The best ways to invest your cash as interest rates keep climbing

Woman sitting in chair drinking coffee and checking her investment balances (Credit: Oscar Wong—Getty Images)

The stock market may feel like being on a roller coaster right now, but it can be a good time to make some extra money without lifting a finger—or taking on too much risk. 

Thanks to the Federal Reserve opting to continue rate hikes, the average interest on savings accounts and money-market accounts, as well as CD rates, are generating big returns. Betterment, for example, hiked interest on its cash reserve account to 4.2% APY this week. It's far from the only game in town; Ally Bank offers 4% on its money-market accounts, while Citizens offers 4.25% APY on its savings account.