What is the average interest per annum for saving accounts? Where is the highest?
963593
The rate of interest will vary according to the type of account.\n\nIf you want instant access you will get a low rate. If you give notice (30/60/90 days) the rate will be higher. If you are able to tie the money up (1 year/2 year or more bonds) the rate will be even higher. This is due to the provider being able to to use the money to get higher returns if it knows it will be with them for longer. If you are a tax payer be sure to ask for the net rate (tax paid).\n\nRates can also vary by the amount invested i.e tiered so that a higher balance earns more than a low balance.\n\nIf you don't have an ISA, then these are usually higher rates than standard accounts and tax free. There are restrictions on the amount that can be invested though.\n\nAlliance and Leicester have just introduced a 12.0% regular saver account. This is the highest rate on the high street for regular savings between £10 and £250 per month.\n\nBeware though, if you pay in £50pm then you will earn interest on £50 in month one (1/12 X £50 X 12% = £0.50). The interest will get more as the months progress as it is calculated daily. You may be better off paying in the full £600 into an ISA.\n\nHope this helps.
253596
its around 4-5%. i have a student loan and my interest rate is 4.6%
434643
This depends onthe bank and savings acct you open.  Most compound interest daily but either pay it monthly or quarterly.  It sounds like a money market acct may be a good option for you, the interest rates are generally higher than traditional savings accts and do require a larger initial deposit.  READ THE TERMS AND FINE PRINT FIRST!!\n\nWhat you mean about returns on investments,I am not sure... banks do not handle and pay on brokerage accounts if that is what you are referring to..
968929
The shorter the interest term the faster it grows as the principal grows more quickly so you get more interest on your interest\n\nFor example lets look at the interest gained over 1 year on an interest rate of 12% per annum\n\nYearly: Well at the end of the year A = 1.12*P\nSo interest gained = 1.12*P - P = 0.12*P\n\nHalf Yearly: Well at the end of the year A = (1.06)*(1.06)*P (because the interest is applied each 6 months\n= (1.06)² * P\n= 1.1236*P\nSo interest gained = 1.1236*P - P = 0.1236*P > 0.12P\n\nQuarterly: Well at the end of the year A = (1.03)*(1.03)*(1.03)*(1.03)*P \n= (1.03)^4 * P\n≈ 1.1255P\nSo interest gained = 1.1255*P - P = 0.1255*P > 0.1236P\n\nMonthly: Well at the end of the year A = (1.01)*(1.01)* ... *(1.01)*(1.01)*P \n= (1.01)^12 * P\n≈ 1.1268P\nSo interest gained = 1.1268*P - P = 0.1268*P > 0.1255P\n\nDaily: Well at the end of the year A = (1.0003288)*(1.0003288)* ... *(1.0003288)*P \n= (1.0003288)^365 * P\n≈ 1.1275P\nSo interest gained = 1.1275*P - P = 0.1275*P > 0.1288P\n\nNow while it may not sound like much over 1 year over 20 years it can become significant\n\nJust quickly over 20 years\n\nYearly: Interest = ((1.12)^20 -1)*P = 8.6463*P\nHalf Yearly: Interest = ((1.06)^40 - 1)*P = 9.2857*P\nQuarterly: Interest = ((1.03)^80 - 1)*P = 9.6409*P\nMonthly: Interest = ((1.01)^240 - 1)*P = 9.8926*P\nDaily: Interest (using 365.25 days per year to account for leap years)= ((1.0003285)^365.25*20 - 1)*P = 10.0154*P
871425
What kind of savings account gives you 10% interest? And anyway, why would you only want to save $200? Very mind-boggling. Why would you want to know the answer? Is this your homework?\nAnyway, just for the heck of answering:\nUse a financial calculator. \nKey in 200, followed by pmt. (Payment)\nKey in 10, followed by n. (No. of years)\nKey in 10, followed by i. (Interest)\nCompute the value. \n\nThe value that you get is how much you will have in your bank at the end of 10 years. That figure is your PV for the following calculations:\n\nTake calculator, key in figure followed by PV.\nKey in 10, followed by n.\nKey in 10, followed by i.\nCompute FV.\n\nTah dah! The answer you want!
846954
I personally have an HSBC online-saver account. It is run solely over the internet banking system, and because of this, and because it means that HSBC don't have to employ any staff to manage the account or handle paperwork, the interest rate is higher. I believe it is currently 4.95%.\nAlternatively you could open an ISA account, which also have good rates of interest.\nYou're best bet is to go down to a building society or bank, and speak to a Customer Adviser. Be warned though, they will invariably try to get you to sign up for their own company's accounts. So if you go to Natwest, you will hear all about the greatness of Natwest. Shop around!\nHope this helps,\nRegard, Liam
739377
They do,  but the banks and building societies delay as long as they can.  Ive got a Chelsea Building society postal savings account which is guaranteed to be 0.6% above the Bank of England base rate. So it will automatically rise from 5.35% to 5.6% now that the new rate applies.  I dont know if it is still available to new savers though.
516946
The best savings accounts in UK are definitely from Halifax Banks.\n\nHalifax Banks have alot of services that they can give you for example: \n1. Bank Accounts\n2. Credit Cards\n3. Estate Agency\n4. Holidays \n5. Insurance\n6. Investments\n7. Loans\n8. Mortgages\n9. Savings\n10. Share Dealing\n\nAll these services that the Halifax banks offer are great, besides they help you in your life they can give you alot of money and alot of interest in your savings account.\n\nNumber 9 called Savings: Is an excellent account in which you can open a savings account and if you keep your money in that account for a long time, automatically it will increase your interest rate, for example: If you have  £6,500 in your savings account and if you keep your money there for 6 months your interest rate will increase from 3.5% to 6% and it will be a little bit more of money; But you cannot take out money from your account once you've already made this deal, if you take money out you'll lose your interest. (And you can hardly be able to apply once again.)\n\nI think this one is good because they give you alot of interest, it's secure, it has alot of popularity, all the people have their account in it, and it's a bank in which you can trust 100%.\n\nSo try it! It's an excellent bank that in my opinion, I recommend it for everyone that lives in UK.\n\nI hoped that this answer has helped you in everything. \n\nRegards
64993
If it is a compounding interest, use this formula: $X x (1+interest rate)^Period. For your eg, if you are referring to 5% per annum, the answer is: $150 x (1.05)^(420/12) = $827.4, i.e. 5.516 times your original capital.
12106
The best savings account that I have found to date is with Emigrant Direct. They are currently paying out 3.92% on savings accounts. The best part is that there is not a minimum to open the account and everything is done online. You simply send them a deposit and thats it. They must first verify your information, however this process isn't very time consuming. There isn't any hassle and they offer great service. You can go to their website, which is http://www.emigrantdirect.com, for more information.
487839
Need to know how much you invested at what interest rate first.
901036
There's a trade-off between having complete access to your money and getting as high an interest rate as possible.  The more you are willing to "lock up" your money, the more interest you can get.\n\nThe checking account is generally the highest access (fewest restrictions, etc.), but the lowest interest.  Next up the scale is a money market account.  Then comes CD's, bonds, etc.
1063523
ING offers a savings account with a current interest rate of 4.25%.  (6/12/2006)  If you are talking about something other than savings accounts here is a link to their site: http://www.ingdirect.com
960724
NONE. They are very very very very bad. The interest rates are about 250% to 500% or more. Do not do this.
557883
Try HSBC (hsbcdirect.com): $1 minimum and 4.5% interest rate!   Several competitors offer similar deals: ING Direct, Emigrant, Citibank.\n\nThese are all online savings accounts; you can't get to them from a branch. Some or all of them offer ATM cards though.
394092
try here: http://www.moneysupermarket.com/currentaccounts/\n\ntick on the Student & Young Person Accounts and see what it comes up with
909565
Regular checking/savings accounts typically will not offer that high of an interest rate.  Rates like that typically aren't found from a bank on higher end CD rates.  \n\nYou could check www.bankrate.com