answersLogoWhite

0


Best Answer

Interest earned in a bank account is not an investment. It is considered an income. The money that you have in the bank account that earned the interest for you is considered the investment

User Avatar

Wiki User

โˆ™ 2011-01-24 04:06:06
This answer is:
User Avatar
Study guides

The law is derived from three main sources what are they

If there is an erroneous payment then

These funds last 5 years have limited use and cannot pay for new obligations

How do you know which transactions are awaiting your approval

โžก๏ธ
See all cards
3.72
โ˜†โ˜…โ˜†โ˜…โ˜†โ˜…โ˜†โ˜…โ˜†โ˜…
32 Reviews

Add your answer:

Earn +20 pts
Q: Is the interest earn t in a bank account classed as an investment?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

What are the elements of investment?

if a man opens a bank account and keeps a certain sum at certain rate of interest he will get back money with interest when he with draws money, a bank account represent only the investment element.


What is bank account interest?

interest charged to bank accounts


What is entry for interest credited into Bank account?

bank account debit and interest payable credit


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.


How do I Access my investment account?

if your investment is in a bank go on line to the bank website and look for investments and if you have a account all you need to do is put the # or code in....... try it, it might work


What is a bank account you keep money in and get paid interest?

savings account


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


Is bank interest classed as revenue?

Yes. The interest earned by the bank is revenue to the bank and the interest paid by the bank to its deposit customers is revenue for the customer. Either ways it is considered an income or revenue. And, the person earning this revenue is liable to pay taxes for it.


What interest bank will pay on saving account?

The interest a bank will pay on a savings account will differ from country to country. For Ex: the Rate of interest on a savings account in India is 3.5% whereas the interest on savings accounts in USA are around 1%. You need to check with the exact bank about the prevailing interest rate on savings accounts.


What is sent by the bank regularly?

If you have an account in the bank then you generally wil receive interest for any money you have that is in the account. That is what is sent from a bank regularly.


What is the standard interest rate on an interest bearing checking account at Chase bank?

The standard interest rate on an interest bearing checking account at a Chase bank is 0.01%. They have a variety of checking accounts with the same interest rate or less.


What type of bank account typically offers no interest rate?

A current account.

People also asked