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Commercial Bank and Checking Accounts

What is the current interst rate for a checking account?

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Answered 2011-01-23 04:26:26

Checking Accounts are also called as Current Accounts. A checking account is one in which customers keep some money and use it for their day to day transactions. The money in this account does not earn any interest and is available for usage to the customer at all times.

So the interest you may earn is either less than 1% or even 0 in many cases.

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Savings account has a higher interest rate than a checking account


form_title= Online Bank Account form_header= Bank from anywhere with an online bank account! Who is your current bank provider?*= _ [50] What is your current interest rate?*= _ [50] What account types do you own?= [] Checking [] Savings


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.


The interest rate for a savings account through Citibank Australia ranges from 0%-3.45%. Citibank Australia offers a multitude of different types of savings accounts all with different rates and fees.


A savings account may pay higher interest rate than a checking account. Also, you don't have bounced checks, and NSF fees, normally.


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.


First Robinson Savings Bank offers highest rate for opening a checking account and tax free products in Georgia.


savings bank account -4%p.a. both for senior as well as normal citizens


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


The main difference between a savings account and a checking account is that a savings account has an interest rate. A savings account is also mostly used for saving money, although, both accounts allow you to take money from them as you please.


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.


When shopping for a checking account you should look out for the one that offers:The best interest rateMost rewards and benefitsMinimum fees and service charges


Yes, provided thase are all in note form (no metal coinage). The bank will convert them into your local currency at their current exchange rate.


A variable interest rate on a current bank account would imply that the interest rate fluctuates over time. Market conditions will determine the value of the interest earned.


11 % (Octobre 2008) found on www.geld.at


Look for free checks, no ATM charges, and no minimum balance. Also look to see if you can get a checking account with a decent interest rate (comparibly to other checking accounts). I know CharlesSchwab online bank has good checking account rates.


The typical interest rate for a money market account at HSBC is 3.4% on a savings account, and nothing on the free checking option. This bank has associates that can assist anyone.


One of the disadvantages of a current account includes drawing a low interest rate, the initial paperwork when opening an account is lengthy and terms are difficult to understand.


A savings account is intended for saving money. As such, it has a higher interest rate. A checking account usually do not have an interest rate, but you can use checks and (for some banks) debit cards to withdraw money.


I don't think so, not without refinancing.


A checking account is one in which you keep a certain amount of money and use it for your regular day to day transactions. For ex: to pay your phone bill, to pay for your groceries etc. Banks usually do not give you a significant interest on your deposit in this account because of the liquid nature of the account and because you can withdraw your funds anytime you want. A savings account is one in which customers save their monthly savings and they are not like the current account. Though the money is available at any time for the customer to withdraw, money is not as frequently deposited/withdrawn from it like the current account. Hence banks offer a meager interest rate for the money held in this account.


A checking account is one in which you keep a certain amount of money and use it for your regular day to day transactions. For ex: to pay your phone bill, to pay for your groceries etc. Banks usually do not give you a significant interest on your deposit in this account because of the liquid nature of the account and because you can withdraw your funds anytime you want. A savings account is one in which customers save their monthly savings and they are not like the current account. Though the money is available at any time for the customer to withdraw, money is not as frequently deposited/withdrawn from it like the current account. Hence banks offer a meager interest rate for the money held in this account.


The compound annual growth rate of a Citybank current account changes from time to time. So if someone is intressted they should go to the Citybank and ask for information there.


The average interest for a checking account is 0.3%. One can check the following places for more information: My Bank Tracker, Market Place, Bank Rate, Go Banking Rates and many more.


You can open a checking account with any amount of money - There is no dollar requirement to open the account. There are dollar limitations to interest rates, however. For example, you may receive a higher interest rate on your account if the amount is over $5000 versus if the amount is $100.



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