“Maybe interest rates are too abstract for people to really appreciate what the differences mean,” Barrington says. “Convert the extra amount you could earn to dollars when you compare banks, and you'll probably see that extra is worth having.”For those not ready to test the waters of online-only banking, the survey also revealed that medium-sized banks - those with between $5 billion and $10 billion in deposits - offered an average savings account rate of 0.277 percent. That was more than 10 basis points higher than their smaller and larger counterparts - albeit roughly half the yield of what the typical online-only account offers.
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