is commonly referred to as interest or earned interest. This amount is usually calculated as a percentage of the total balance in your account, and it is paid to you by the bank as a reward for keeping your money with them. The interest rate can vary depending on the type of account you have and prevailing market conditions. It is an important factor to consider when choosing a bank or financial institution to deposit your money with, as higher interest rates can help your savings grow more quickly over time.
