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Considering the amount of liquidity provided, the interest offered on savings accounts is good but the returns are not so great that we can claim it to be useful. The interest offered is not even equal to the nations inflation rate and hence maintaining large chunks of money in savings accounts is not a wise move.
Deposit the surplus in a fixed deposit and retain only the liquid cash that you may require in your savings account.
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∙ 14y ago
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Best saving account interest rates?
saving account interest rate is now 4% that is best
What is the primary factor that will affect how much is earned in a saving account?
The 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 savings accounts have the best rates according to Money Saving Expert?
The saving accounts that have the best interest rates according to Money Saving Expert is a Sandantar account which has a astonishing 3% annual interest rate.
What is current interest rate on saving account issued by rbi?
In India as of November 2011, the interest rates are 4% or above. banks can essentially set the rate of interest they choose to pay for money held in savings accounts to their customers
Best saving account interest rates?
saving account interest rate is now 4% that is best
When it comes to savings a good rule to thumb is to always what?
choose the saving account that has the lowest interest rate
What is the Difference between saving bank rate and Deposit rate?
deposit rate interest rate paid by the depository institution on the cash on deposit where as saving bank rate is interest paid by the banking institution on saving account holder which is calculated on daily basis and credited to customer account quaterly or semi annually.
What is the primary factor that will affect how much is earned in a saving account?
The 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.
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 savings accounts have the best rates according to Money Saving Expert?
The saving accounts that have the best interest rates according to Money Saving Expert is a Sandantar account which has a astonishing 3% annual interest rate.
What is the interest rate offered for a CItiBank savings account?
The interest rates offered in a CitiBank saving account varies depending on different things. The interest rates can be 3%+ and on some accounts up to 6%.
What distinguishes a direct savings account from a standard account?
A direct saving account is very similar to a standard account. One of the differentiating features is that a direct savings account has a higher interest rate.
How do you calculate interest in saving account Ethiopia?
the minimum balance witin the month times times pevailing interest rate multiplied by month and divide by 12
Where can one find online savings account interest rate for UK banks?
One can find online savings account interest rate for UK banks from Moneysupermarket, Love Money and Money websites. One can use these sites to compare the different interest rates for the saving account for UK banks online.
What is current interest rate on saving account issued by rbi?
In India as of November 2011, the interest rates are 4% or above. banks can essentially set the rate of interest they choose to pay for money held in savings accounts to their customers
