High Interest Investment

What determines how savings account interest rates vary? I'm going to open a savings account, but all of them seem to say that the stated interest rate may change after you open the account. How then do I know which account will give me the best interest rate, if they all change at any time for any reason?

How to I calculate my Savings Account Interest Rate? I just opened up a Savings Account with 5.16 interest rate and it's compounded daily. If I have an amount of 150.00 in my savings account, how much will I earn in interest a month?

What is a savings Account with good interest rate? My savings account interest rate has gone down considerably to about 3.6 and was wondering what are some good accounts. Looking for one close to around 5% interest.

How does savings account interest work? My mother told me I would get around 4% monthly interest on my savings account. Now I have a hard time believeing there isn't a catch to this because I'm about to obtain $20,000 and I did the calculations of getting 4% interest every month for 10 years and It came up to $2,128,000. I could easily keep that in savings for 10 years but then why wouldn't everybody have a ton of cash. Whats the catch?

What Canadian banks offer the highest savings account interest? I'm a teenager from Newfoundland, Canada and i'm looking to put 5000+ dollars into a savings account.. which bank offers the most interest or is most effective? I am currently employed full time, but I only want to put my money in a savings account for about 2 years because i will need to get a car then

do i have to pay taxes on my child's savings account interest? I opened a savings account as a joint account holder with my child, he is the primary account holder. The account is funded with automatic weekly deposits. No money has been withdrawn. No money will be withdrawn until he is 18. Do I pay taxes on interest accrued?

online broker with best savings account interest? I'm interested in an online broker and I've read through here that scottrade is, by far, the best online broker. The problem is that the savings account that scottrade offers yields 1% interest, while e-trade has a 5.05% savings account. Taking these points into account, are there any better online brokers? Thanks.

Why are savings account interest rates still so low? Prime has been rising quite a bit along with many of the lending interest rates, from what I've seen. Why are savings accounts still rock bottom?

Difference between a term deposit account and a high interest savings account? I currently have a high interest savings account with an interest rate of 4.75% So lately i have been looking at term deposit accounts, but i literally cant find one which has a higher interest rate than the account i have now. I know how it all works, you cant touch the money for a set period etc. But what are the benefits when i could just keep my high interest savings account which has a higher interest rate and i can access my money? Thanks!

What institution offers the highest interest savings account? I would like to put my savings into a high interest savings account while I learn more about where I should invest it etc. Anyone know who offers the best?

I need some help opening a high interest savings account in Canada? I am 17 years old and I have $1080 saved up. I want to open a savings account, preferably one that will generate some interest as I am going to university in 2011. I do not want to spend this money I just want to put it in the bank and forget about it. Does anybody have some solid advice I could use?

What are the disadvantages of getting a 0% interest for a year loan and putting that into a savings account? I got a thing in the mail saying I could get a $5000 loan (with a 3% charger per transaction) for 0% interest for a year. Can I just put that into a high interest savings account and then when the year is up pay off the loan and keep the interest earned? Seems like an easy way to make a little money. I was thinking of signing up with ING for this. Thoughts?

High Interest Savings Account That I Can Keep Adding Money To? I have about $2,500 that I am looking to put into a high interest savings account. In addition to the base amount I am also looking at putting around $800 a month in the account. I am looking to earn the most amount if interest possible bc I am trying to save up for an upcoming move overseas. I have around 8 months or so to save. Anyone have any suggestions? Thank you so much!!

What is the difference b/w a High interest savings account and a money market account? They seem similar from what I read. I have a High Interest account and I'm wondering if I should get a money market account as well to be more diversified and earn more money? I am 22 and don't plan on taking any amount of money out at all for at least 10 years to put a substantial down payment on a house if that helps for 'example' purposes. Thanks.

How can i apply for a high interest savings account? I am 16 years old and i have a part time job which i earn a fair amount of money from. The money is just sitting in bank account and not being used - can i transfer it to a high interest account? I have been looking around and there are lots of these types of accounts where you can enter anything from £1 upwards and receive 5% interest every month but they all appear to be for over 18s only. What can i do?

What good interest rate should someone open a savings account and when should they open an account? Wanting to open a savings account, what interest rate is a good rate. Is there a specific time in the year one should open an account, spring time or summer or right before new years??

Is it possible to open a high interest savings account in an overseas country? Hi I'm an Aussie, I was just wondering if it is possible to open a high interest account overseas and if its a good idea? For example, if South Africa has an interest rate of 11% could I open an account there and get around 11% return on the money in the account/term deposit?

With the interest rates being so high I'm looking for a high interest savings account. Anyone help? Looking for a place to save my hard earned money. Need a high interest savings account. My friend recommended ING Direct but I'm not so sure. Can anyone give me more advice as to what kind of savings account I should be looking for?

do i get taxed when i have a high interest rate savings account? iam just asking because ive come into inheritence of 1 mill. if i put that in a high interest savings account and live off that . e.g 5% interest meaning i get 50k a yr just by that and i live off that money. as in not work. would i be charged tax and how much tax will i have to pay for getting 50k a yr from the interest only? by the way, i live in australia so please give answers about australian tax only.

What if I invest my money in a high interest savings account for the promotional period and then close ...? the account to put my money in another high interest account. Provided there is no exist fees would this effect my credit rating.. or can be done?

What is the difference between "apy" and the "rate" in a high interest savings bank account? And any other information about high interest savings accounts that I should know? And if anyone knows of any good ones for a deposit of 5 grand. Thanks!

Switching to higher interest savings account? Being a little leery of the financial mess we are in at the present, I am thinking about switching to an on-line savings account such as ING Direct Orange. My current interest rate for savings accounts at my local bank is 1.14 per cent. I have roughly $10,000 sitting there earning .75 cents per month. Can anyone give me some advice on this? Does anyone have any experience with ING? Thanks!

High interest savings account for college student? Im planning to open a savings account and put several hundred dollars monthly. which bank has the highest interest rate?

Is anyone else unhappy with the ING savings account interest rate decrease? I signed up a year and a half ago and the interest rate was around 4.5 percent. Since then, the interest rate has dipped to 2.96 percent. I realize the economy is suffering, but it appears they've pulled a bait and switch.

What bank has the highest savings account interest rate? I'm not talking about introductory rates that drop after a few months.

High Interest Savings Account- Looking To Put The Money Away For A Year Or So? So I recently came into about $2,500 dollars thanks to the selling of some family stock. I am in the process of trying to figure out what way to save this money up for a trip next year. Next July I will be heading off to Asia (South Korea and Thailand) for 6-12 months to teach english. I do not need this money right now, but I want to put it in a high interest account where I can earn some money on my money while I am still here in the US. I do not know which route to go. I am planning on using this money to purchase my ticket and whatnot next May or so. What is the best type of account to put my money in so that I can get the max return possible with the least amount of worry. I do not really want to get caught up in the buy/sell game of the stock market, plus I could loose this money. I am just looking for the best way possible to get the highest yield. Any help would be great!! Thanks!! Also, I forgot to mention, I am looking to add alteast $200 a month of additional money that I am earning from working. What is the best account that I can get the most interest on even if I am adding additional money every month. Is this possible to do??

Is there any benefit to holding off on adding money to a savings account, if interest is calculated monthly? I'm not sure if it would be better to hold onto this money until a few days before interest is calculated or if it would be better to input the money at the beginning of the money? Is there any benefit of delaying putting in money into the savings account? As far as I know, the interest just gets calculated monthly. Do you get more return on interest throughout the month, by putting more money at the front of the month? This is what I'm not sure about, cause all that I was told was that interest is paid monthly.

Which bank has the highest savings account interest rates in Orange County, CA? A list of the top 20 would be great. Thanks for your time.

What bank in the Philadelphia and surrounding area has the highest savings account interest rates? I don't want to do ING Direct, because it's hard to withdraw in case of emergency. Thanks!!

What bank offers a savings account interest rate of about 6 percent? Please add a link to their website. Thanks!

How savings account interest works? If I were to put $50,000 in a savings account that gives 2%. Would I be paid 2% of $50,000 every month or would the amount be divided and issued month to month?

Which is better...Savings Account Interest compounded daily or monthly? Given the option (1) of opening an online Savings account in an institution that says "Interest will be compounded daily and credited to your account monthly." and option (2) that says "Interest is compounded monthly and paid monthly based on daily collected balances.", which option is going to lead to more interest paid? Or are they the same. You may assume an opening balance of $2000.

Is it possible to open a high interest savings account in Uganda? I am in US, but will be traveling to Africa some time next year. I was wondering if I can open a saving account with high interest rate. If yes, how high?

What is the highest interest bearing savings account I can get? I want to put some money away in a savings account for about 3 years but I want it to gain interest at it's highest possible rate. What kind of account would I get? CD, Money Market, etc?

If you keep your salary in an interest-earning savings account does the gov't still get tax from it? I'm planning to save my salary proceeds in an interest-earning savings account but i'm worried the gov't will still get a chunk of it eventhough they already removed taxes from the salary. What about the interest? Is it taxable? How much? Thanks for your answer.

canadian high interest savings account, which to choose? i want to open a high interest savings account in canada, can anyone recommend a good account. or can you compare the different providers. i know that ING and Altimera offer the highest rates, but what are the drawbacks then? thanks!

What on-line banking service has the best savings account interest rates?

Is it better for interest on a savings account to be paid monthly or paid quarterly? Interest rates are compounded daily. I heard that if you withdraw money from a savings account before your interest is paid, you lose all the interest you earned within that time interval. Is that true?

Can you recommend a high interest business savings account? I have just started a new business. I receive free banking with the Co-Operative Bank for my current account but would like to open a high interest business savings account for any surplus funds. I would hope to have at least £5,000 in the account ongoing. Thanks

Is it better to put your savings into a mortgage offset account or in a high interest savings account? Does anyone know of any online calculators that allow you to work out how much time/money is saved on a mortgage by using an offset account.

Will Closing my online high interest savings account hurt my credit score? I recently opened an online, high-yield savings account with Schwab, but I am very unhappy with both the account and the company so far. I would like to close it and move my savings to ING direct, but I don't want to jeopardize my credit score. Any advice would be wonderful. -Alex

If I gift it some money to someone who puts it into a high-interest savings account, who pays what tax? Intuitively, I would assume that the giver pays no tax (other than any income tax associated with having the money to give in the first place), and that the receiver pays tax only on the interest earned in the account. However, someone recently told me that the *giver* would be on the hook for the tax on the *receiver's* interest. This makes no sense to me, but I thought I'd double-check it.

What is the annual interest rate on the savings account? Orly invested $70,000: part of it in a savings account and bought a Certificate of Deposit (CD) with the remainder. He invested $20,000 more in the CD than in the savings account. Both the CD and the savings account pay simple interest, and the interest rate on the CD is 1.5% higher than that on the savings account. At the end of two years, Melvin has accumulated $7,650 in interest.

If you have money sitting in a savings account earning interest, do you have to pay quarterly estimated taxes? If not, can a person collect interest on their money all year long and just pay taxes on the interest at the beginning of the following year? Does it matter the amount? What if a person has ten million dollars sitting in an account earning interest?

Is interest from savings account with florida national bank tax exempt interest? Is interest from savings account with Forida national bank tax exempt interest?

Where can I find a high interest savings account in England? Which bank and what % has a good rate of interest at the moment? Thank you Will choose best answer.

What does it mean when a savings account says interest compounded daily? I'm looking for a good savings account and I don't know what this means

Joint savings account who claims interest earnings? My brother and I have a joint savings account. We will be making about $4,000 by the end of this year in interest. I have just starting working this year and will probably bring in about $10,000. My brother does not not work and has no income besides the above mentioned savings account. We both live together in NYC. Neither of us are claimed as dependents. Question: What is the best way to file taxes, and does my brother have to file at all?

Advice on opening a CD account as well as a savings account with good interest rate? I would like to open up a CD account and I am unsure of what a good rate is. I only want to invest between 3-$500 and for possibly a 6 month term. Is this unreasonable? Also, I am looking to open a savings account that will also accrue interest and I am having trouble finding high rates. B of A offered me one that requires a $300 minimum and the interest rate is .02% APY. Isn't this ridiculously low? I spoke with an associate and she told me it is compounded daily and paid out every month. So if I deposited $300 would I be accruing only 60 cents per YEAR??? I hope I am misunderstanding these rates. Please advise!

How do banks determine savings account interest rates?

What is the current minium interest rate available for a savings account? I'm really interested in knowing how much interest I should charge on money that people owe me that they want to pay back slowly. I figure if I had all the money back now I'd be able to keep it in a savings account and earn interest on it.

I would like to start saving. Which is a good high interest savings account??? ? Looking for something with little or no penalties. Or some other way to safely earn a better return on my savings.

Forgot to add savings account bank interest? Hi, I earned a saving bank account interest of $27. I forgot to add that in my federal as well as state returns. What are the consequences I'm facing. What are the probability to get audited for this one. I didn't get form 1099 from my bank. What should I do now?

What is a TCF Bank savings account's Interest Rate? I picked up a TCF Bank brochure, and for their savings accounts under "Earns Interest" it says YES (Refer to Current Rates & Yields Schedule). But they have no such schedule on the brochure, and I can't find this schedule for Minnesota on their website. Can anybody point me to this Current Rates & Yields Schedule or does anybody have a TCF Savings account in Minnesota and know what interest they are earning on it? Thanks!

Savings account interest -by month or year? If my bank interest on a savings account is .10% for the rate AND APY, does that mean you earn that much every month or only by the year? I'm young and new to bank stuff

How do I get interest in my savings account? Forgive me if this is already asked, but I tried searching for it and didn't find anything, but I was wondering: can someone please tell me how I can get interest on my account? I'm fairly new to all things banking, and I just made an account. However, I noticed that my savings account is at 0%. Can someone tell me how to increase that? Thank you!

I would like to open a Savings account for my 3 month old Son. Are their tax implications on interest earned? I want to open a Bank of America account linked to mine, but he would then have a high interest account (emigrant direct) linked so he could earn 5% on his savings. This is in addition to a 529 I am going to open for him, but gifts made to him personally would go to this savings account, separate from his education fund. Does he have to pay tax on the interest he makes through the years?

Which bank has the highest savings account interest rate? I am in orlando, florida

Do I have to report interest earned on a savings account? I filed my taxes and remembered that I had earned interest on a savings account. I know the interest earned totalled no more than $1, but I just wasn't sure. My bank didn't send me anything that referred to tax reporting.

what is the best place to have a high interest savings account? which bank currently has the highest interest rate?

Savings account interest drops after 12 months? What does it mean when a savings account offers say 6.0% AER and then in the small print says "After 12 months reverts to (some percentage)% below the bank of england base rate"? Does this mean i only get the interest advertised for one year? Are all the AER high interest saving rates only then for 1 year? (not including fixed or bonds)

How much interest should a savings account earn? I had about $6,000 in a savings account last year and it earned about $12 in interest. That's only about two-tenths of a percent. Is that right? I thought savings accounts earned 3% on average. 3% of $6,000 is $180. What gives?

How much interest earned over 3 years on a $85,000 savings account on 4% interest? How much interest will I have earned over 3 years on a savings account balance of $85,000 on 4% interest?

I want to put money in a savings account to earn interest. Do I have to pay high taxes? I want to put $2-300,000 in a savings account. Will I get taxed high from my interest? I heard it was 33% but that's about a 1/3 of you're interest.

What does 6% interest on a savings account actually mean? If i have 100 in a savings account paying 6% on a monthly basis how much interest would i get after a month? Also would this be the same with say 8% on a current account or do they work differently?

Is there such thing as NO Interest checking or savings Account? I know that FDIC covers up to 250K. Then drops to 100K after 1yr. But I heard that there are No Interest Checking/Savings Account that can protect all of money over 250K+. Meaning if someone have 500K in No Interest Savings all of 500K is protected by FDIC. Is there a such thing?

How is interest calculated on a savings account in the US? The bank says "Interest will be compounded on a daily basis and credited to your Account on the last day of the month. The balance on which interest is computed for your Account is determined by the daily balance method, which applies a daily periodic rate to the balance in the Account. If you close your Account before interest is credited, you will not receive the accrued interest." The APY is 5.05% So if I deposit $1000 on Feb 1st, how much interest will I earn by the end of the month? (I thought it was 5.05% every day but I'm sure that's too much.)

If I open up a CD or savings account that builds interest at a rate of 5% how does that work? After three months the 5 % kicks in. If I start a CD or savings account of 5,000 and have a 5% interest rate, how much will have have at the end of 12 months? Serious inquiries please, I'm investment challenged here!

Can anyone suggest a high interest earning savings account that I can open for my newborn baby? I have a newborn and would like to start putting money away for her. Since we won't be withdrawing from this account I would like one that earns a lot of interest.

i have a £1000 to put into a high interest savings account? has anyone got any ideas? i will also be adding money to it reguarly.

Can anyone help me pick a high interest savings account? There are so many to choose from but which ones are safe? I have heard that ING is good but there are others that have higher interest rates but I can not find anything about the company, like E-loan or AmTrust..... Please help