How much interest do you get in your savings?

[Kane]

Do you save money in banks? How much interest rate do you get on your saving account? I save money in banks, the interest rate differs according to banks and the policy of the central bank, however, the average saving rate in my home country is 6 percent. You get higher saving interest rates form development banks compared to commercial banks. What about you?

 

[Debashis]

The interest from savings account is extremely less at my place. They give only 3% interest per annum. It should at least match the inflation rate I feel, which is about 6% per annum.

 

[Good-Person]

Do you save money in banks? How much interest rate do you get on your saving account? I save money in banks, the interest rate differs according to banks and the policy of the central bank, however, the average saving rate in my home country is 6 percent. You get higher saving interest rates form development banks compared to commercial banks. What about you?

I do not earn interest at all and there are many reasons for that. I prefer to invest money in a business or buy stocks. This is quite risky. However, it could prove to be much profitable in case if you calculate the risk properly and invest in the market wisely.

 

[Kane]

I do not earn interest at all and there are many reasons for that. I prefer to invest money in a business or buy stocks. This is quite risky. However, it could prove to be much profitable in case if you calculate the risk properly and invest in the market wisely.

Well, I also prefer to make an investment. However, I also try to minimize my investment risks by saving money on interest bearing accounts. If you have savings, you will not end up selling your portfolios where you need money badly.

 

[Riberet19]

The annual rate of return in my bank is 2%, it is not a big deal if see the level of inflation that is in my country, which is more or less at 8% so that money would really be losing value, that is why I prefer to invest most of the time, since the profitability offered by banks is not enough.

 

[Heatman]

If I remember correctly, it should be about 2% or 3% interest that my bank offers for any money that you leave in your account on monthly basis without touching the money. It is a very small amount of interest that they are offering to customers which is why I don't have any interest in leaving a huge amount of money in my savings account because of the 2% interest.

 

[Good-Person]

The annual rate of return in my bank is 2%, it is not a big deal if see the level of inflation that is in my country, which is more or less at 8% so that money would really be losing value, that is why I prefer to invest most of the time, since the profitability offered by banks is not enough.

When a country suffers from financial issues, they tend to lower down the interest rates many investors receive in their bank accounts. This is because the government itself does not have enough money in order to pay interest. This is what I have been observing as my country suffers from financial issues.

 

[Riberet19]

When a country suffers from financial issues, they tend to lower down the interest rates many investors receive in their bank accounts. This is because the government itself does not have enough money in order to pay interest. This is what I have been observing as my country suffers from financial issues.

Well, they have never really been much higher, they have always remained at a more or less similar rate, when inflation was at 2-2.5% more or less that rate was acceptable, but now it is not, now if you want your money not to depreciate you are "force" to look for alternatives, I have some money in a platform / neobank called Myinvestor that offers a return close to 4% which is somewhat better.

 

[Heatman]

Well, I also prefer to make an investment. However, I also try to minimize my investment risks by saving money on interest bearing accounts. If you have savings, you will not end up selling your portfolios where you need money badly.

Investment is definitely better in my opinion than having your money in your bank account. There's nothing which they will pay you in the interest that's going to be close to what you can make in investment. It's good to watch your risk because some investments can bear high risk that can take a big chunk of your money.

 

[Good-Person]

Well, they have never really been much higher, they have always remained at a more or less similar rate, when inflation was at 2-2.5% more or less that rate was acceptable, but now it is not, now if you want your money not to depreciate you are "force" to look for alternatives, I have some money in a platform / neobank called Myinvestor that offers a return close to 4% which is somewhat better.

Well, if you consider this fact, then I think that there are many other ways you can actually invest money and earn far much more than what many financial institutes offer. For example, you can invest in gold and you may get better returns as compared to what banks are offering you in the form of interest money.

 

[Frank]

I get as high as 12 interest annually when saving with my bank. That has made me to always believe that I am making the right moves when it comes to how much that I save. I want to save more so that I can accumulate more interest on those savings. My bank is an online bank and that is why the interest is this high.

 

[Good-Person]

Investment is definitely better in my opinion than having your money in your bank account. There's nothing which they will pay you in the interest that's going to be close to what you can make in investment. It's good to watch your risk because some investments can bear high risk that can take a big chunk of your money.

I really do not know why people even think that storing money in a bank account and earning interest would help them in any way. banks do not offer a really high interest rate at all if we compare to the ratio of inflation to the rate of interest offered by the banks! I am always against earning interest and I hate it. Keeping your money in a bank account mostly helps banks only. I would rather invest my money in a real business.