Accordingly, in his speech, President Truman requested that Congress provide $400,000,000 worth of aid to both the Greek and Turkish Governments and support the dispatch of American civilian and military personnel and equipment to the region. Truman justified his request on two grounds.
Money grows in a savings account because: a. The account holder usually makes small deposits regularly into the account. b. The money in the account earns a small interest and hence keeps growing in value. A savings account is one in which customers save their monthly savings and they are not like the current account. Though the money is available at any time for the customer to withdraw, money is not as frequently deposited/withdrawn from it like the current account. Hence banks offer a meager interest rate for the money held in this account. Money grows in a savings account because: a. The account holder usually makes small deposits regularly into the account b. The money in the account earns a small interest and hence keeps growing in value
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.