How Does Interest Savings Work in the Bank?

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How Does Interest Savings Work in the Bank? – This is a place for the community to provide tips and advice on How Does Interest Savings Work in the Bank?. This topic was created by alma mathiasson and the tips are provided by the community. The tips you add here can be your own or referred from another site. The best tips are then ranked at the top when up-voted by members of the community.

Tip 1 - How do savings accounts work? - HowStuffWorks

Published: 9 years, 7 month(s) ago | Submitted by Nicolas Barrancos | permalink

Savings accounts are a safe way to store and grow your money. Learn how savings account interest works and how to choose a savings account.
Tags: savings accounts, savings account, interest

For further reading: http://money.howstuffworks.com/personal-finance/budgeting/savings-accounts.htm ^[1]

Tip 2 - How to Calculate the Interest Rate for a Savings Account

Published: 9 years, 7 month(s) ago | Submitted by Alain Mauge | permalink

The money you place in a savings account will produce an income known as interest. This gain is a percentage of your current balance and is listed, by the bank, as an annual return. The money gained ...

For further reading: http://budgeting.thenest.com/calculate-interest-rate-savings-account-3700.html ^[2]