How much interest do you get in your saving accounts?

[Passiveearner]

I hate interest money and this is why I never pay or earn interest, as I am a religious person. Interest may also damage the economy if a country.

 

[Starmix]

I see my savings, they don't move to mean no interest of my total deposits. But it's just for safety and for bank to gain.

 

[Hate2Wait]

Most of the banks are paying very low interest rate for the savings account and it's mostly 3 to 4 percent only

 

[Starmix]

Here, it does not reach 3 or 4 percent. It seems 1 percent according to bracket.

 

[Passiveearner]

I do not have a savings account and I do not plan to open any kind of savings account. I prefer trading in assets and making money by trading in assets rather than earning interest.

 

[Hate2Wait]

We can earn only 3-4 percent interest on our savings and if we constantly withdraw and deposit then the rate will be even lower

 

[cherry123]

I don't think my savings account gives a lot of interest because I hardly noticed such but it might just be 1% interest.

 

[Hate2Wait]

It's not even worth keeping money to save in a bank account so it is better to save a minimum amount or emergency amount that you can withdraw when you need

 

[Passiveearner]

I really do not like interest because it is prohibited in my Holy religion of Islam. Having said that, interest-based economies never gain success. The US federal reserve has been increasing interest for a long time, but the conditions of the US economy is getting worse by the passage of every day.

 

[Springtime]

Yes, I have money in savings account and fixed deposit account. For savings account, I get about 2.5-3% interest rate. For 6 month term deposit, the interest rate is 6%.

 

[cherry123]

In Nigeria I think we can only get good interest with fixed deposit because I get almost nothing with my savings account

 

[Hate2Wait]

I am getting around 4% interest on my savings and since I have an FD too so around 7% on that one

 

[Passiveearner]

Since the federal reserve has increased interest so much, this has impacted poor countries across the world. At a lower level, earning interest could also have an impact in the Economy. I prefer trading and earning profits rather than earning Interest. Trading us far much more beneficial than earning interest.

I am getting around 4% interest on my savings and since I have an FD too so around 7% on that one

 

[Hate2Wait]

This is why its important to invest as this way we can expect some profit otherwise banks are paying a very low interest

 

[Passiveearner]

Many people do not realize that earning interest is actually useless. What is the point of earning just 2 percent of interest. On the other hand, you can earn much more by investing money? I do not earn interest because I am a Muslim and my religion does not allow me to earn interest. This is why I prefer financial investments rather than earning interest.

This is why its important to invest as this way we can expect some profit otherwise banks are paying a very low interest

 

[Hate2Wait]

All banks are paying a very low interest on savings accounts and if we opt for FD then the interest is from 6 to 7.5 %

 

[Passiveearner]

This is exactly one of the main reasons why I never even think about earning interest. Six percent or even seven percent of total capital is nothing. A person can earn much more by investing money in assets such as gold, silver, cryptocurrencies, stocks, and other assets.

 

[Ratine]

I think that the banks in my country don't earn interests on savings accounts and l have never received any.

 

[Hate2Wait]

All private and public sector banks are paying a very low interest on all saving schemes and you can earn more than 6% interest on fixed and recurring deposits that are of long duration.

 

[Nite]

Low interest rates can affect savings and investment decisions, as well as overall economic growth.