Now that interest rates are rising again, money costs more money. But that means there's an opportunity to get higher returns on deposits.
But that means there's an opportunity to get higher returns on deposits. McBride advises customers to shop around to get the best return on their savings.
Some financial institutions, especially those that are Internet-only with no brick-and-mortar locations, have traditionally advertised higher interest rates with their high-yield savings account products. Some of these banks offer more than 1% or 2% — and in some rare cases more than 3% on savings accounts, according to NerdWallet representative Chanelle Bessette.
McBride, the chief financial analyst for Bankrate.com, said it is easy to enroll in one of those accounts, even if you do your primary banking elsewhere.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
How to Earn More Money From Your Savings Now That Banks Are Raising Interest RatesThe Federal Reserve has raised its key interest rate five times this year, most recently on Wednesday, as part of its ongoing effort to slow the pace of inflation.
Consulte Mais informação »
Central Banks Raise Interest Rates Worldwide Following US Rate HikeSeveral central banks in Europe and Asia raised interest rates on Thursday, one day after the U.S. Federal Reserve raised rates to fight inflation. See potential bias and similarities in coverage from WSJ, AP and zerohedge: InterestRates Inflation
Consulte Mais informação »
Bank of England raises rates to 2.25%, despite likely recessionThe Bank of England raised its key interest rate to 2.25% from 1.75% in a bid to tame inflation, despite the economy likely entering recession. The move follows the U.S. Federal Reserve's decision to raise its rate
Consulte Mais informação »
Dow hits 2022 low as markets sell off on recession fearsStocks tumbled worldwide Friday on more signs the global economy is weakening, just as central banks raise the pressure even more with additional interest rate hikes.
Consulte Mais informação »
Stocks tumble sharply on Wall Street amid worries about rates, economyStocks tumbled worldwide Friday on more signs the global economy is weakening, just as central banks raise the pressure even more with additional interest rate hikes.
Consulte Mais informação »