How Banks Decide Savings Account Interest Rates
Introduction: Why Savings Account Rates Are Not Random Many Americans believe that savings account interest rates are simply arbitrary numbers banks post on their websites, or worse, that all banks pay roughly the same rates. Neither assumption is…
How Savings Account Interest Is Credited Monthly in Banks
How Savings Account Interest Is Credited Monthly in Banks Understanding how your savings account earns interest isn’t just about knowing the annual percentage yield (APY) advertised by your bank. For the millions of Americans holding savings…