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Consumers have been beaten down an now don't expect interest on savings account to amount to much. There are a small group that chase the limited time 5% offers
by downrightmike 5y ago
Consumers have been beaten down an now don't expect interest on savings account to amount to much. There are a small group that chase the limited time 5% offers, but like all corps, banks are taking that margin for profits.
- mooreds 5y agoFor now. Hopefully competition will come to savings accounts eventually. Wouldn't expect the rate to ever beat inflation, though, since it is risk free (thanks FDIC!).
- gruez 5y ago>For now. Hopefully competition will come to savings accounts eventually. Looks like it's already here? According to one site[1], there are several banks offering above 0.6% interest. [1] https://www.bankrate.com/banking/savings/best-high-yield-interests-savings-accounts/ https://www.bankrate.com/banking/savings/best-high-yield-int...
- aaomidi 5y agoSofi is 1.25 if you do DD with them. If this comment helped you here's my referral link: https://www.sofi.com/invite/money?gcp=0eff9a6a-1cc3-4073-b8fc-d81a3810f107&isAliasGcp=false https://www.sofi.com/invite/money?gcp=0eff9a6a-1cc3-4073-b8f...
- bitxbitxbitcoin 5y agoThere’s the /r/churning crowd then there’s the DeFi crowd. Yield chasing is becoming more popular.