Compare Best Bank Interest Rates
There are many different types of financial products on the market today to choose from that make the banking industry rich with choices to better our own personal finances. You might be looking to save or invest money, finance a car or home, or access funds through a checking account — most banking services can be divided into deposit and loan products. In banking, its important to remember that bank interest rates play a significant role for the banker and consumer. With a deposit product, like a savings or checking, account holders can earn interest; the amount one receives is calculated according to a figure called an APY, or Annual Percentage Yield. For loans, a banker or lender charges a borrower interest to pay back; in this case, the rate is called an APR, or Annual Percentage Rate.