Why is compound interest better than a savings account?
Let’s understand Savings Account.
As time progressed, having a savings account at a bank account became a must-have for everyone. The working of the account is fundamental “an individual has to deposit capital in the account, and they shall earn an interest on the balance they maintain in the account.” At the start, the interest rates of the savings accounts range from 2.70% to 6.00%, and it also depends upon the bank account balance and the different types of savings account of the bank. The interest on a savings account is calculated every day but only credited every quarter, and it varies from bank to bank. Here are the current interest rates for the top banks in America.
- SmartyPig by Sallie Mae – 0.70% APY
- Bask Bank – 0.70% APY
- Quontic Bank – 0.65% APY
- Affirm – 0.65% APY
- TAB Bank – 0.65% APY
- Bo – 0.65% APY
- LendingClub – 0.65% APY
- USAlliance Financial Credit Union – 0.65% APY
- CFG Bank – 0.63% APY
- ConnectOne Bank – 0.65% APY
- Ivy Bank – 0.61 % APY
- Axos Bank – 0.61% APY
- Prime Alliance Bank – 0.60% APY
- Monifi – 0.60% APY
- Comenity Direct – 0.60% APY
- PenFed Credit Union – 0.55% APY
- Barclays – 0.55% APY
- Alliant Credit Union – 0.55% APY
- Fitness Bank – 0.55% APY
- BrioDirect – 0.55% APY
Our Compounding Interest (3%)
If you invest with BlockChain Tradein, a dedicated wealth manager will handle your investments while you take the backseat and focus on your life. They will keep your portfolio updated in accordance with the market while keeping you in the loop. While you provide your business and family with the best wealth management expertise, let’s discuss our compounding interest at 3% every month.
We can say with absolute confidence that our interest rates are better than anyone another bank on the whole continent. At the same time, the banks give you an average interest rate. We give you a compounding interest. Let’s get a little deep with the calculations. Bask Bank offers you an interest rate of 0.70% per year, which is the highest rate in the market. We give you a 3% compounding interest rate per month, adding 42.6% per year. It helps you expand your wealth while we smoothly manage your portfolio.
Our services are expanded to clients from various countries while we handle vast portfolio volumes. Our full margin policy is one of the best reasons, as it gives our portfolio manager the liberty to maximize your returns in the field of your choice or in the same area you want. At the same time, manage and monitor your different accounts.
We always follow the dignified approach towards every portfolio where everything our manager does is in front of you and your teams’ eye, and nothing goes behind the scene. As a result, we make wealth management secure and straightforward.