Does your savings account accrue interest?
By maezee
@maezee (41988)
United States
January 19, 2016 8:08am CST
Does your savings account accrue interest? It’s been so long since I’ve had a decent savings that I don’t even remember if my previous savings account ever did. I recently just started a new savings account with a different credit union than my debit account is in, and I am excited as I put the first $100 into it recently. It’s growing! I am not sure if this savings account accrues any interest, however. I feel like with my prior savings accounts at different credit unions, once I had over $2,000 or so it accrued a few cents per month, but I can’t quite remember…
Does your savings account accrue interest? If so, how much? And how much did you need for it to start doing that?
5 people like this
9 responses
@softbabe44 (5816)
• Vancouver, Washington
19 Jan 16
I put mine on a pre-paid card so that works for me.
2 people like this
@softbabe44 (5816)
• Vancouver, Washington
21 Jan 16
@buttheadface932 I'll tell you what some do get interest some don't but I know it's safe.
@buttheadface932 (708)
• United States
21 Jan 16
Oh my gosh Peggy, that is an interesting idea but you earn NO interest, correct?
2 people like this
@buttheadface932 (708)
• United States
21 Jan 16
Kiran that is very nice! Here in America ALL the banks treat us like crap, and do not give us anything back unless you have a lot of money. It used to be different.
1 person likes this
@maezee (41988)
• United States
23 Jan 16
@buttheadface932 I tend to agree. The interest you do accrue is ridiculously small. Before I blew my savings on a car, I had somewhere around $4k in a savings and earned .10 cents per month (I think - maybe even less) in interest....That seems very lame.
@snowy22315 (182185)
• United States
20 Jan 16
Ha.my answer to this is what savings account?? Poor as a pauper here!
1 person likes this
@cherriefic (10399)
• Philippines
20 Jan 16
Yes. The savings account should accrue interest. But not so much though.
1 person likes this
@ricki_911 (21625)
• Toronto, Ontario
21 Jan 16
Yes, I currently have a few savings accounts with the bank and the credit union. The credit union is more or less for bigger things house fund, and retirement. But I can't touch the money either so that helps me. The ones in my bank account I try and put $50 - $100 a month but lately been paying off bills with it. But I have started put more into it each month now, and earn about $1 - $2 in interested per $100.
1 person likes this
@ricki_911 (21625)
• Toronto, Ontario
23 Jan 16
@maezee Thats what I look at right now. I had to put all my savings in those accounts to my credit card while I wasn't working. So I am trying to get back into it and catch up.
@buttheadface932 (708)
• United States
20 Jan 16
Oh gosh no. I don't even know what my rates are!!! You can only go with a CD!
1 person likes this
@Ladypeace (2028)
• Singapore
19 Jan 16
I have two saving accounts that accrue interest. One with an Australian bank and the other with a Singaporean bank. The Australian one gives me 1.8% interest on whatever amount left in the account end of month, per month. The Singaporean one is a fixed deposit account, which I get a rate of 1.85% on the sum of money I have locked into the bank for 12 months. I collect my interest in one lump sum at the end of the 12 months.
1 person likes this
