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Q: Why do long term saving accounts pay higher rates of interest?
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What is the best type of saving accounts to get?

The best savings accounts are the ones with the highest interest rates. Try an online bank like ING, they have low overhead and thus have much higher interest rates for accounts than traditional banks.


What savings accounts have the best rates according to Money Saving Expert?

The saving accounts that have the best interest rates according to Money Saving Expert is a Sandantar account which has a astonishing 3% annual interest rate.


Which has a higher interest rate checking or saving?

Generally a savings account pays more interest, but there are some checking accounts that offer rates that are very competitive to savings accounts.


What are high yield saving rates?

High yield saving rates are simply savings accounts that pay a greater amount of interest from the financial institution to the account holder. As such, these rates require a greater amount of money to be committed to accrue higher rates of return.


How can you find the banks with the highest interest rates for saving accounts?

One bank that has high interest rates for saving accounts is Capital One. Other options are EverBank, CIT Bank, Barclays Online Savings, SallieMae, and Discover.


What is the definition of saving bank?

A savings bank is a bank that is dedicated to savings accounts. They don't have all the freedoms of a checking account, but pay higher interest rates.


What are some of the 50 highest money market rates and high interest savings accounts?

Some of the fifty highest money market rates and high interest savings accounts can be found at many banks. For instance, PNC offers high interest saving accounts.


What are some of the best banks with the highest interest rates for savings accounts?

Some of the best banks with the highest interest rates for saving accounts are the Bank of England, the Bank of Switzerland, and various banks in the Cayman Islands.


What is the interest on savings accounts?

Savings accounts with traditional banks typically do not have high interest rates. Banks such as Ally or ING Direct offer slightly higher interest rates that are approximately .75 to 1 percent.


What is the interest rate offered for a CItiBank savings account?

The interest rates offered in a CitiBank saving account varies depending on different things. The interest rates can be 3%+ and on some accounts up to 6%.


What are the interest rates for a ING savings account?

The interest rates for most ING savings accounts vary between 0.5% and 3% The higher rates are for accounts where a limited number of withdrawals are allowed in any one year.


What is the current interest rate for a saving account?

Currently (2009), interest rates on savings accounts are very very low. Different banks have different interest rates. In India as of November 2011, the interest rates are 4% or above. banks can essentially set the rate of interest they choose to pay for money held in savings accounts to their customers