How much interest is earned on a savings account?

Answer The interest offered on savings accounts changes over time and varies from bank to bank. In late 2009, interest rates on most savings accounts were in the range of 1.0 to 2.0 percent.Source:Bankrat... Read More »

Top Q&A For: How much interest is earned on a savings account

How do I calculate the interest earned on a savings account?

Dividing the Annual RateCalculate the periodic interest rate on the savings account by dividing the annual rate by the number of times interest is compounded per year. Most savings accounts compoun... Read More »

How to Calculate Daily Interest Earned on a Checking Account?

Some banks and financial institutions offer interest on checking accounts as an additional incentive for people to select them for their banking needs. Typically, checking accounts offer lower inte... Read More »

How do I calculate daily interest earned on a checking account?

Calculate Daily RateDivide the annual interest rate on your checking account by 365 to calculate the daily interest rate. For example, if the annual rate was 1.25 percent, the daily rate would be a... Read More »

What does interest rate mean to a savings account?

Many savings accounts offered by banks allow you to earn interest on the money you have on deposit. This interest often requires a minimum balance be maintained and isn't offered with every single ... Read More »