Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News Editorials & Other Articles General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

General Discussion

CountAllVotes

(21,967 posts)

16. It smells like Bank of America!

Reply to brooklynite (Reply #15)

Tue Nov 1, 2022, 04:31 PM

Nov 2022

>>What is Bank of America savings interest rate?
Bank of America has just one savings account: Advantage Savings. The base APY is 0.01%, but if you're eligible and enroll for the Preferred Rewards program, you can earn up to 0.04%.

I'd dump them and to hell with a financial advisor!

Every hand that touches YOUR money keeps some of it, remember that!

Edit history

Please sign in to view edit histories.

Recommendations

0 members have recommended this reply (displayed in chronological order):

16 replies

= new reply since forum marked as read

Highlight:

With the Fed raising interest by 4 points in the past 9 months [View all] maxrandb Nov 2022 OP

You should check CD rates vs the regular accounts... Historic NY Nov 2022 #1

Bank rates should change. I have an account with... brush Nov 2022 #2

CD rates are up, which is nice. ananda Nov 2022 #3

my credit union has CDs listed at 3% MissB Nov 2022 #4

+1 CountAllVotes Nov 2022 #9

So you must keep for a year, ideally over 5 and I assume keep indefinitely after that? themaguffin Nov 2022 #13

You could keep it up to 30 MissB Nov 2022 #14

Because the interest they pay would would increase their cost of funds for the loans they issue Amishman Nov 2022 #5

I remember when banks paid 5% for a standard savings account Fiendish Thingy Nov 2022 #6

My credit union is paying 1.7% CountAllVotes Nov 2022 #7

Because savings rates can't go below zero FBaggins Nov 2022 #8

Thanks for all the good info maxrandb Nov 2022 #10

GO to a professional Johnny2X2X Nov 2022 #11

Thanks maxrandb Nov 2022 #12

Why is YOUR bank paying you 0.01% on savings account? brooklynite Nov 2022 #15

It smells like Bank of America! CountAllVotes Nov 2022 #16