Ask The Banker: Look online for best interest rates for deposits

Interest rates for deposits remain low, but Oregon Pacific Bank President and CEO Ron Green said there’s an online resource that can help.

Posted: Feb 28, 2019 3:15 PM
Updated: Feb 28, 2019 3:15 PM

EUGENE, Ore. -- Interest rates for deposits remain low, but Oregon Pacific Bank President and CEO Ron Green said there’s an online resource that can help.

How can I find the best interest rates for my deposits?

Green said you can look through your phonebook or Google all the local banks and start calling around and asking for rates. But there’s an easier way.

A great online source called bankrate.com allows you to find all CD rates, deposit rates, money market rates and interest rates. You can check rates for all the banks in your area and nationwide.

Still, Green said it’s important to think about what your objective is. If you have a $100,000 deposit and you can get a quarter percent higher at a bank down the street, that’s $250 a year. Is that going to make a significant difference in your lifestyle and your income?

So Green said it’s important you talk to your banker, identify what your needs and objectives are, and maybe a DC or the highest rate is the best option, but maybe not.

If you have a banking or finance question for Green, click here

Oregon Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 32994

Reported Deaths: 547
CountyConfirmedDeaths
Multnomah7204138
Marion469594
Washington454060
Umatilla298741
Clackamas242061
Malheur163327
Lane123417
Jackson11615
Deschutes85212
Yamhill76213
Jefferson5418
Polk53215
Linn52213
Morrow5056
Lincoln48213
Union4462
Benton3146
Wasco2963
Klamath2802
Hood River2520
Douglas2334
Clatsop2170
Josephine1982
Columbia1791
Coos1570
Baker942
Crook621
Tillamook530
Lake330
Curry310
Wallowa311
Sherman180
Harney120
Grant100
Gilliam80
Unassigned00
Wheeler00
Eugene
Broken Clouds
69° wxIcon
Hi: 89° Lo: 51°
Feels Like: 69°
Corvallis
Clear
63° wxIcon
Hi: 88° Lo: 50°
Feels Like: 63°
Roseburg
Clear
77° wxIcon
Hi: 96° Lo: 55°
Feels Like: 78°
North Bend
Overcast
63° wxIcon
Hi: 79° Lo: 56°
Feels Like: 63°
KEZI Radar
KEZI Temperatures
KEZI Planner

LATEST FORECAST

Community Events