Where to Find Savings Account Interest Rates Your Bank Can’t Touch
Filed under: Banking, Family Money, Personal Finance
Low interest rates may be great for borrowers, but they’re terrible for savers. According to Bankrate.com, the average money market account pays just 0.46% in annual interest while the average interest-bearing checking account pays just 0.56%.
For those keeping score at home, that’s less than one penny a year in interest for every dollar saved.
Some big-name banks are paying even less. JPMorgan Chase (JPM), under pressure for nearly $6 billion in losses suffered in its European…
Where to Find Savings Account Interest Rates Your Bank Can’t Touch originally appeared on DailyFinance.com on 2012-07-20T09:46:00Z.
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