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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.

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โˆ™ 2013-11-23 06:48:18
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Q: Is the interest rate paid on savings accounts generally less than the rate paid on checking accounts?
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Related questions

Which pays a higher rate of interest a checking account or a savings account?

Generally a savings account pays more interest, but there are some checking accounts that offer rates that are very competitive to savings accounts.


Why does a savings account make a better investment than a checking accounts?

Savings accounts earn interest.


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 is the advantage if a savings account over a checking account?

Savings accounts pay interest on the money in the account. Most checking accounts do not.


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.


Why does a savings account make a better investment than a checking account?

Savings accounts earn interest.


Why does saving accounts make a better investment than a checking account?

Savings accounts earn interest.


Do banks offer high interest return on checking accounts?

Banks 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.


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."


How is a checking account different than a saving account?

Both Checking Accounts and Savings Accounts are basic types of bank accounts provided by banks to their customers. The difference is: a. There are limitations on the number of trasactions that can be performed in a savings account on a per month basis whereas for checking accounts there are no limitations b. The interest rate offered by banks on savings account is much higher than what is offered on checking accounts because banks offer almost no interest in them


What bank accounts are offered at the Royal Bank of Scotland?

The Royal Bank of Scotland offers the two main types of accounts commonly referred to- the checking account and savings account. They also offer high interest checking and saving, and joint checking and savings accounts.


Who Has Best Interest For Business Savings Accounts?

An excellent comparison site for business savings accounts is DepositAccounts.com. The website also provides evaluations of economic checking and cash market accounts.

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