Most brick-and-mortar banks offer horrifically low interest rates, typically around 0.01 percent. Meanwhile, some online-only banks offer 0.95 percent interest. To put it in perspective, $10,000 in a savings account at 0.01 percent interest will earn a whopping $1 after a year. However, $10,000 at 0.95 percent will yield $95 in interest. That’s $94 extra dollars for just moving money into another account.
Posted on: Tue, 21 Oct 2014 16:02:40 +0000
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