2007-03-26 19:40:24 · 4 answers · asked by Anonymous in Business & Finance ➔ Investing
All U.S. banks have interest bearing accounts, such as savings accounts, certificates of deposit and certain checking accounts.
2007-03-26 20:35:22 · answer #1 · answered by greymatter 6 · 0⤊ 0⤋
My cynical guess is that most people don't think of bank accounts as an investment vehicle, but solely as a place to keep money. Banks realized that they could get away with giving out squat interest rates and did so. I think I worked out once that the puny interest rate on my checking account would double my money in about 500 years. A simple 2% interest rate would do it in 35.
2007-03-27 03:43:24 · answer #2 · answered by Adam J 6 · 0⤊ 0⤋
There are some accounts designed for interest gains on deposits. Those are usually minute that it's not even worth it. However, if you want an interest bearing account, your bank will usually have one.
2007-03-27 02:45:33 · answer #3 · answered by Muga Wa Kabbz 5 · 1⤊ 0⤋
You should start a simple IRA that earns 7.5% so you can have alittle bit of saving/interest building for your future. Free projections from my website. www.sandiegoira.com -Corey
2007-03-27 03:28:55 · answer #4 · answered by corey m 1 · 0⤊ 2⤋