Econintersect: The website GoBankingRates.com has provided a state-by-state tabulation of savings accounts and CD average rates by state across the country. The average rates vary by 167% from the lowest state (Arizona, 0.12%) to the highest (Rhode Island, 0.32%). Okay, so the real (inflation adjusted rates, using CPI = 2.0% February year-over-year) interest rates are negative. Using the same examples, Arizona has a real savings interest rate of -1.9% and Rhode Island -1.7%. For every $100 in a savings account in Arizona, on average the saver is paying $1.90 to have the bank "store" his money for a year. Of course that is cheaper than storing money in a mattress which costs $0.10 a year more.
Calculations not applicable to Cyprus.
Click on map for larger image.