this post was submitted on 24 Dec 2024
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Why you should pay down your low-interest mortgage (andrewbridges.org)
submitted 1 month ago by [email protected] to c/[email protected]
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[–] [email protected] 2 points 1 month ago (3 children)

"If savings accounts are paying 4% interest..."

I've never seen a savings account anywhere NEAR that high...

[–] BillibusMaximus 5 points 1 month ago

At your local bank, surely not. But there are high yield savings accounts in that range with various online banks.

For example both Ally and Amex are at 3.8% right now, and were over 4% sometime in the last year or so.

[–] [email protected] 2 points 1 month ago

Mine does when I have a certain amount in there. The rich keep getting richer or something.

[–] [email protected] 2 points 1 month ago

Guessing you don’t have an online only bank.

Banks with brick and mortar locations will never pay as much as the former because… you’re paying for physical locations.