Savings Account Interest Rates

Wouldn't this cause a bank run? Why are people keeping money there if they're getting charged 0.75-1% interest.

I used to have savings accounts with similar terms in the UK. They have a higher interest rate.https://www.moneysavingexpert.com/savings/savings-accounts-b...

Savings accounts are effectively giving you -8% right now

I'm not seeing anything like that. Here's the latest roundup of "the best rates" over at Bankrate [0], which includes some online-only banks. Highest I see there is 0.57%, with most at 0.4% and 0.5%.You might be able to scrounge up a few basis points somewhere if you're really determined and/or willing to meet some requirements. Still, even with our low-inflation these days [1], you're actually losing money in these savings accounts.Main point thou

Get higher checking interest rates without the hassle from required transactions.

It's unfair to compare it against a savings account. Even 1-year treasury bills would give you around 2% interest. It's just that banks are not willing to offer that premium to you.

all the other top savings accounts are currently 2% to 2.2%. i think they are not going to maintain that lead.

Big banks are still offering sub-1% rates:https://www.usbank.com/bank-accounts/savings-accounts/elite-...Compare that to a money market fund from a stock broker at 4.5%:https://www.schwab.com/money-market-fundsThe question is, how

Is it more negative than the 0.1% that a savings account is paying?

"in the bank earning 3.5%" Which bank are you using, I am getting only 0.1% or so.