Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

What Do You Know About Bank Savings Account Interest Rates?

By Tyler Subscribe to RSS | March 22nd 2012 | Views:
loading
 
  



Whenever you have money in the bank, you would expect it to earn you a bit of interest each year. This is a very important concept that most people do not think about fully. For instance, rather than saving your money in any regular account, you would get a higher interest rate when you put the money in a savings account. This is something that a number of people may not know, especially if they are of the younger generation and are not fully conversant with the workings of bank account deposits. However, even if you know a thing or two about savings in a bank, you may need to do more in order to find the best way to make that money earn you more money.

For instance, there are many banks which have dismal savings account interest rates. Most of the commercial banks offer such rates at below ten percent per year. This means that you would need to save lots of money in order for it to earn you any significant income. However, the other more urgent issue about saving money in such an account is how the low interest rate is going to affect the value of the money that you have.

Though it is a hard concept to get one's mind around, money does not retain its value over time. For instance, you will find that what a dollar could buy five decades ago is much more than what it can buy now. The rate at which money loses its value is what is commonly referred to as inflation. This concept basically means that if you have a dollar today and keep it without it earning any interest, it will have lost some of its value in ten years. In order to reduce or even counter the effects of inflation, most people prefer to save their money in a way that gains them interest.

The disadvantage of a regular savings account is that the savings account interest is often much lower than the rate of inflation. This means that it only works to slightly offset the loss in value that your money accrues while in the bank. If you are looking to avoid this, you can try and save your money in high yield savings accounts instead of the ordinary ones. These often have a much higher savings account interest rate, and you may even get some offering in excess of ten percent interest.

A figure such as ten percent interest is laughable when you compare it with other savings modes such as hedge funds which may sometimes yield even twice or three times that. However, the most powerful thing about high yield savings account is that they are extremely secure. The interest rate is guaranteed, which means that there is no room for losing your money. If you are trying to ensure that your life savings are intact and that they earn you fair interest, you would be much wiser investing them in such a savings account rather than exposing yourself to the risks of other kinds of investment vehicles.

Tyler - About Author:
Although it is hard to expect anything great from savings account interest rates, there is still comparison work for you to do if you want to determine the best interest rates from any one bank. For the individuals who prefer stability, savings account interest rates can still keep them happy in view of the low risk involved.

Share on Facebook Tweet It Stumbleupon this post This post is delicious !

Article Source:
http://www.articleside.com/loans-articles/what-do-you-know-about-bank-savings-account-interest-rates.htm

Related Loans Articles Subscribe to RSS

Quick payday loan- Borrow Loans Quickly
Published by Dondu Talbot on January 9th 2012 | Loans
Quick Payday acknowledged this problem of potential borrowers and customized its borrowing process c...
 
6 month loan no credit check- Easiest way to use money for long time
Published by Aldis Roy on July 10th 2012 | Loans
If you are obtaining quick money from 6 month loan no credit check, you can easily meet unexpected f...
 
Waiting for approval of your loan? Contact Loan Officer
Published by Wills Loren on March 27th 2012 | Loans
feedbackhere.com : We provide Loan Officer Services most event planners have something directly to t...
 
1000 cash loan- Bridge financial gaps between paydays
Published by Morgan Sadyu on June 11th 2012 | Loans
In fact, 1000 cash loan is a great small financial plan especially designed to help salaried persons...
 
Small payday loan- Resolve any cash worries within few days
Published by Abell Bush on June 19th 2012 | Loans
If you have taken instant funds via small payday loan, it is quite easy for you to utilize the money...
 
Loans for Bad Credit- required details and gain cash according to the loan of your selection
Published by Phillip Emerson on March 30th 2012 | Loans
Loans for Bad Credit are a wonderful option for bad creditors. You can choose between unsecured and ...
 
2000 dollar loan- Truly valuable fund that will help your fiscal problems
Published by Kelin Smith on June 6th 2012 | Loans
Once you avail 2000 dollar loan, it is quite flexible for you to obtain quick funds and overcome any...
 
12 Month loans- Unique loan with flexible repayment option
Published by Lewis Jasvin on April 17th 2012 | Loans
If you want to avail loan with longer time of repayment then 12 Month loans is the right option for ...
 
Find out as much as you can about used car extended warranty and Aussie car loan
Published by Julia Bennet on June 15th 2012 | Loans
The concept of used car extended warranty can be a rip off you are not careful. Even when you deal w...
 
Apply online for bad credit installment loan- Easy financial help available online
Published by Bailey Molton on July 12th 2012 | Loans
If you are availing quick funds via installment loan, you will be getting rid of financial hurdles a...
 
Debit Card Loans- Ideal choice of loan to fight cash emergencies
Published by Kelvin Lopez on June 29th 2012 | Loans
If you are taking quick funds via Debit Card Loans, you can instantly relieve unexpected fiscal worr...
 
I need a payday loan- How should I tackle the situation?
Published by Ponting Sarad on November 29th 2011 | Loans
By getting payday loan, you have right option to fulfill financial crisis without any hassle....
 
90 day loan no credit check- Ideal choice of financial plan for you!
Published by Alesia Ace on May 31st 2012 | Loans
If you have availed instant funds via 90 day loan no credit check scheme, you may fight against any ...
 
I Need 100 Dollars Now - Small loan with valuable offers for you!
Published by Jacob Madox on June 12th 2012 | Loans
If you want to borrow small funds, it is better for you to seek about 100 dollar loans available onl...
 
Small loans for people with bad credit- Unique loan for bad credit borrowers
Published by Narten Jonner on July 14th 2012 | Loans
By getting quick funds via small loans for people with bad credit scheme, you can get rid of any kin...
 
Instant sanction bad credit loans - Simple loan for bad credit owner
Published by Alan Poly on February 20th 2012 | Loans
Bad credit loan at an instant support are at no cost from acclaim check method and so if you are fac...
 
What is the process involved when applying for a secured personal loan?
Published by Julia Bennet on August 21st 2012 | Loans
A secured personal loan is offered to a borrower against collateral and the rate of interest is amon...
 
Apply online for bad credit installment loan- Offers quick funds for everyone!
Published by Bailey Molton on June 9th 2012 | Loans
If you are availing bad credit installment loan, you get quick funds up to $1500. This small fund is...
 
What accurately be a secured loan UK?
Published by Ian Foster on February 17th 2012 | Loans
Secured Loan has the fundamental principal in UK that it uses your house as security, usually as a s...
 
1000 cash loan- Grab quick cash and remove cash crisis now!
Published by Morgan Sadyu on May 4th 2012 | Loans
With the aid of 1000 cash loan, it is possible for you to borrow quick cash to meet unexpected finan...