EUGENE, Ore. -- Interest rates for deposits remain low, but Oregon Pacific Bank President and CEO Ron Green said there’s an online resource that can help.
How can I find the best interest rates for my deposits?
Green said you can look through your phonebook or Google all the local banks and start calling around and asking for rates. But there’s an easier way.
A great online source called bankrate.com allows you to find all CD rates, deposit rates, money market rates and interest rates. You can check rates for all the banks in your area and nationwide.
Still, Green said it’s important to think about what your objective is. If you have a $100,000 deposit and you can get a quarter percent higher at a bank down the street, that’s $250 a year. Is that going to make a significant difference in your lifestyle and your income?
So Green said it’s important you talk to your banker, identify what your needs and objectives are, and maybe a DC or the highest rate is the best option, but maybe not.
If you have a banking or finance question for Green, click here.
- Ask The Banker: Look online for best interest rates for deposits
- Ask The Banker: Credit score has impact on loan interest rates
- Ask The Banker: Remote Deposit Capture can help businesses save time
- Ask The Banker: Mobile deposit a safe way to put money in the bank
- Ask The Banker: Paying off loans
- Ask The Banker: Health insurance after retirement
- Ask The Banker: Avoiding check fraud
- Ask The Banker: Be cautious with Bitcoin
- Ask The Banker: Is mobile banking secure?
- Ask The Banker: Be cautious with public Wi-Fi