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Answered 2010-04-08 22:21:16

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.

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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.


An interest bearing account can be allowed withdraws immediately, like a regular checking account. A NOW account generally requires a seven day notice before money can be withdrawn. So they're similar, only one requires a notice to get money out of.


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.


a trust account means you trust the person that is opening the account, and a checking account means you will keep checking it to make everything is okay.


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.


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Karnataka bank in india has highest interest in savings account. For the amount kept between 7 to 45days you get 4.5% as interest


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.


When money is held in a checking account the money is liquid. It is always accessible. It can be withdrawn using checks, or electronic cards. A money market account however, is much like a certificate of deposit. It requires a larger amount of money in order to open the account and has a much higher interest rate.


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A checking account is an account where cash can be quickly withdrawn with the use of checks or debit cards. A current account is a financial asset account in accounting in which assets can be easily made liquid or have a turnover period of less than a year.


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Checking accounts are used for frequent credits (deposits) and debits (withdrawls). Whereas a savings account follows the idea of a piggy bank, where one saves a bulk of money for exceptional circumstances or goals.


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Money market accounts and checking accounts share a lot of similarities. One difference between the two includes a limit on transactions on the money market account. One may need to keep more than $10,000 in a money market account to avoid penalties, whereas a checking account can be run down to a zero balance usually without penalties occurring.


The difference between interest only financing and conventional financing is that you are able to make money without any investment on an interest only account only by depositing a maximum amount in an account which you leave for a set period of time where interest will accumulate. Conventional banking is used for more day to day banking purposes.


A check is a request to draw money out of your checking account in order to pay for something.


An orange account earns high interest, there are no fees attached and you do not need a minimum balance in your account. Most regular savings accounts have a minimum balance and really low interest rates.


Difference between interest-bearing and non-interest-bearing note.


A current account is an account in which money or cheques can be taken out or payments can be made at any time.A deposit account is an account in which money is placed and left for a period of time, and interest is earned.


A debt card takes the money out of an existing account, such as a checking account. A credit card accumulates a balance and bills you for the charges on a monthly basis.


The owner of an acount is the party responsible for the provision of sufficient funds to the account. A signer on an account is a party authorized by the owner to withdraw from the account. Example: Company ABC owns the account; Treasurer Mr. XYZ is authorized to withdraw funds (make payments, etc) from Company ABC account. The owner of the account can also be a signer of the account as in a personal checking account.



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