How does a savings account work?
Seeking an account that I can put some money into and have to earn a little more time. Am fairly new at this and I'm not sure how. I would like to open an account and deposit a $ 1,000 Australians and have to earn a little every month or so, I'm not sure how this works, I've only read a little about it in the media, to possibly save a small amount, and have it increase a little. Please me explain how this works, I live in Melbourne, Australia if that helps. How do I have to do to start?
You do your research on rates of interest and find a bank that pays interest on your savings. The greater the interest, the best is .. obviously. You will not get rich on the interest in any medium. I have a savings account with about $ 1,000 in it and I get about $ 2.50 a month interest.
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