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Flick Fact: Have interest rates ever been lower than now?

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Question: Near-zero interest rates are a boon for those seeking a good mortgage or low payment on borrowing, but a bust for those hoping for a good return on a savings account or certificate of deposit. Have interest rates ever been lower than this?

Answer: Yes! During World War II, banks in Bloomington-Normal all lowered their interest-bearing savings to absolute total zero so any money earned by interest could instead be used for the war effort.


 

 

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