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Feeding a Regular Savings Account with intrest off a High yield Savings account

Darragh McD · 2011-06-23 22:57:44

Hey guys read a blog online where they suggested using the interest earned from a high yield savings account to put in a Regular saving account. Say 20000 in a high yield account and the interest going monthly into the regular saving account ? Would this make you money or be pointless ?

23-06-2011 11:57PM

#1
Darragh McD

Closed Accounts Posts: 15 ✭

Join Date: April 2011

Posts: 6
Hey guys read a blog online where they suggested using the interest earned from a high yield savings account to put in a Regular saving account.

Say 20000 in a high yield account and the interest going monthly into the regular saving account ?

Would this make you money or be pointless ?

Tagged:

banking

interest

a.p.r

0

Comments

#2 24-06-2011 07:42AM

Pablo Sanchez

Closed Accounts Posts: 1,207 ✭✭✭

Join Date: May 2008

Posts: 1136

Would the interest you are earning in the high yield account not simply be rolled up into your principle and continue earning the interest rate you are getting in the high yield account?

0