What the Fed’s interest rate decision means for your savings - CNN
WEBJun 12, 2024 · As of June 11, the average online savings account rate was 4.40%, according to DepositAccounts.com. And many online high-yield accounts continue to offer rates of 5% or more. Say you have $10,000...
Savings - Latest News, Guides and Analysis to Help You Maximize …
WEBThe latest personal finance news, analysis and insights, covering retirement, how to manage your savings, tax guidance and more.
Will a high-yield savings account still be worth it after ... - CBS News
WEBAug 15, 2024 · Opening a high-yield savings account now while rates are still high may be beneficial, especially for short-term savings goals where you need easy access to your money.
How the Fed Affected Your Savings Account in ’23 and What’s Next
WEBDec 14, 2023 · In a year that saw the Fed rate reach its highest level in more than two decades, savers end 2023 on a high note. Consumers can maximize their savings for 2024.
How far will savings rates fall if the Fed cuts rates? Here ... - CBS News
WEBApr 11, 2024 · Many experts agree that savings account rates are likely to generally trend lower this year, with the top savings accounts dropping rates by around 75 basis points, e.g., falling from 5% to...
Americans were paid an additional $235 billion in interest in ... - CNN
WEBMay 1, 2024 · The average interest rate on regular bank savings accounts is roughly 0.5% but can run as low as 0.01% at the biggest banks. By contrast, the average on high-yield savings accounts is well over...
Savings interest rates hit a 15-year high but fewer Americans ... - CNBC
WEBApr 20, 2023 · Top-yielding online savings account rates are now just north of 5%, the highest since 2008, and much higher than last year’s 0.8%, according to Bankrate.com. Even Apple got in the game with a...
What Today's Fed News Tells Us About 2024 Savings and CD Rates
WEBMay 1, 2024 · The best savings account and CD rates are still at or near 20-year highs. But where will they head from here? Here's what we learned today from the latest Fed meeting.
Could savings accounts top 5%? What another Fed rate hike ... - CBS News
WEBJun 1, 2023 · Right now, with the Fed's target rate just above 5%, it's common to find high-yield savings accounts offering 4% or 4.25%. A handful of online accounts already offer 4.5% APY, but they're not the...
Americans’ Pandemic-Era ‘Excess Savings’ Are Dwindling for …
WEBDec 7, 2021 · Infusions of government cash that warded off an economic calamity have left millions of households with bigger bank balances than before the pandemic — savings that have driven a torrent of...