I agree, there are online/digital banks that are offering better rates for an annual rate if you ever choose them to deposit your money. And the catch is that you're also free to withdraw it anytime at your own will.
Before, I was a fan of time deposits but I've learned it all along that it's good to get into it if the rate defeats the inflation rate that your country is experiencing. Otherwise, it's much better not to keep it there and find a better asset or investment that will earn more than the inflation rate so that you'll retain your wealth and its value.
All banks offer poor interest rates that can't compete with the increasing inflation, even at normal periods when it isn't spiking like it currently is. The only way to counter inflation is by investing in assets, such as stocks or bonds.
Definitely.
That is the reason why all of the banks are good as storage of money, for safe keeping. But as a place to get to as an investment, you'll get barely enough from them and can't even defeat inflation through their products.
The good thing with these struggles is we keep looking on better ways to manage these inflation rates and that's why some assets came out as good options such as Bitcoin, real estate, bonds and other instruments that we can choose.