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In banking, "high-yield" means slightly better than nothing

June 15, 2013
By Mary Hunt , Times-Republican

There was a time when it was routine for banks and credit unions to pay 6 percent on savings accounts. Remember that? And if you were willing to commit to an extended period of time in a Certificate of Deposit (CD), you could get 10 percent, maybe more. Those good old days are gone, at least for now. Still, the term "high-yield" remains and refers to the handful of FDIC-insured online banks that continue to pay three to four times the amount of interest you'll earn in a traditional bank or credit union.

 
 
 

 

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