I kind of get it if the interest rate is 4.15% (assuming that that’s what APY means). Is this a common rate in the US? From my European perspective that’s incredibly high.
The Fed has massively increased interest rates in the past year or so to fend off a recession. That’s in part what led to the recent bank failures, because the banks made stupid investments hinging on low interest rates. As a whole, it’s been working wonders for the economy. Things have been stabilizing and fears of a recession have lowered.
In short, yes, 4.15% is on the good side, but it’s also pretty common in the US right now. Some savings accounts have 5%+ last time I checked, though those are harder to come by and often have stupid rules attached.
I kind of get it if the interest rate is 4.15% (assuming that that’s what APY means). Is this a common rate in the US? From my European perspective that’s incredibly high.
The Fed has massively increased interest rates in the past year or so to fend off a recession. That’s in part what led to the recent bank failures, because the banks made stupid investments hinging on low interest rates. As a whole, it’s been working wonders for the economy. Things have been stabilizing and fears of a recession have lowered.
In short, yes, 4.15% is on the good side, but it’s also pretty common in the US right now. Some savings accounts have 5%+ last time I checked, though those are harder to come by and often have stupid rules attached.
My high street bank in the UK is also offering 4%.