What is Employment Law? Employment law governs the rights and duties between employers and workers. Also referred to as labor law, these rules are primarily designed to keep workers safe and make sure they are treated fairly, although laws are in place to protect employers interests as well. Employment laws are based on federal and state constitutions, legislation, administrative rules, and court opinions.
Savings accounts always accrue interest. The interest rate depends on the bank, the type of savings account (e.g., see Money Market vs Savings Account), and the amount deposited, but is always higher than the interest rate on checking accounts.As of August 2014, the highest interest rate on savings accounts (in the United States) is about 0.6%. savings account, as the name suggests, is used to save money for a longer period of time. The idea is to let that money accrue and not use it unless there is an emergency or until it is time to pay for college tuition or purchase a significant item, like a house or car.
As you can see in the table above, MoneyRates.com regularly monitors bank rates from more than 200 banks to highlight the best savings account rates. But as important as rates are â they are likely to be one of the central factors in your choice of bank â they are still only one component of a savings account. To understand what else you might need from your savings account, itâs important to understand what part savings accounts should play in your finances.