Does the normal saving accounts earn interest in your country?

[Stardom22]

In my country, almost all of the bank's here doesn't pay interests on the saving accounts for that matter. Instead they charge on transaction fees and things of that sought.

 

[Springtime]

Normal savings accounts do earn interest in my city. But the interest is very low.

 

[Augusta]

Yes it does but with request withdrawing tajes away such privilege from the saving account. I don't get mine as I withdraw a lot.

 

[eLdavis]

Yes a normal savings account earns interest, but the interest is usually very low compared to that of a fixed deposit account.

 

[King Belieal]

Savings accounts always earn interests. I have one though for twelve years and I have always had funds in. But I doubt the interest has ever been cumulatively up to a dollar.

 

[Starmix]

Yes, there is but very small interest. If you have a huge deposit most likely, you will also have a higher interest for your savings,

 

[Suba]

In developing countries, the same method is often applied as in other countries. In my country, all government banks do not give interest on normal saving accounts with balances below $3000. Even if the balance is above the limit, they only get a small interest rate that is not commensurate with the deductions charged, such as withdrawal transactions. Transfers via ATM or mbanking will also be subject to admin fees. So if the balance is not added, the balance will run out in a few years.

 

[Min George]

The normal savings account in my country earns interest. But that is very small. I think it is because you are free to withdraw everything from such accounts.