Savings Are Sexy Again as Banks Fight For Your Deposits

Why banks are interested in your boring deposit dollars, and how to maximize the payoff


One tiny upside to all this economic mess: as finance firms look to bolster their balance sheets by building deposits, the competition is on for your small-potato savings. Even as Treasury yields touch zero, you can still find CDs and money-market accounts paying north of 3.5%.

After the Federal Reserve slashed a key interest rate in mid-December from 1% to almost zero, 12-month CDs were still yielding 1.92% on average, the same as in April, according to

What's keeping deposit yields from plummeting along with everything else? Part of the answer is desperation. Among the companies offering the...

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