November 16, 2022

Inflation means higher interest on online savings accounts

 If you still have substantial amounts sitting in a bricks and mortar bank or credit union, it's time to check out rates at online institutions. 

Check out online savings accounts at CIT Bank, Synchrony, Marcus and American Express. CIT is currently paying 3.25%, Synchrony 3%, Marcus 3% and American Express 2.75%. The rates have climbed so frequently this year that they’ll probably be higher by the time you read this.

Bankrate.com is the go-to place for comparing interest rates for both saving and borrowing: https://www.bankrate.com/

More information at: https://humbledollar.com/money-guide/higher-bank-yields/

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