The Federal Reserve has raised its key interest rate five times this year. As banks earn more on the money they lend, they can offer higher returns to their customers. The average national savings account interest rate is 0.17%, according to the Federal Deposit Insurance Corp. Some banks offer more than 1% or 2% on savings accounts. Some of these banks have traditionally advertised higher interest rates with their high-yield savings account products. But not all banks have significantly increased their interest rates for savings accounts.Read Long Article
