In the context of savings, identify a true statement.
A) Interest rates on savings accounts have typically been uniform across banks.
B) Online savings banks have often provided higher interest rates than traditional banks in recent years.
C) The Federal Deposit Insurance Corporation is not eligible to insure deposits made in online savings banks.
D) The Federal Deposit Insurance Corporation (FDIC) insures individual deposits up to $550,000 per account in FDIC-insured banks.

Question

Quizplus · Accepted Answer

Online savings banks often have lower overhead costs, allowing them to offer higher interest rates compared to traditional banks.

In the Context of Savings, Identify a True Statement