The answer depends on the interest rate, deposit balances and time. The higher the rate, the faster a savings account will grow. Also, because of compounding, the more often interest is deposited ...
With a 5% interest savings account, you will earn far more compounded interest on your initial deposit and compounded balance within the account. The national average for savings account rates is ...
Despite its large presence, Wells Fargo savings accounts earn relatively low interest rates. Depending on the savings account, you can earn higher rates with larger balances—but even these rates ...
To help break it all down, Select spoke with economist Michael Gapen, managing director and head of U.S. economics research at Bank of America, about how increasing interest rates can help tamp ...