Because loan sharks have to earn an honest living.
The Interest you earn on a savings account is:An income for youAn expenditure for the bankIs fully taxableIs only 3.5% in IndiaEtc.
interest
No, only their savings account accrues interest.
100
A CD savings account might earn money for you. This type of savings account earns interest for the person who purchases the CD.
775
Savings accounts earn interest.
$775
215
$810
$43.20 more
$170.95