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Kiplinger
Kiplinger
Business
Kelly LaVigne, J.D.

Why You Shouldn’t Let High Interest Rates Seduce You

Interest Rates Allianz Life
A man smiles as he looks at cash he's fanned out in his hands.

With today’s interest rates, money left in savings accounts is earning more than it has in years past.

Some banks are offering more than 5% annual percentage yield on savings accounts. A couple of years ago, those same high-yield savings accounts were offering just more than 1% APY. Therefore, seeing your interest credit on your account increase so drastically can be enticing.

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