How does the interest on savings accounts work?
Channel | Publish Date | Thumbnail & View Count | Download Video |
---|---|---|---|
Publish Date not found | 0 Views |
In its simplest form, interest is the cost of borrowing money. You generally pay interest to borrow money, and you can collect interest when you borrow money. When you deposit money into a savings account, you are essentially lending money to a bank and earning interest on that money. Watch our video overview of how interest works on savings accounts. To learn more about how interest works and how it can help you achieve your financial goals, visit: https://www.discover.com/online-banking/banking-topics/how-interest-works-on-saving -accounts/ .
Connect with us socially:
Subscribe to Discover on YouTube: https://www.youtube.com/discover
/"Like/" Discover on Facebook: https://www.facebook.com/discover
Follow Discover on Instagram: https://www.instagram.com/discover/
Follow Discover on X: https://twitter.com/discover
Follow Discover on TikTok: https://www.tiktok.com/@discoverofficial
Please take the opportunity to connect and share this video with your friends and family if you find it useful.