Linked Savings Account Meaning Benefits FAQs

What is a Linked Savings Account? A linked savings account is a type of bank account that is connected to another financial product, such as a checking account or a credit card. This connection allows for easy transfer of funds between the linked accounts, providing convenience and flexibility for the …

Annual Equivalent Rate AER Definition Formula Examples

What is Annual Equivalent Rate (AER)? The Annual Equivalent Rate (AER) is a financial term used to calculate the interest rate on savings accounts. It is a standardized way of comparing different savings products and helps consumers make informed decisions about where to invest their money. The AER takes into …