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- In banking, the term "earn" has the following meanings:
- Compound interest: Interest that applies to the original deposit as well as any newly earned interest1.
- Earnings: To get money as profit or interest on money you lend, have in a bank, etc.2.
- Earnings credit rate (ECR): The imputed interest rate calculated by banks to account for the money they hold in non-interest-bearing accounts3.
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.Interest that applies to the original deposit as well as any newly earned interest. For example, if you put $100 in an account that earns compound interest at 5% a year, in the next year you will earn 5% on $105. Non-compounding interest would continue to earn 5% on $100.www.nerdwallet.com/article/banking/banking-term…[transitive] to get money as profit or interest on money you lend, have in a bank, etc.www.oxfordlearnersdictionaries.com/definition/engli…The earnings credit rate (ECR) is the imputed interest rate calculated by banks to account for the money they hold in non-interest-bearing accounts.www.investopedia.com/terms/e/ecr.asp - People also ask
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Earnings Credit Rate (ECR): Understanding the Banking Metric
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Earnings credit rate (ECR) formula & breakdown
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Earnings Credit Allowance vs. Earnings Credit Rate
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What Is the Earnings Credit? - AFP
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EARN | English meaning - Cambridge Dictionary
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EARN definition and meaning | Collins English Dictionary
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EarnIn review September 2024: Get up to $750 per pay period
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