>>27954258
Not really. Bank savings account interest rates are so low these days they might as well not exist.

You might be dumb for not investing that money or putting it in an IRA or something.

>>27954275
it says its's 1%. So does that mean I'll get 100 bucks after a year?

I'm not financially smart

>>27954307
Well, it's probably compound interest, so if you put 10000 dollars in there and never touched it, at the end of the year you'd end up with an extra $100.46.

You don't get it all at the end of the year, though. Usually banks will give you a portion of your interest once a month.

>>27954435
I'm not even sure that's worth it. I know it's an extra 100 but I might as well look for other places to put it

Where you should be saving your money, in order:

>Emergency fund of 3-6 months spending in savings
>High-interest/bad debt
>Tax-advantaged accounts (IRA, 401k, 403b, HSA, whatever)
>Regular taxable brokerage accounts with low expense ratios

I don't know your spending habits OP but if you can go to one of those online banks with 1% interest, you might as well