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Americans saved significant amounts of money during the early days of the pandemic, given the prevailing uncertainty.
Like many aspects of daily life over the past two years, the recent history of how Americans save money bears the fingerprints of pandemic-era aberration.into savings accounts — the largest en-masse money-saving activity since 1981. That pushed the US personal savings rate, which measures personal savings as a percentage of disposable personal income, to a peak of 34%.
From his perspective, high-interest savings opportunities are the key to increasing the personal savings rate. The bank's commitment to frictionless customer experience is part of its ethos: Bask is completely digital, so moving at the speed of a fintech startup is the norm. But it also provides the service, support, and stability of Texas Capital Bank, a 22-year-old, FDIC-insured institution with several full-service branch locations as well as its own digital presence.
"At the end of the day, savvy savers are playing a long game," Quale said."That's true whether they are building their mileage balances to travel or benefiting from one of the country's highest interest rates."
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