Are interest rates on savings accounts variable?

Author	Message
Written on: 11.11.2009 [17:23]
Pratima Pratima Topic creator Posts: 3	I'm reorganising my financial portfolio at the moment, and I've learned that loan rates vary depending on your personal situation. Do interest rates on savings accounts vary too? Or are these always stable?
Written on: 15.11.2009 [23:35]
Harshad Harshad Posts: 3	Interest rates for savings accounts may vary, but not in the same way that loan rates do. Your bank will offer you a savings account and give you details of possible interest rate fluctuations (some change over time, others are based on a variable rate). Loan rates are usually based on your personal credit history. This means that you'll end up paying more for a loan when you have a poor credit record. Your credit record won't affect your savings account deal though, because the bank isn't loaning you any money – you are essentially loaning some to them!
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