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by Answerbag Staff on December 15th, 2009

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What does interest rate mean to a savings account?

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  • by Mark Rhyman on December 15th, 2009

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    Great Answer

    Professionally Researched. (What's this?)

    Many savings accounts offered by banks allow you to earn interest on the money you have on deposit. This interest often requires a minimum balance be maintained and isn't offered with every single account at every bank. A certain percentage is paid added to your account for keeping your money in the bank.

    Source:

    HowStuffWorks.com: How do savings accounts work?

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