Word: saversion
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The much heralded All Savers Certificates were supposed to bring an avalanche of deposits into the nation's desperately troubled savings institutions. Yet sales at both commercial banks and savings and loans are turning out to be somewhat of a letdown. Since they became available on Oct. 1, only...
The amount of money in passbook accounts has dropped by more than $50 billion since the beginning of the year; yet the mystery is why the total has not declined even more sharply and why anyone still keeps a substantial amount of money in a savings account. An avalanche of...
Today's high rates would not have been welcomed by anyone a few years ago, when the legal ceiling on interest the average saver could earn was the meager 5.5% paid on a passbook account at a savings and loan association or a mutual savings bank. The level is...
But for many savers the lure of 50% interest rates was almost irresistible. In ust a few days, an estimated 10,000 customers signed up for the A.S.C.s at Dime Savings Bank of New York, which was offering interest rates of up to 18% plus an up-front cash bonus...
To get the maximum interest, foreign depositors must convert their holdings into Canadian dollars, which traded at a 50-year low of 80.3? against the U.S. dollar as recently as a month ago. But that does not seem to deter some savers who say that the risk of a currency...