0
A Savings Bank Account is the basic type of bank account where customers can park or save their surplus cash. The money in the account is extremely liquid and can be withdrawn by the customer anytime they want. As a result, the interest rate provided by the banks on such accounts is also very less. In India the savings account interest rate is 4%. Banks may also give you cheque books and ATM/Debit cards to operate your bank account.
Wiki User
∙ 12y ago
Add your answer:
Earn +20 pts
Why can a bank afford to pay an interest rate on a savings account?
because the bank lends money out at a higher interest rate
What is the current interest rate on a standard saving account at Bank of America?
The current interest rate for a regular savings account at Bank of America is 0.05. This rate applies to custodial savings for youth accounts as well.
What is considered to be a high interest savings account rate?
High interest savings account rates vary, depending upon the bank a person selects. A higher interest savings account rate could be anywhere from 0.75% to 1.00%.
What are the best high interest savings account rates?
The best high interest savings account rates include Nationwide Bank, with a 1.04% rate, Ally Bank with a 1.03% rate, and American Express, with a 1.00% rate as well.
What is the current interest rate offered on savings accounts at ridgewood savings bank?
On a personal savings account the interest rate is 0.79. The same goes for a business account. Other accounts may have different rates which are on their website.
Why can a bank afford to pay an interest rate on a savings account?
because the bank lends money out at a higher interest rate
What is the current interest rate on a standard saving account at Bank of America?
The current interest rate for a regular savings account at Bank of America is 0.05. This rate applies to custodial savings for youth accounts as well.
What is considered to be a high interest savings account rate?
High interest savings account rates vary, depending upon the bank a person selects. A higher interest savings account rate could be anywhere from 0.75% to 1.00%.
What are the best high interest savings account rates?
The best high interest savings account rates include Nationwide Bank, with a 1.04% rate, Ally Bank with a 1.03% rate, and American Express, with a 1.00% rate as well.
What is an example of interest-bearing account?
An Interest bearing account is a bank account in which, the banks pays you an interest for keeping your money deposited in that account. Ex: Savings Bank Account - You usually get around 3.5% rate of interest on the money you hold in your savings account in India.
Is a bank savings account interest rate better than a CD?
No, CD rates are higher, but you cannot withdraw the funds as easily as a bank savings account.
Which bank provides the best interest on bank accounts?
There are several banks that offer high interest savings accounts. ING Direct has a good reputation for offering a high interest rate with excellent customer service. Ally National Bank and American Express also provide high interest rates on their savings accounts.
What is the current interest rate offered on savings accounts at ridgewood savings bank?
On a personal savings account the interest rate is 0.79. The same goes for a business account. Other accounts may have different rates which are on their website.
What type of interest rate can you expect from a high yield savings account?
Interest rates vary depending on the bank the savings account is in. For a high yield savings account, interest rates can be from 0.95-3.0% annual percentage yield.
What are the interest rates for a savings account from Chase bank?
Chase currently offers an interest rate of .5 on their savings accounts. These are not high rates.
What bank offers the highest savings account rate?
There are many banks that offer a higher interest rate savings account. Some of the highest rates can be found at EverBank, Ally Bank, Capital One, Barclays, and CIT Bank.
Where can interest rate savings be made?
One will find that interest rate savings can be made through one's local bank or credit union. One just needs to save money in a savings account, and/or in a money market account.
