What do the banks pay to their savings account customers?

Banks typically pay interest on savings account balances, which serves as an incentive for customers to deposit their money. The interest rate can vary significantly between banks and may depend on factors such as the account type and current economic conditions. This interest is usually compounded monthly or quarterly and can be influenced by the central bank's monetary policy. Overall, the rates tend to be relatively low, reflecting the low-risk nature of savings accounts compared to other investment options.