do all savings accounts give you compound interest?

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do all savings accounts give you compound interest?

im new to banking

2006-10-28 09:14:25 · 2 answers · asked by Will 2 in Business & Finance ➔ Credit

2 answers

they all do, some have different interest rate.
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2006-10-28 12:26:12 · answer #1 · answered by bijan816 2 · 0⤊ 0⤋

Yes and no. Once the interest is credited to your account, it is part of your principal the next time interest is calculated. To that degree, it is compounded. Most accounts credit interest to you account monthly. Many accounts compute interest compounded more often than that.

2006-10-28 17:26:29 · answer #2 · answered by STEVEN F 7 · 0⤊ 0⤋