This Business News Story Was Uncovered By Us From: https://www.youngadultmoney.com/banks-highest-interest-rates/
This selected industry related news Feature, was chosen specifically by Marcus lee, who is one of our undercover online business news broadcast reporters – will provide you further insight in how these points of views could be translated into your own business Launchs.
Ever since I ditched my bank’s 0.01% interest rate for a savings account at a bank with a high interest rate savings account, I’ve been receiving $500 more a year in interest.
That’s a huge difference! Possibly the easiest $500 I will make each year.
Even if you don’t have a full emergency fund, you still shouldn’t accept rock-bottom interest rates on your savings. Banks are making billions in profits each year because people are parking their cash and getting almost nothing in return.
The national average interest rate on a savings account, according to Bankrate, is 0.10%. There are many banks offering more than 2.0%, though, or at least 20 times the national average.
In my article How to Choose the Best Bank I talk about my approach to banking. I used to be like many people who kept a checking and savings account at the same bank. Unfortunately banks take advantage of customers who do this by giving them a savings account with a rock-bottom interest rate, like 0.01%, because they know there is a good chance they will keep a savings account open if they have a checking account.
Instead I i… Read More
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