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Benzinga
Benzinga
Business
Michael Cohen

Robinhood Offering Users Interest Rate Far Higher Than Banks For Holding Uninvested Cash

HOOD Robinhood United States Nasdaq Robinhood Markets, Inc.

Robinhood Markets Inc (NASDAQ:HOOD) is now paying users 1% interest for holding their uninvested money on the app.

What Happened: The online brokerage announced the new feature on Tuesday to “eligible” users of the app. The interest rate eclipses the 0.06% provided by the average U.S. savings account.

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