interest-bearing account
Money earns more
An interest-bearing account is a bank account that pays the holder a percentage of the deposited balance over time.
Savings accounts, money market accounts, and certificates of deposit are common types.
The interest rate may be fixed or variable: She moved her emergency fund to a high-yield interest-bearing account.
- savingsAccumulated money kept
- checkingAct of verification
- rainy day fundMoney saved for emergencies
- depositPlace for safekeeping
- direct depositFunds sent to account automatically
yield · high yield · dividends · compound · APY · principal · minimum balance · balance · certificate · maturity · accrual · passbook · bank statement · statement · bank · credit union · money market · treasury
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