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Archive for August 22nd, 2007

Discriminatory Interest Rates?

Just got back from my bank. I had to deposit some cash in my checking account. The teller handed me “Rate Information” sheet on various types of accounts the bank has. Having never had a savings account, I curiously went through the sheet. I see:

Balance
   Interest

$0 - $9,999
   0.1%


   …


   …

$50,000+
   4.4%

Who’s likely to have over $50,000 in savings account? [...]