One Benefit of Rising Interest Rates to Take Advantage Of

[{"selector":"#anim-c8000822-11b5-495f-bc24-515c5935ad66","keyframes":{"opacity":[0,1]},"delay":300,"duration":2500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-de386db2-103a-4bb2-94c3-141d25ea5c2f","keyframes":{"transform":["translate3d(-117.85714%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":300,"duration":2500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1f4ea796-814e-41ee-8b85-1370113371b8 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":3500,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Learn more

Rising interest rates affect far more than mortgages. Many banks are also increasing rates on their savings accounts, meaning you could earn a ton of money by switching banks.

[{"selector":"#anim-d53f9b5c-a33c-446a-9a33-d847c6b76b6b [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":5000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-d2bb3d8c-bfe7-45bb-9476-8756b7c936d5","keyframes":{"opacity":[0,1]},"delay":100,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-ff2e8bcf-db06-4c58-a929-144be2b36b86","keyframes":{"transform":["translate3d(-116.3522%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":100,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Learn more

The big players like Bank of America, USAA, and Wells Fargo haven’t increased their rates on savings to keep up with online banks and credit unions.

[{"selector":"#anim-b9b8b622-d2df-4985-af6d-0759e6b880b6 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":5000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-0184fc23-747b-43c3-b84a-d88bb80fad1d","keyframes":{"opacity":[0,1]},"delay":100,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-2cef44ef-08f2-4d10-90ea-5fff2a2cd139","keyframes":{"transform":["translate3d(116.10737%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":100,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Learn more

If you haven’t yet, now is the time to check the interest rate you are earning on your savings account and move your money if it’s not competitive.

[{"selector":"#anim-84f0ec2d-b355-4115-af85-e45402602514 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":5000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-5b9d10da-247f-45d9-8a34-e8a53e335d25","keyframes":{"opacity":[0,1]},"delay":100,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-95793337-459d-4948-b92d-609599ee6172","keyframes":{"transform":["translate3d(116.10737%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":100,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Learn more

Customers with only $1000 will make an extra $30 per year when they move their money from an account offering .01% APY to one offering 3%, not including interest from additional contributions.

[{"selector":"#anim-19e332d5-4f12-4484-a5c4-411c5536458e","keyframes":{"opacity":[0,1]},"delay":200,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-8bae2f1a-07c3-4ff0-9ce2-254b507d0c42","keyframes":{"transform":["translate3d(99.72603%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":200,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-876d4225-4c61-44fa-9cf2-024963bd8535","keyframes":{"opacity":[0,1]},"delay":200,"duration":2500,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] Learn more

Those with more in savings have even more to gain. A $10,000 initial investment will earn $300 over a year, while a $50,000 savings account will earn $1500.

[{"selector":"#anim-43563841-3b1e-4e90-9d26-f64a6cd7c221","keyframes":{"opacity":[0,1]},"delay":200,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-24a531f5-0604-4de7-9f3d-6ad1e70bb12d","keyframes":{"transform":["translate3d(-100%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":200,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-cf8537ce-f463-446b-9f7a-04de74756070","keyframes":{"opacity":[0,1]},"delay":200,"duration":2500,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] Learn more

The biggest obstacle to moving your money is closing your old account. Most big banks don’t allow you to close an account online

[{"selector":"#anim-048a7a4c-3324-4ddc-b3a7-9d7d77e711a8","keyframes":{"opacity":[0,1]},"delay":200,"duration":2500,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-276b4ce7-589d-4c7f-b6e2-1a0869d58676","keyframes":{"opacity":[0,1]},"delay":200,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7a6a2791-81b2-4f9c-a255-52d93114be8c","keyframes":{"transform":["translate3d(-100%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":200,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Learn more

You need to call and speak to someone or visit one of their brick-and-mortar locations. Both options are giant hassles

[{"selector":"#anim-ee0fb6d9-837b-4734-a72e-71565222d62f","keyframes":{"opacity":[0,1]},"delay":200,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-90f5c231-000a-4c0c-8742-823ab982a3d1","keyframes":{"transform":["translate3d(100.00000%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":200,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-59b8b882-1561-40c8-a5e2-d7cf47215e83","keyframes":{"opacity":[0,1]},"delay":200,"duration":2500,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] Learn more

The additional income you can make from interest is worth the time, even if you don’t have a lot of savings.

[{"selector":"#anim-5d1344b5-4a7a-4c2b-97b8-0c4c982de1b7","keyframes":{"opacity":[0,1]},"delay":200,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b9599b77-72bb-48bc-90b5-f3accb84621d","keyframes":{"transform":["translate3d(100.00000%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":200,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-495ad97b-c3c2-4fe3-85a6-3557e71a0d9e","keyframes":{"opacity":[0,1]},"delay":200,"duration":2500,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] Learn more

SWIPE UP FOR MORE!

[{"selector":"#anim-52ed9fee-8163-4fed-8fe7-ebc5b0170198","keyframes":{"opacity":[0,1]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e32ac59f-5b43-4e6b-83d0-5913107d28a9","keyframes":{"transform":["translate3d(0px, 313.90757%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Learn more

More Stories

[{"selector":"#anim-7db15eb4-6391-436e-8440-52a35d2cc67b","keyframes":[{"transform":"scale(1)","offset":0},{"transform":"scale(1.05)","offset":0.33},{"transform":"scale(0.995)","offset":0.66},{"transform":"scale(1)","offset":1}],"delay":0,"duration":600,"easing":"ease-in-out","fill":"both","iterations":3}] [{"selector":"#anim-558a7d99-f254-409f-8fa7-754c27d1711e","keyframes":{"transform":["translate3d(-258.99283%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":550,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-5284cfa6-1c05-40dc-bae3-a5651f008300","keyframes":{"opacity":[0,1]},"delay":550,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c61b5144-176f-41a1-8471-f9635f7d2b52","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":550,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-71b22be6-e709-410e-af42-1ef3a58bca0f","keyframes":{"transform":["translate3d(-100%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":500,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-d725c2cc-810f-49f5-9b5a-3cf8887d389c","keyframes":{"opacity":[0,1]},"delay":500,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-bf5b5b62-251b-4ada-8608-9db1af5957b3","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":500,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-8f3e5784-930f-4b02-8e1c-77ed9eb6a6d0","keyframes":{"transform":["translate3d(-100%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":700,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-4f697d69-0665-4ad2-950d-3752115e43f1","keyframes":{"opacity":[0,1]},"delay":700,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b1d7c3be-e518-45d2-922e-dc5b3fab25d8","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":700,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-db1f1c66-cd47-47da-9beb-f944f364c234","keyframes":{"transform":["translate3d(-256.33804%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":550,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7b6e0ebf-f30b-4143-aedf-78d373a2ee2a","keyframes":{"opacity":[0,1]},"delay":550,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-216aaea1-0a63-4e48-a839-6fd8bdda12b6","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":550,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]