A high-yield savings account is essentially the same as a traditional account with one key difference — it pays a higher than average APY on deposits. (Image credit: Getty Images) A high-yield savings account is essentially the same as a traditional savings account with one key difference — high-yield savings accounts pay a higher than average APY on deposits. An APY, or annual percentage yield, is the amount of interest earned on an account in one year. The APY for high-yield savings accounts c