Savings & Retirement
Americans Sick of 0.01% Yields Create New Dilemma on Wall Street
- JPMorgan, Wells Fargo cite higher funding costs in NII drop
- Fed rate hikes opened up many other higher-yielding options
A Chase bank branch in New York.
Photographer: Angus Mordant/BloombergAcross JPMorgan Chase & Co.’s broad suite of consumer accounts, one number is just about everywhere: 0.01%.
That’s the interest rate on Chase Sapphire, Chase Premier Plus and Chase Private Client checking accounts, regardless if someone deposits $5 or $500,000. The same is true for Chase savings accounts, according to a fact sheet as of April 12. Those afforded “relationship rates” get a whopping ... 0.02%.