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Web12 apr. 2024 · Money that sits in a savings account is losing value every single year — for example, something that cost $100 in 2013 would cost $130 today. “If everything you’re paying for costs 5% more this year but you’re only earning 0.2% interest from your bank, that gap becomes significant,” notes Margaret Giles, Morningstar data journalist. Web13 sep. 2024 · Can money market accounts offer compound interest? Some money market accounts offer competitive interest rates which are comparable to high-yield savings accounts (HYSA). However, some can also be very stingy in what they offer to consumers. If you’re considering leveraging a money market account, look around for … WebNew Dollar Special Interest Rates require $25,000 in new money deposited to the account from sources outside of the customer's current relationship with Wells Fargo Bank, N.A., or its affiliates ... Interest is compounded daily. Payment of interest on Standard CDs is based on term: For terms less than 12 months (365 days), ... record retention guidelines human resources