How to Get More Out of Your Money by Earning a Higher Interest Rate 

How to Get More Out of Your Money by Earning a Higher Interest Rate 

If you’re working hard to save, your money should be working just as hard for you. One of the simplest ways to get more out of your savings is by choosing an account that offers a higher interest rate, helping your balance grow faster without any extra effort. 

Here’s how to take advantage of high savings interest rates and make sure your money is positioned to do more. 

How Does Interest Work? 

Think of interest as a reward for saving. The bank pays you a percentage of your balance—called the savings account interest rate—just for keeping your money in the account. The higher that rate, the more your money earns over time. 

For example, if you put $5,000 into a savings account that earns 0.10% Annual Percentage Yield (APY), you’d earn about $5 after one year. But with a 3.00% APY, you’d earn about $150.* That’s a big difference, especially as your balance grows. 

Compare Savings Account Interest Rates 

Not all savings accounts are created equal. Traditional accounts often offer minimal interest, so it’s worth comparing options to find the one that gives you the best return. Look for accounts specifically designed to provide a higher interest rate and check for any balance requirements or monthly fees that could affect your earnings. 

If you’re just starting out in your career or the earner in your young family, every dollar counts. Whether you’re building your first emergency fund, planning a wedding, or saving for your child’s future, choosing an account with a high savings interest rate can give your financial goals a valuable head start. 

For those whose families and careers are more mature, your savings needs may be more complex. You may be preparing for home improvements, college tuition, and retirement, all at once. A competitive savings account interest rate helps ensure that your hard-earned money continues to grow efficiently as you balance today’s needs with tomorrow’s plans. 

Choose a Smarter Way to Save 

If you’re looking to grow your savings faster, consider WesBanco’s Companion Savings and One Plus Checking accounts. 

• WesBanco’s Companion Savings is designed to work alongside your WesBanco checking account. This savings account offers a competitive interest rate, and it’s ideal for setting aside money for emergencies, future purchases, or long-term goals. 

• WesBanco’s One Plus Checking, while technically a checking account, gives you the best of both worlds: everyday flexibility and a tiered interest rate based on account balance. That means your money grows even as you use it for day-to-day spending. 

By linking One Plus Checking with Companion Savings, you can easily move money between accounts while maximizing your overall return. 

See Checking Options

Make Your Money Work for You—Even in Small Steps 

Whether you’re just starting out or rethinking your current strategy, earning a higher interest rate can make a meaningful impact over time. It’s a simple, low-effort way to build financial momentum and feel more in control of your future. 

If you’re unsure where to start, talk to a WesBanco team member or explore our Financial Education Hub to learn more about building your savings strategy. 

 

*Example interest earnings based on approximate APY values; actual rates and earnings may vary.

WesBanco Bank, Inc. is a Member FDIC. 

Content is for informational purposes only and is not intended to provide legal or financial advice. The views and opinions expressed do not necessarily represent the views and opinions of WesBanco.

While we hope you find this content useful, it is only intended to serve as a starting point. Your next step is to speak with a qualified, licensed professional who can provide advice tailored to your individual circumstances. Nothing in this article, nor in any associated resources, should be construed as financial or legal advice. Furthermore, while we have made good faith efforts to ensure that the information presented was correct as of the date the content was prepared, we are unable to guarantee that it remains accurate today.