What was the savings interest rate for 1960?

Answer In 1960, the average household saved at a personal savings rate of 7.5 percent with an inflation rate of 1.7 percent. The year started with an average savings APR of 2.625 percent and ended at an a... Read More »

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What was the savings interest rate in 2002?

Savings accounts at banks were paying an average of 1.14 percent interest in mid-2002, according to data from, and reported by CNN/Money. Money market accounts also paid just a bit mo... Read More »

What was the interest rate on savings in 2006?

The interest that banks paid on savings accounts in 2006 varied throughout the year and ranged from about 3.5 percent to 5.25 percent. Rates climbed fairly steadily during the year. Savings accou... Read More »

What was the savings interest rate for 1959?

According to The New York Times, Americans had a savings rate--after taxes--of 8 percent in 1959. This rate climbed to about 12 percent during the early 1980s, but dropped to near zero in 2008.Sour... Read More »

What does interest rate mean to a savings account?

Many savings accounts offered by banks allow you to earn interest on the money you have on deposit. This interest often requires a minimum balance be maintained and isn't offered with every single ... Read More »