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Originally Posted by Stompy
My bank (Charterone) has like 3.5% interest checking if you keep a min. balance of $2500.
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Nevermind, must've went down. It's 2% right now. It was 3.5% about a year ago.. but I dunno if it changes based on market or what.
But yeah... interest on savings, it it even worth it? If you had $2000, you'd only get $3 a month, right? (2000 * .02)/12? Or is it calculated differently?
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Hence why I'm not a fan of using your savings account to "make" money. If you keep up with inflation, you've had a good year.
Just remember - banks profit by loaning out your money you deposit, and charging fees. Most investment organizations have a "% of assets under management" fee structure, which encourages them to have higher yields.