Why does interest on savings go up and down? Most people would guess it's because of the bank making the choice to change rates, but it's more nuanced than that! Banks may pay higher rates on savings accounts during specific market conditions or depending on inflation, the economy and action of the Federal Reserve. Find out exactly how interest rates on savings accounts are determined and why they fluctuate in this week's episode of FinCap Friday below: 

Click here to access the Kahoot quiz and discussion prompt. If you're short on time for this activity, try our simplified No Tech version, containing embedded questions right in the slide deck!

Check out all the FinCap Friday episodes here! They're not date-dependent so many of the 195+ in our catalog dating back to August 2018 may work throughout the year!

About the Author

Yanely Espinal

Born and raised by Dominican, immigrant parents in Brooklyn, Yanely is a proud product of NYC public schools. She graduated from Fiorello H. LaGuardia High School in 2007 before going on to receive her bachelor's degree at Brown University in 2011. As a Teach For America corps member, Yanely taught third and fourth grade in Canarsie, Brooklyn. She received her master's degree from Relay Graduate School of Education in 2013. She spends her spare time making YouTube videos about personal finance on her channel, MissBeHelpful. Yanely also loves to dance, sew, paint, listen to podcasts, and babysit her 10 nieces and nephews!

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