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Why do bank accounts receive interest?

Updated: 8/19/2019
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Zoner9

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11y ago

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156.08 duhhh

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Q: Why do bank accounts receive interest?
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Related questions

What is bank account interest?

interest charged to bank accounts


Does Chase bank have free checking accounts?

Chase Bank does have free checking as long as you have a minimum balance of 100 dollars. there are also interest bearing checking accounts were if you maintain a balance of at least 1500 dollars your account will receive interest on your checking account.


What interest rates does Military Bank Online offer on their savings accounts?

There are many interest rates offered by Military Bank Online on their savings accounts. The interest rates that Military Bank Online offers on their service accounts are as low as 3%.


Which banks offer interest accounts?

The banks that offer interest accounts are Ally Bank, Mutual of Omaha Bank, Citibank and a average bank should have that. Compare the interest rates at best rates to get the best.


Are interest on bank accounts taxable?

yes


How are business bank accounts different from personal bank accounts?

Business bank accounts tend to allow more withdrawals and have different rates of interest from personal banking accounts.


Where could you compare different bank accounts?

Online companies such as Find A Better Bank or Money Buddy offer a comparison tool which allows you to compare different bank accounts. You can compare the fees, interest rates and when interest is paid of the bank accounts.


Which bank provides the best interest on bank accounts?

There are several banks that offer high interest savings accounts. ING Direct has a good reputation for offering a high interest rate with excellent customer service. Ally National Bank and American Express also provide high interest rates on their savings accounts.


Where do you put loan interest and bank overdraft in final accounts junior cert?

interest on bank overdraft.


Does the bank open accounts for children and does the bank pay interest?

Yes but it depends on the bank.


What is the interest rate today for bank accounts?

10.75%


Why you need exponents in our real life?

it deals with bank accounts and interest (compounding interest)