It might come as no real surprise that a checking account is a good spot to keep your money. Savvy savers know that savings accounts have a tendency to provide greater interest levels than checking reports. Which means by having a checking account, you’re making more cash together with your cash. Sign me up, appropriate?
While a checking account feels like a sweet deal, you might still be wondering: How exactly does checking account interest work? Fair question. It’s one the puzzles numerous. Yet understanding how interest works on a savings account is definitely a essential element of maximizing the wages on the hard-earned, carefully stashed, money.
We’ve got simply the breakdown of how interest deals with a checking account to truly get you started: