How much does a savings account earn?

Answer The earning of a savings account depends on the state of the economy and the location of the bank. As of November 2009, the online ING Direct was paying an annual percentage yield of 1.3 percent, w... Read More »

Top Q&A For: How much does a savings account earn

Is there a difference between the APY on a savings account& a high-yield money market account?

No, the formula for annual percentage yield (APY) is one plus the periodic interest rate. Then raise the sum to the power of the number of periods of investment. Finally, subtract one. The formula ... Read More »

What is the difference between a health savings account&a flexible spending account?

Health savings accounts (HSAs) and flexible spending accounts (FSAs) are ways to put money aside for future heath care costs. Both provide tax advantages, but the qualifications and functions of th... Read More »

Is a Money Market Checking Account Also a Savings Account?

Money market deposit accounts (MMDAs) are bank savings accounts that have some of the withdrawal capabilities of checking accounts. Some people think money market accounts are checking accounts bec... Read More »

For How Long Does a U.S. Savings Bond Earn Interest and How Is It Calculated?

U.S. savings bonds are issued by the U.S. Treasury and can be purchased at banks, through payroll deduction plans or directly from the Treasury at the TreasuryDirect website. With investment amount... Read More »