US Banks Raising Savings Rates to Keep Customers From Running Due to SVB Collapse Jitters

A security guard at the failed Silicon Valley Bank monitors a line of people outside the office in Santa Clara, Calif., on March 13, 2023. Justin Sullivan/Getty Images

American banks are currently raising their savings rates to keep customers from running due to jitters following the collapse of Silicon Valley Bank (SVB) and Signature Bank.

The ongoing crisis in the banking industry is pushing lenders to offer more perks for customers, USA Today reported.