The 10 largest banks in the country offer an average interest rate of 0.036 percent for savings accounts, but the rate can vary widely from city to city, according to a survey by personal finance website WalletHub.
The interest rates offered by major banks operating in New Orleans, Houston, Boston, and Burlington, Vt., are 31-54 percent higher than the national average, the survey found.
The average annual yield for savings accounts in New Orleans is 0.055 percent. Boston is second at 0.053 percent, Burlington third at 0.050 percent, and Houston fourth at 0.047 percent.
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