How Does Savings Account Interest Work?
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How Does Savings Account Interest Work?
At its simplest, interest is the cost of borrowing money. Generally, you’ll pay interest to borrow money, and you can collect interest when you lend money. When you deposit money in a savings account, you are in essence lending a bank money and will earn interest on that money. Explore our video overview on how interest works on savings ...
821.1K viewsOct 10, 2017
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