The Real Deal: How to make sure the money you have in the bank earns you more

Caleb Silver of Investopedia says there’s a flip side to higher interest rates.

News 12 Staff

Sep 8, 2023, 11:56 AM

Updated 316 days ago

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Experts say making sure the money you have in the bank is in the right account could have you earning even more.
News 12’s Kristie Reeter has The Real Deal on how much your money could be making.
Caleb Silver of Investopedia says there’s a flip side to higher interest rates.
"The flip side to those higher interest rates is that you are finally earning money in the bank. Over 5% in high yield savings accounts with the big banks in the state of New York, when you are looking at money market accounts about 4.8%, and then one year CDs if you want to lock your money up for one year, over 5.5% at the big banks in New York and about 3.7% at the credit unions."


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