This can be very depressing if you're trying to watch your money pile up in a savings account. On the other hand, when rates are low, a lot of people decide it's a good time to buy a house, because they'll be charged very little interest on the loan. Now that you have a handle on what banks do and how much they pay you in interest, look at our How To Invest area where we tell you some other ways you can make your money grow. You'll do well to compare them to a bank account, to see which one is likely to help your money grow best. Remember, banks make your money grow by paying interest.
Interest is expressed as a percentage rate.
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