When you borrow money from a financial institution you will be charged an interest rate
set by the lender. In this circumstance, an interest rate is a percentage of the sum of money borrowed and compounded over one year. On the opposite hand, if you deposit money into an account, whether it is your everyday debit account or a savings account
, you will earn money from an interest rate because the financial institution uses your money to fund its lending division or invests it to grow their business. The more you deposit, the more interest you earn, and the more you borrow, the more interest you will generally have to pay.
The table below lists the best interest rates for cash management trust accounts.