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News Story
Updated: 02/05/2017 08:30:01AM

Now’s the time: Hunt for higher rates on your bank accounts

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AP Photo/Martin Meissner, File

This Nov. 18, 2009, file photo, shows credit and bank cards with electronic chips in Gelsenkirchen, Germany. The year 2017 is shaping up as one of rising interest rates. For some people, that will mean loans and credit cards will become costlier. But for some bank and credit union customers, there’s also a benefit: the potential to earn more money.

By MARGARETTE BURNETTE

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The year 2017 is shaping up as one of rising interest rates. For some people, that will mean loans and credit cards will become costlier. But for some bank and credit union customers, there’s also a benefit: the potential to earn more money.

“If you’re willing to shop around for a higher yield now” on checking and savings accounts, says financial planner Eric Hutchinson, “you get the immediate benefit of earning more money. You’ll also be positioning yourself to take advantage of future rate hikes.”

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