Today's top savings account rate roundup: Earn up to 5.84% — May 1, 2024 [USA TODAY]
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Source: USA TODAY
More broadly, this propitious development for savers presents a prime opportunity to fortify your emergency fund or work towards a big ticket purchase. Whatever your motivation, aim for a savings account with a high interest rate, low fees and outstanding customer service, in addition to a user-friendly digital experience. Known as “statement savings accounts” in the banking business, savings accounts offered microscopic yields in the years following the Great Recession in 2008. The landscape, however, was turned upside down following the government's extensive spending during the pandemic. The nation's central bank countered the inflationary effects of lockdowns and rounds of stimulus bills by significantly increasing interest rates to offset soaring prices, prompting banks to raise rates for savers. Savings account rates — $2,500 minimum deposit The highest interest rate on a standard savings account today is 5.84%, per Curinos, the same as a week ago. Meanwhile, the averag
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