What is the average interest rate on a savings account?

+1 vote
asked Jan 14, 2018 in Investing by Pearsall (270 points)
What is the average interest rate on a savings account?

1 Answer

0 votes
answered Jan 15, 2018 by Adf289 (58,200 points)
The average interest rate for an average savings account is only 0.06%.

I would look into finding a savings account that has a higher interest rate so your money will grow at a much faster rate.

You might have to put up a bigger deposit and add more money to the higher interest savings account but in the end it would be worth it to pay more money into the high interest savings account.

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