What is an average interest payment on a savings account?

I was told that my interest is half a percent per month if I don’t take any out. I was told that when I reach a minimum of $5,000 a month that my savings interest would be 1.5 percent if I switch to a high interest savings account.

I recommend that you find a bank that does not charge any service fees. That’s 144.00 a year that you could use for other things.

@chyna Next time I go to my bank I can switch to a Echecking account for $0.00 a month. It has been on my mind this week.

I’d tell the peoplesat the bank that I insist on being kissed before I get screwed!!! Then I’d move my account to another bank with NO fees!!! Yes, they are hard to find now days but they ARE out there IF you just take some time & look around.

@RedDeerGuy1 The rate they are paying you is not 0.5% per month; that is the annual percentage rate. You are receiving 1/12th of that each month.

I get 2% a year on my checking account, but only when the balance is above $5,000 for the whole month.

I’m in America. Right now my savings accounts are earning between 1.65% APR and 2.1%. The online account earns the most.