Say i open a bank account and put $2,000 in it. What interest will i earn?

Question

Do interest rates vary from bank to bank?

Answer 1

Interest rates vary from bank to bank and from time to time. Depending, you might realize $100 or so a year. Shop around. But if you have any outstanding credit card debt, use the money to pay it off.

Answer 2

Rates vary widely. If your looking for the best interest rate or yeild that will pay you the most for you money, you should look at online banks. For example, I just moved my savings from my credit union of 15 years where I was getting .90% to an online acct at over 5%. Check out Bankrate.com for reviews and rates. Don't worry, most are FDIC insured. I use HSBC and WAMU.

Answer 3

Interest rates vary. If you are thinking about a savings account, the rates can be from 1% to almost 5%. CD rates will vary from 4.5% to 5.5%.

Answer 4

I guess the answer depends on what exactly you are wanting to know. At a minimum, you should contribute enough to your 401k to get your employer match. After that, your other savings depends on how much you want to manage you investment options. If you will take time to manage your investments, you can put some money in a Roth IRA and select mutual funds to invest in. If you don't want to do much work, just put as much as you can in the 401k and invest in index funds.

Answer 5

depends on the type of account and the bank

Answer 6

None - if you withdraw it before 30 days, none if the account is non interest bearing, none if its a piggy bank.

Answer 7

At Everbank.com, over 3%

Answer 8

depends on each bank, shop around

Answer 9

If it's just sitting around put it in a 6mo or 1yr CD at 5% or more.

Answer 10

Less than the yearly inflation rate.