4 Facts Most People Don’t Know About Saving Rates Modest Money16 Comments

The following is a guest post. If interested in submitting a guest post, please read my guest posting policy and then contact me.

If you’re looking to increase your overall equity, you should be concerned about current savings interest rates. You earn money from savings accounts just from having your money sit there, but the rates are different from one bank to another. So, here are four facts that most people don’t know about saving rates and how to effectively save money.

You Can Get Better Rates from Online Banks

Online banks don’t have the same overhead as traditional brick and mortar banks which means they can offer higher interest rates to their patrons. If you never physically go to your bank, you might as well take advantage of online banks. You still get customer service, banking options, and pretty much everything else offered by traditional banks. The only thing that is missing is the face-to-face interaction. Compare the current savings interest rates for yourself to see what online banks can do for you.

CDs Aren’t Always the Best Place to Put Your Money

People put money into CDs because they are safe and they offer better interest rates…

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This entry was posted in Financial Advice, and tagged , , Modest Money16 Comments
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