The Staggering Low Interest Rates From Big Banks
Cash returns is one of hot topics at MyPlanIQ. We monitor returns from banks, brokerage money markets and brokered CDs and Treasury bills. Our latest check on this indicates an astounding phenomenon: banks can keep rates low for a very very long time to make huge profits.
Interest rates have risen steadily for almost two years now. However, interest rates from big banks for still unbelievably low. The following are what we see from the four major big banks in the US.
The subzero savings rates from the four big banks
|Bank of America||0.03%|
Some of them offer higher interests for much higher account balance. For example, Wells gives 0.05% if your account balance is over $250k. But that’s still miniscule.
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