Savings rates climb to levels not seen since 2009. Here’s how to get the best return on your money

Interest rates are already at 3%, after starting the year at 0.55%, and are poised to continue to go up. Online savings accounts are concentrated in online accounts, while savings at brick-and-mortar banks have not moved much at all. Credit unions, which also offer savings accounts, have also been more aggressive in keeping pace with the Fed’s rate hikes. Series I bonds have become increasingly popular due to their ability to match those higher costs with higher interest rates. “We’re at levels we haven’t seen since 2009,” an analyst says.

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