastings branch.
Important Account Information
Offer available at Lincoln, NE and Hastings, NE branches. 4.09% Annual Percentage Yield (APY) / 4.00% Interest Rate effective as of 10/20/2025 and is subject to change after account opening. Opening deposits must be new money and the minimum opening deposit and minimum balance required to obtain the advertised APY is $10,000. Fees could reduce the earnings on the account. A primary checking account is required to qualify for the account. A primary checking is considered an account that has a minimum of 1 Direct Deposit per month and five (5) or more debit card transactions per month. If the balance falls below $10,000 during the month &/or the primary checking account requirements are not met the account will adjust to 2.03% APY / 2.00% Interest Rate which is subject to change after account opening and a $25.00 service charge will be assessed to the primary checking account.