The average interest rates paid on certificates of deposit by Kansas City area banks and credit unions are up to 18 percent behind the rates paid in other areas of the country.
A study by GoBankingRates.com showed that the average annual percentage yield (APY) of a two-year CD in Kansas City is at 0.37 percent, far lower than the national average of 0.43 percent. Kansas City also lags in one-year CDs, 0.22 percent compared to 0.27 percent, and in six month CDs, 0.15 percent to 0.18 percent.
"It's…
↧