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Fintechs are competing to offer the highest interest rates for savings accounts

John Detrixhe
Fintechs are competing to offer the highest interest rates for savings accounts

Savings accounts that offer generous interest rates are emerging as a key battleground for financial upstarts. US robo-advisor Betterment is the latest to offer consumers a higher rate than they can get from a typical bank. The company is rolling out a savings platform that offers a 2.69% annual percentage yield, which is higher than the leading rate for US accounts shown right now on Bankrate.com of about 2.5%.