Forget the Fed—Keeping Your Savings at a Big Bank Could Cost You Hundreds Every Year

Key Takeaways Fed moves aside, the biggest banks still pay nearly 0% on savings, while many smaller banks pay rates 10–13 times the national average. Even a $5,000 balance can earn dramatically more in a top high-yield savings account, and the gap grows as your savings increase. You don’t need to leave your primary bank to earn more: Linking a separate savings account is easy and can reduce spending temptation. The Huge Gap Between Big-Bank Savings Rates and What Smaller Banks Pay With Federal Re ...