Podcast
Questions and Answers
Which of the following savings tools is the most liquid?
Which of the following savings tools is the most liquid?
- Savings Accounts
- Checking Accounts (correct)
- Certificate of Deposit
- Money Market Accounts
Which savings tool typically offers the highest interest rates?
Which savings tool typically offers the highest interest rates?
- Money Market Accounts (correct)
- Certificate of Deposit
- Savings Accounts
- Checking Accounts
What do customers typically have to do to obtain higher interest rates in high-yield checking accounts?
What do customers typically have to do to obtain higher interest rates in high-yield checking accounts?
- Maintain a minimum balance
- Establish direct deposit or bill pay
- Conduct a minimum number of monthly debit card transactions
- All of the above (correct)
Which type of account generally pays a higher interest rate than a checking account?
Which type of account generally pays a higher interest rate than a checking account?
What is the main reason for savings accounts to have a higher interest rate than checking accounts?
What is the main reason for savings accounts to have a higher interest rate than checking accounts?
Which type of account offers limited checking account services and pays higher interest rates than standard savings accounts?
Which type of account offers limited checking account services and pays higher interest rates than standard savings accounts?
Which type of account has a fixed rate and a fixed date of withdrawal?
Which type of account has a fixed rate and a fixed date of withdrawal?
Which type of account typically offers the highest interest rate?
Which type of account typically offers the highest interest rate?
What is the national average APY rate for a one-year CD as of September 24, 2018?
What is the national average APY rate for a one-year CD as of September 24, 2018?
What is the minimum deposit required for a two-year CD at Synchrony Bank?
What is the minimum deposit required for a two-year CD at Synchrony Bank?
What happens to the buying power of savings if the rate of inflation is greater than the interest rate earned?
What happens to the buying power of savings if the rate of inflation is greater than the interest rate earned?
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