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Is high interest checking bad?
High interest checking is an incredible deal. Not a lot of banks are offering high interest checking anymore, especially with the economy in the shape it is in. Even the rates of back CD have dropped dramatically over the last several years.
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."
Does Bank of America offer a high yield checking account?
Bank of America offers a high yield checking account. They call the account an advantage with tiered interest checking account. The idea behind the account is to leave a lot of money in there for it to gain interest.
Why do very few financial institutions offer interest checking accounts?
The primary reason interest checking accounts are hard to find is because of how they work. Interest checking accounts provide a mid to high interest rate on money in an account, along with the ability to write checks and transfer money. An interest checking account is a mix between an easily accessible account, which allows you to use checks and debit cards, and a high interest account, which usually doesn't allow the freedom to use checks.
Which Canadian banks offer high interest checking accounts?
Schwab Bank is one of the highest Canadian banks that offer high interest checking accounts. As of March 13, 2013, their annual percentage yield is 0.10 percent.
How can interest rate help indicate the health of a countrys economy?
The risk of a nation is based on the interest rate...high rate bad health of country economy, low interest rate better situation
What are the odds that the interest rates will return to greater than 5% on high interest CD's?
The odds are pretty good that interest rates will return to greater tahn 5%. We are in an economic downturn right now, but the economy was strong before, and it will be strong again.
What are some benefits of a high yield checking account?
A high yield checking account will allow you to make more interest off of your money provided that you have enough money invested to qualify for a high yield account.
What is good about interest-Bearing checking account?
There are many benefits one can receive on bank accounts which pay interest. Some of these include earning money while saving ones own. Some banks will waive service charges if ones account remains above a set dollar amount.
What factors will shift the supply and demand for currency?
Confidence in the economy. If the economy of the country is doing good, it is likely that the confidence in that currency is high, raising the demand. However, when the economy is sloppy, the lack of confidence brings down the demand level. Level of exports and imports Relative income changes (Higher income in other countries => go on holidays and thus rising demand for other currencies.) Relative interest rate (High interest rate => high return => people invest more in it)
Do you know if banks will still give high interest rates on savings accounts compared to a regular checking account?
Most savings accounts hold little to no interest rate currently. They are basically the same as a checking account. If you are looking for higher yield interest, consider purchasing a CD.
What is the difference between a checking and savings account in terms of interest rates?
Usually, most checking accounts don't pay interest at all or if they do, a very high minimum balance is needed. Usually when it is available, savings does have more interest paid, but not a significant amount more. Because checking accounts are made to be used, interest is often lower. Savings, and variations of it, tend to be higher because it is not touched...as often.
