Banking terms can be SO confusing. If you ever wondered what an interest rate is and how it works between a checking account and a savings account, this video is for you. An interest rate is the cost of borrowing money or the reward for saving it. Watch for a deeper explanation of how interested work and an extra pro-tip on how a high yield savings accounts. This is a key part of your financial management strategy so you don't want to skip this video. Subscribe to Chime for even more smart spending insights 💚 Connect with Chime! 🟢 Subscribe for more tips: youtube.com/chime⁩ 🟢 Explore financial tools: chime.com 🟢 Stay updated: Follow us on social media ►► Facebook: facebook.com/chime ►► Instagram: instagram.com/chime ►► TikTok: tiktok.com/@chime ►► X (FKA Twitter): twitter.com/Chime ►► Reddit: reddit.com/r/chimefinancial ►► Discord: discord.com/invite/chimefinancial Chime, America’s #1 Cho...