Study: Georgia Banks’ Interest Rates Below Average
(AJC) — The interest rates depositors earn from banks are at record lows, and Georgia banks’ rates are lower than most, according to a national study.
The national average interest rate for all deposits — checking or savings accounts, money markets or CDs — dropped in July to 0.99 percent, according to Market Rates Insight. The average in Georgia was 0.75 percent, MRI said.
It’s the lowest national figure in a decade and the lowest MRI has ever seen, according to Dan Geller, executive vice president of California-based MRI.
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