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A comment on How deep is the rot in America’s banking industry?. Parent comment

Re:How deep is the rot in America’s banking industry? by bandofthehawk on Thursday March 16, 2023 @07:46PM (#35190603)
> No sensical person is concerned with the interest rate on savings, it is nearly zero and effectively negative

This might have been true for the past ten years or more, it's not true now. You can easily find savings accounts now which offer over 3%, and it's going up as the fed continues to raise rates.

This still might not be the best investment when you consider the high inflation, but it's great for emergency fund type accounts that need low risk, high liquidity.

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Re:How deep is the rot in America’s banking industry? by nightski on Thursday March 16, 2023 @08:29PM (#35191013)
Ally is 3.6% right now and they aren't even the best. Their no penalty CDs are 4.75% which are FDIC insured as well.
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Re:How deep is the rot in America’s banking industry? by upsidesinclude on Thursday March 16, 2023 @09:42PM (#35191744)
3% savings in a 6% inflation year is negative returns.

I cant believe this got downvotes...

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