High-yield savings accounts slash interest rates to 'all-time lows.' (via CNBCMakeIt)
In fact, savers will be hard-pressed to find much better rates anywhere for the time being. With rates falling, a financial product with a "rate guarantee," such as a certificate of deposit , is a saver's best bet, Tumin says. But those are also hard to come by in the current environment, he adds. Most nationally available CDs have also fallen below 2% yields, with many short-term CDs now below 1%.
That said, a local credit union might be able to offer a better deal if you meet their requirements. Otherwise, savers will have to wait for the economy to rebound before they can expect higher interest payouts on their savings.
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