The average savings account yield is 0.58% as of August 18, according to a Bankrate survey of 500 financial institutions. If you’re looking for a higher yield—one that provides some protection against inflation—a high-yield savings account might be a good choice.

The Federal Reserve is widely expected to cut its benchmark rate in coming months, and APYs on competitive savings accounts could fall, in turn. For the time being, savers are enjoying APYs that are higher than they’ve been in more than a decade,

Money market accounts and high-yield savings accounts are two similar savings vehicles, but with some important distinctions. Both come with variable interest rates, unlike certificates of deposit (CDs), which have fixed interest rates. Both also typically offer higher interest rates than standard savings accounts.