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edgeprod · 06-11-2006, 12:57 AM

I just checked my savings account history (I did it on a goof, I usually look at the checking account history to scan for fraud, but tried it with savings to see what it did). It showed all these deposits like "interest credited" for every month, at the end of the month.

It's almost $400, though! Am I really making $300-$400 every month just for keeping money in the bank? What the fuck?

Does anyone know how this works? What's the general way to figure out how much you get for a certain balance, etc? I'd call the bank, but it's 3:57am on Sunday, haha.

Also, anyone know if CD's earn a lot better, how they work, and if there is a better option (no-risk) than CD's? "The stock market" isn't the answer I'm looking for here.

06-11-2006, 12:57 AM
edgeprod Permanently Gone Industry Role: Join Date: Mar 2004 Posts: 10,019	Bank interest? How does it work? I just checked my savings account history (I did it on a goof, I usually look at the checking account history to scan for fraud, but tried it with savings to see what it did). It showed all these deposits like "interest credited" for every month, at the end of the month. It's almost $400, though! Am I really making $300-$400 every month just for keeping money in the bank? What the fuck? Does anyone know how this works? What's the general way to figure out how much you get for a certain balance, etc? I'd call the bank, but it's 3:57am on Sunday, haha. Also, anyone know if CD's earn a lot better, how they work, and if there is a better option (no-risk) than CD's? "The stock market" isn't the answer I'm looking for here.