Interest Rates, from Stefan Jovanovich
In Belgium right now. BNP Paribas Fortis will pay you 0.11% - 0.01% for interest and 0.10% for loyalty –on a savings account in Euros. For a U.S. dollar savings account Bank of America offers 0.03%. From the point of view of "the middle class" (sic) with money, thrift has been quantitatively loosened out of existence.
Comments
crit on June 24, 2019 12:12 pm
Point taken but worth noting that the spread between online banks and brick and mortar institutions is substantial.
Ally Bank (online institution) pays 2.20% right now on savings accounts, presumably that will not last terribly long once fed cutting cycle gets underway but their rates were competitive throughout the hiking cycle.
Ally is still FDIC as well.