Question

1. The three main types of banks (Large Traditional, Credit Union, Online or Online-Only) have many tradeoffs with respect to technology, convenience, personal experience, fees and savings rates. For this question, put aside all of the trade-offs and look only at savings rate offered on savings accounts. Rank the following from highest to lowest on the interest rates they o

Answer 1

Based on the interest rate they offer on saving accounts, the bank that offers the highest interest rate is ONLINE BANK, followed by CREDIT UNION and last of all TRADITIONAL BANK. These banking institutions also sometimes offer higher interest rates that then usual for high amount of savings.