Page 12 - aruba-today-20230425

A12 BUSINESS
Tuesday 25 april 2023

Ambassador suites
eagle beach
1 Br WK # 14 room 1232 $7200
1 Br WK # 14 room 1333 $8400
1 Br WK # 14 room 1235 $7200
1 Br WK # 14 room 1132 $7800
Call:011-297-630-1307
A worker, right, cleans an ATM as a customer uses another at johnnypaesch@gmail.com
a Chase branch in the Queens borough of New York on March www.halleytimetravelaruba.online
24, 2020.
Associated Press Ambassador suites
Banks are paying savers eagle beach
1 Br WK 15 room # 1429 $4500
again after many years 1 Br WK 16 room # 1132 $4020
1 Br WK 16 room # 1432 $4500
of low rates 1 Br WK 16 room # 1227 $3600
Call: 011-297-630-1307
johnnypaesch@gmail.com
www.halleytimetravelaruba.online
By KEN SWEET only heightened after the
AP Business Writer failure of Silicon Valley Bank Casa Del Mar
NEW YORK (AP) — Ameri- last month. A mass exodus eagle beach
cans are finally reaping of deposits in a short pe- 2 Br WK # 13 room 1508 $17 K
some benefit from keeping riod of time doomed that 2 Br WK # 13 room 1509 $14 K
their money in the bank. bank, and led depositors 2 Br WK # 13 room 1214 $14 K
Banks are paying up for at other midsize institutions 2 Br WK # 13 room 1305 $16 K
savers’ deposits in a much to pull some of their money 2 Br WK # 13 room 1216 $18 K
bigger way than they have as well, although the with- 2 Br WK # 13 room 1513 $16 K
in more than a decade, drawals appear to have Call:011-297-630-1307
based on recent earnings abated for now. johnnypaesch@gmail.com
reports from the nation’s In a sign of how competi- www.halleytimetravelaruba.online
biggest banks. tive it is getting for bank
After a decade of low in- deposits, electronics giant Casa Del Mar
terest rates, the Federal Apple Inc. unveiled a sav- eagle beach
Reserve has unleashed a ings account that will pay 2 Br WK 14 room 1301 $16 K
rapid series of rate hikes to a 4.15% yield for Apple 2 Br WK 14 room 1308 $14 K
combat inflation, pushing Card users. The savings 2 Br WK 14 room 1305 $16 K
up its benchmark rate to a account is in collabora- 2 Br WK 14 room 1313 $9,5 K
range of 4.75% to 5%. That tion with Apple’s consumer 2 Br WK 14 room 1216 $ 18 K
has prompted banks to banking partner Goldman 2 Br WK 14 room 1513 $ 16 K
pay higher interest on tra- Sachs and actually pays Call:011-297-630-1307
ditional savings products out more than the 3.90% johnnypaesch@gmail.com
like money market funds, Goldman pays for deposits
certificates of deposit and under its Marcus brand.
regular savings accounts. Bank of America, the sec- Casa Del Mar 2BR/2B:
A 24-month CD, a com- ond largest bank in the Week 2/unit 1113 (18k);
mon savings product for country, told investors last Week 5/unit 1315 (20k);
medium-term savers, is week that it was paying Week 8/unit 1113 (19k);
now carrying an average on average 1.38% to cus- Week 8/unit 1409 (19k);
yield of 4.81%, accord- tomers for their deposits, Week 10/unit 1207 (17k);
ing to the Federal Reserve up from 0.96% a year ear- Week 13/unit 1509 (14k);
Bank of St. Louis. That’s up lier. That figure is still low Week 14/unit 1308 (14k); and,
from a 1.18% yield only a for BofA because the bulk Week 15/unit 1217 (10k).
year ago. Further, non- of customers’ funds are in CdMOwner@gmail.com
bank names such as Apple checking accounts, which us(Call/Text): (860)992-3890
are getting into the deposit typically pay the lowest
game, giving savers even yield. q _______________________________216163
more options.
To bolster their deposits,
banks are raising payouts
to retain current custom-
ers and entice new ones.
Some investors, leery of
the current volatility in the
stock and bond markets,
could find a zero-risk in-
vestment like a savings ac-
count or CD an attractive
option. The volatility was