Interest rates on savings and deposits are way too low these days, seriously
Is 3.2% for a one-year term really the best we can get? Considering inflation, it's practically negative. Stocks are battered too, so there's nowhere to put money.
9 answers
I saw the 3.2% too and thought... is this right? But factoring in inflation, it's real negative. Still, stocks are scarier, so deposits feel safer. Isn't holding on the answer now?
Rather than a savings account, look into US Treasuries or MMF. The exchange rate is decent these days, and you can get around 4%.
Well, last year it was around 2%, so isn't 3.2% holding up pretty well? Inflation has also come down to the 2% range. If not for stocks, deposits would be somewhat better.
Do you have a source? Which bank offers 3.2% for one year?
Try internet bank special promotions or regional banks. Products above 3.5% pop up now and then. Just make sure to carefully check the compound interest terms.
Agreed, deposit interest rates are so stingy these days.
Me too, I'm holding onto my deposits.
There's really nowhere to put money these days. I also withdrew my subscription deposit last year and put it into a CMA, which gives around 3.5%. Stocks... well, I took a massive loss yesterday, so I'm looking into deposits again lol. At least with deposits the principal is guaranteed, so it's reassuring.
Disagree. Isn't 3.2% a decent rate historically? There are also special promotions if you look around. And when the market crashes, you'd be kicking yourself for having your money in deposits, right?