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Can certain banks allow you to gain interest on a checking or savings account?
Wiki User
∙ 12y ago
Yes! All banks offer many kinds of Checking and Savings accounts. Typically Savings accounts earn higher interest rates than Checking accounts. There are a couple savings accounts that earn the most interest: Money Markets and CD's (Certificate of Deposits). Money Markets are great because most banks allow you to write a few checks each month, however you usually have to maintain a pretty high balance (this varies at different banks.. ask about it at your bank). CD's are great because they earn an even higher interest rate however unfortunately you are not supposed to withdraw from them. and can be charged a fee for doing so. When you open up a CD you chose a certain amount of time to set all of the money aside in that account. The times are usually 6 months, 11 or 12 months, 18 months, 24 months, 3 years, 4 years, and 5 years however different banks will offer different amounts of time. No Catch CD's are rarely offered but are great because they allow you to withdraw once without receiving a penalty fee. You open up a CD if you have some extra money you are able to set aside for a while that will earn high amounts of interest for just not touching it!
Wiki User
∙ 12y ago
Wiki User
∙ 12y agoBanks typically only offer a high interest return in a savings account, not a checking account. Some banks allow unlimited transfers between savings and checking accounts, so you could get a high interest savings account and transfer money as necessary to your checking account.
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Which has a higher interest rate checking or saving?
Generally a savings account pays more interest, but there are some checking accounts that offer rates that are very competitive to savings accounts.
What are the disadvantages of using checking accounts?
Many checking accounts do not offer interest on the money in your savings account. This is a disadvantage because the money you put in a savings account will collect interest, where a checking account will not.
What amount of money in a checking or a savings account upon which interest is based?
The amount of money in a checking or a savings account is the balance. The interest is usually based on the balance.
What's one difference between a checking account and a savings account?
savings account earns interest.
What makes a savings than a checking account account a better investment?
A savings account earns interest.
What is the purpose of high interest checking?
"A high interst checking account is a type of checking account that earns interest. Usually these accounts have higher interest than a regular checking account, but not as high as a savings account."
Are there more fees in a checking account compared to a savings account?
Most checking accounts have no fees. Savings account has more fees than checking accounts because of the higher interest yields available in a savings account.
Does BB and T checking account earn interest?
No, only their savings account accrues interest.
Which bank in has the highest interest in checking and savings account?
Karnataka bank in india has highest interest in savings account. For the amount kept between 7 to 45days you get 4.5% as interest
What makes a saving account a better investment than checking account?
A savings account earns interest.
Is the interest rate paid on savings accounts generally less than the rate paid on checking accounts?
Actually it is the other way round. The interest rate paid out on a savings account is generally more than that paid out on a checking account. Checking accounts offer very little or no interest at all in most countries whereas savings account offer a small interest rate.
Why is a savings account better than a checking account?
A savings account may pay higher interest rate than a checking account. Also, you don't have bounced checks, and NSF fees, normally.
