What is a bank rate?

A bank rate is the interest rate a nation's central bank charges other domestic banks to borrow funds. Nations change their bank rates to expand or constrict a nation's money supply in response to economic changes. In the United States, the discount rate has remained unchanged at 0.25% since March 15, 2020.

Are US bank savings rates accurate?

Rates are accurate as of February 1, 2024, for the New York ZIP code of 10001. Check U.S. Bank’s website to find rates in your area. Whether you’re shopping for a savings account as a consumer or a business owner, U.S. Bank’s savings rates are straightforward.

What is the benchmark interest rate in the United States?

The benchmark interest rate in the United States was last recorded at 5.50 percent. This page provides the latest reported value for - United States Fed Funds Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Does US Bank pay a single interest rate tier?

U.S. Bank pays a single interest rate tier, regardless of your savings account balance. And here’s what you may see if you look for savings rates on the U.S. Bank Elite Money Market Savings Account, which offers tiered interest rates based on your daily balance.