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HomeTrading NewsSpecial tax break for charitable donations packs extra incentive for giving this year

Special tax break for charitable donations packs extra incentive for giving this year

MarketWatch

The average savings account now pays a pathetic 0.06%. Here 5 spots where your savings can earn way more

The national average interest rate for savings accounts is just 0.06%, according to Bankrate data from November. LendingClub is offering a 0.60% APY for accounts with at least $2,500, and Marcus by Goldman Sachs offers an 0.50% APY with no minimum, as does Chime, SallieMae, Synchrony and a handful of others, as you can see below. With Varo, for example, you start by earning 0.50%, but then can quality to get a 3% APY if you receive total direct deposits of $1,000 or more each qualifying period, keep a daily savings balance of $5,000 or less the entire calendar month, and keep your bank and savings account balances above or equal to $0.00 the entire calendar month.

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