Which of these banks has the best bank interest rate?
This is for my finance Folks. I need some help on figuring out where I should keep my money. I have three possible savings accounts which I can keep my money. All have different interest rates and i need to know which is the best.
Bank A –
.33% interest a month
Bank B –
1.25% interest a quarter
Bank C –
3.3% Annual Percentage Yield (APY)
(i don’t really know why apy is different)
Is there a way to break each of these down to to a per month basis like Wachovia. I’m pretty sure it’s not as simple as multiplying or dividing the percentage since it’s compounding.
Which bank is best and why?
Bank B is better no matter how it’s compounded.