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Sorry. Not a 'one-size-fits-all kind of answer since each financial institution has its own adopted and published interest-crediting practices. You have to contact your financial institution to find out what your account's rules are.
Answer:
You do not earn interest on current accounts. Because of the high liquidity offered in current accounts banks do not offer interest on the balance maintained in those accounts.
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∙ 15y ago
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Is the interest on current account higher than that of the saving account?
Of course not,current account does not have any interest,due to the withdrawal of the money for business at any time.
Interest on saving account and current?
Interest on Savings acc = 3 - 4% Interest on current acc = 0%
How can i Know whether current account provide same interest like saving account in UAE?
A current account is an account where the level of activity is far more than savings. It is often referred to as a check in account and is made to do frequent transactions as a result most of the times it does not have balance in it. In such cases, current account in banks in does not offer any interest on the account balance . They are 0 interest accounts.
What if Jennifer deposited 10000 in an account that earns compound interest. The annual interest rate is 8 and the interest is compounded 2 times a year. The current balance in the account is 10?
No. If the account is earning interest the current amount should be greater than the initial deposit.
What type of bank account typically offers no interest rate?
A current account.
What does a variable interest rate on my current bank account imply?
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.
What are some current account interest rates?
Depends on the countries, current account interest rates can be different. For example, one bank can have a 0.35% where other bank has a rate of 0.5%.
What are the advantages of having a current account plus?
Current account plus is a good option for customers as it has a tiered interest rate. The higher the balance, the more interest the customer earns. It also has a joint account facility.
My current account gives me interest on my savings and my Mom says that it's better off to open up a savings account Why?
If you want a higher rate of interest compared to what you get on your current account you will need to look for a savings account. If you are keeping a lot of money in your current account you may be missing out. Compare rates and see if there is an account that would suit you better.
Is interest receivable considered an account receivable or other current asset?
It is considered a current asset as in it is not an account and should have a seperate t chart.
What are the current interest rates on the esavings account?
There are many different interest rates available for an eSavings account. The rate of an eSavings account will largely depend on where one chooses to bank at.
What is the current interest rates on a Halifax guaranteed reserve account?
what is the interest on£ 50,000 with Halifax guaranteed reserve
