When you keep that money invested, you now generate interest on $1,050, which, at the same 5% rate, grows by $52.50 to $1,102.50 after two years. Let it ride and, by the end of 10 years ...
However, Scotia’s savings offerings don’t score highly on interest rates, since none of its accounts generate great interest on your balance beyond their welcome offers. Even so, considering ...
While ordinary savings accounts are useful for keeping cash available, high-interest savings accounts—meaning those with interest rates of 2.50% and higher—can help you grow your savings.
Today, the national average interest rate for savings accounts is just 0.45%, according to the FDIC. But that doesn’t mean you’re stuck earning a low rate on your savings. Many banks and ...
Following the frequent hike in the Monetary Policy Rate (MPR) by the Central Bank of Nigeria (CBN), a total of 10 Deposit Money Banks (DMBs) generated an estimated N12.24 trillion in interest ...