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The amount of money earned in a year by a savings account is called the?
ANSWER It is called "interest".
What is savings account called at a credit union?
A savings account at a credit union is generally called a share account.
WHAT IS IT CALLED WHEN money earned on savings accounts and other funds?
The money earned on savings accounts and other funds is called "interest." Interest is typically expressed as a percentage of the principal amount and can be calculated as simple or compound interest, depending on how frequently it is applied to the account balance. This earnings mechanism encourages saving by providing a return on deposited funds.
Which personal savings options are available from the American Express bank?
American Express offers a personal savings account with no fees, no minimum balance amount, and a competitive rate, called the High-yield Savings Account. They also offer an account called Certificates of Deposit, which has a competitive fixed interest rate.
When money is deposited in the bank for later use it is called?
When money is deposited in the bank for later use, it is called a savings account or a deposit account. These accounts allow individuals to store their money securely while earning interest over time. Depositors can access their funds when needed, making it a convenient option for saving and managing finances.
The amount of money earned in a year by a savings account is called the?
ANSWER It is called "interest".
What is savings account called at a credit union?
A savings account at a credit union is generally called a share account.
WHAT IS IT CALLED WHEN money earned on savings accounts and other funds?
The money earned on savings accounts and other funds is called "interest." Interest is typically expressed as a percentage of the principal amount and can be calculated as simple or compound interest, depending on how frequently it is applied to the account balance. This earnings mechanism encourages saving by providing a return on deposited funds.
Which personal savings options are available from the American Express bank?
American Express offers a personal savings account with no fees, no minimum balance amount, and a competitive rate, called the High-yield Savings Account. They also offer an account called Certificates of Deposit, which has a competitive fixed interest rate.
What is a savings account at a credits union?
A savings account at a credit union is generally called a share account.
When money is deposited in the bank for later use it is called?
When money is deposited in the bank for later use, it is called a savings account or a deposit account. These accounts allow individuals to store their money securely while earning interest over time. Depositors can access their funds when needed, making it a convenient option for saving and managing finances.
Money which is kept in an account for later use is called?
it is called a savings account.
Is there a monthly service charge to have an Eggs Savings account?
No, the Egg savings account called "Egg Savings Account (internet) Issue 2" does not have a monthly service charge. This type of savings account is accessible online.
What is the amount of money borrowed or deposited called?
The amount of money borrowed or deposited is called the "principal." In the context of a loan, it refers to the original sum of money borrowed before any interest is applied. For deposits, it signifies the initial amount placed into a financial account. The principal is crucial as it serves as the basis for calculating interest earnings or payments.
What is the record book for a savings account called?
It is called a passbook.
A What is the money called that you earn on a savings account?
interest
What is difference between OD and CC account?
Cash credit Account (CC)This account is the primary method in which Banks lend money against the security of commodities and debt. It runs like a current account except that the money that can be withdrawn from this account is not restricted to the amount deposited in the account. Instead, the account holder is permitted to withdraw a certain sum called "limit" or "credit facility" in excess of the amount deposited in the account.Cash Credits are, in theory, payable on demand. These are, therefore, counter part of demand deposits of the Bank.Overdraft (OD)The word overdraft means the act of overdrawing from a Bank account. In other words, the account holder withdraws more money from a Bank Account than has been deposited in it.
