Savings · Basics · 1 of 8 · About 3 minutes

How savings interest works

What “4.50% a year” means in dollars, and when the money arrives.

1. 1The rate is what the bank pays you to keep your money.
2. 2You earn a little every day, and get it once a month.
3. 3Then your interest earns interest too.
4. One question