Interest from savings accounts is the money that banks pay you for keeping your money with them. When you deposit money into a savings account, the bank uses those funds to lend to others or invest. In return, they offer you a small percentage of that amount as interest, which can help your savings grow over time. The interest rate on savings accounts can vary based on the bank and current economic conditions. Typically, the interest is calculated daily and paid monthly or quarterly, allowing you to earn more as your balance increases. This makes savings accounts a safe way to save money while earning a little extra.