Yes. banks can essentially set the rate of interest they choose to pay for money held in savings accounts to their customers
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.
Primarily RBI holds the power in deciding the interest rates along with other banks which are associated with this regulatory body. Up until late 2011, RBI Decided the Interest rates that banks offered on Savings Account. However, recently the RBI Deregulated this policy and gave banks the freedom to set their own interest rates on savings accounts provided they gave a minimum of 4% on them
Chase currently offers an interest rate of .5 on their savings accounts. These are not high rates.
The typical interest rates on a savings account is around one to three percent. You can ask bank of america or us bank. Wells Fargo offers the highest percentage on savings.
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%.
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.
Primarily RBI holds the power in deciding the interest rates along with other banks which are associated with this regulatory body. Up until late 2011, RBI Decided the Interest rates that banks offered on Savings Account. However, recently the RBI Deregulated this policy and gave banks the freedom to set their own interest rates on savings accounts provided they gave a minimum of 4% on them
Chase currently offers an interest rate of .5 on their savings accounts. These are not high rates.
With around five different savings plans to choose from Scotia definitely offers competitive interest rates. Some of their plans are as follows: a daily interest savings account, power savings account, money master savings account, and a money master for RSP's account.
The typical interest rates on a savings account is around one to three percent. You can ask bank of america or us bank. Wells Fargo offers the highest percentage on savings.
The means of determining interest rate. Money market account interest rates are variable and track the money market. Savings account interest rates are usually fixed.
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%.
Bank of America and Suntrust offer very similar interest rates on savings accounts. For up to date information on savings accounts check bankrate.com
The current savings interest rate in India is 4% per annum. It was only 3.5% in the year 2005. This is one of the highest interest rates in the world in terms of savings account interest rates. Developed countries like USA and Singapore offer interest rates of less than 1% per annum.
Savings account interest rates can vary depending on where you're banking. These can rand from 2 percent all the way down to .65 percent. This also depends on where you have your account and how long you've had it for or if you open an account up during these interest rate deals.
With a high interest savings account, the saver can get a large return on their savings. At current rates, the interest can range between 3-5%. However a large amount of accounts with higher interest may impose a penalty if you withdraw from that account.
Generally a savings account pays more interest, but there are some checking accounts that offer rates that are very competitive to savings accounts.