Learn about per diem interest, how it's calculated, its role in loans like mortgages, and why it's essential for borrowers to understand before closing a loan.

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Taylor Tepper covered banking, investing and pretty much everything else in personal finance for more than a decade, with his work appearing in the New York Times, Fortune and MONEY magazine, as well ...

CIT’s Platinum Savings account pays 3.75% APY on balances of $5,000 or more. If your balance dips below $5,000, it earns a paltry 0.25% APY. If you tend to carry high balances — at least $5,000 — this ...