Banks usually offer at most around 5~10% yearly interest. At most. That means, it would take your $100 an entire year to only earn $5-10, tops. Some places may give you up to 15%, but they probably have conditions.
You should probably just spend it on some living expenses or bills, instead of letting it sit in a bank to hold. Even with compound interest, it's not going to earn much (only a few cents or dollars extra).
@Mini You are so very wrong about bank interest rates
at this time. You would be lucky to earn 5 cents on $100
for one year. Check out bank interest rates over the internet.
I was wondering where I can find a good union bank to put a hundred dollars in, what are some tips. I really want to do a good investment, how high should my interest be when I start out, are there any penalties?
