Answer: Basic Savings
Basic savings typically offers the lowest interest rate at 0.25 % per year. It was followed by a savings bond, then the money market savings at an interest per year of 1.75 to 1.9%. Certificate of deposit showed the highest at 2.3%.
Answer:
Basic savings
Explanation:
-Money market savings refers to an account that pays interests according to the rates in the money market and they tend to be higher than in a normal savings account.
-Certificate of deposit is a product offered by financial institutions in which people get an interest rate in exchange for maintaining an amount of money for a fixed period of time. The interest rate tends to be higher than in normal savings accounts and money market products.
-Savings bond is a government bond that provides a fixed interest rate in a specific period of time and it offers a higher return than savings accounts.
-Basic savings refers to a bank account in which you can deposit money and earn an interest rate which tends to be low compare to other financial products.
According to this, the answer is that the option that offers the lowest interest rate is basic savings.
