The 9-question rate reality check
Use this checklist before reacting to any attractive money market or savings-rate claim.
- Who is the legal provider?
- Is the rate APY, APR, or an example?
- Is the rate variable?
- Is there a minimum or maximum balance?
- Are there monthly fees?
- Are withdrawals limited or delayed?
- Does any protection apply?
- Is there pressure to act immediately?
- Is sensitive information requested too early?
A legitimate explanation can survive slow reading. Pressure usually cannot.
Educational example only. This article is not an offer, recommendation, or promise of earnings.