How the Federal Reserve impacts personal loans
The Federal Reserve held rates steady at its January 2026 meeting.
Pippin Wilbers is a former Bankrate editor and a Certified Credit Counselor™. He joined the Bankrate team in 2021 and works on helpful content about banks, consumer loans and mortgages. Pippin is passionate about helping borrowers stay up-to-date and feel empowered to make the best choices in a changing and challenging borrower environment.
Pippin stays on top of industry news sources, such as TransUnion and Experian. Working with Bankrate's skilled reporters, he analyzes industry data and the latest political moves and asks: "What does this mean for borrowers?"
Pippin lives in Denver. Before joining Bankrate, he brought vital news to his Missouri community as a small-town newspaper reporter. In his spare time, he enjoys foraging for mushrooms, reading and dabbling in amateur entomology.
It's a strange time for consumer finances, with the Fed lowering rates under political pressure while both inflation and mortgage rates stay stubbornly high. Even the experts have a tough time predicting what will happen next. But the fundamentals of personal finance haven't changed: Put your savings in the highest-yielding account you can find, keep your credit spending as low as you can and compare before you commit to any credit product.
The better you understand how loans work and how lenders think, the better equipped you are to save on your loan.
— Pippin Wilbers
Ally Bank is a well-known online bank that offers competitive interest rates. Here's everything you need to know about its high-yield savings account.
Nationwide does not directly provide refinance auto loans to drivers, but serves customers through its relationship with Axos Bank.
Shift allows car shoppers to buy used online and finance through one of its partner lenders.
Read our experts' review on Live Oak Bank's features and product offerings. Bankrate reviews and compares hundreds of banks to help find the right fit for you.
TD Bank offers savings accounts with tiered interest rates. However, even with the best rate available, you can find other banks offering higher yields.
Barclays is an online bank that offers competitive interest rates. Here's what you need to know about its high-yielding online savings account.
Bank of America offers you a number of savings accounts to park your money. However, the yields offered by the big bank will do very little to help you grow your savings. You can find several alternatives from other banks that will get you a much bigger payout.
Read our experts' review on Synchrony Bank's features and product offerings. Bankrate reviews and compares hundreds of banks to help find the right fit for you.
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