What is the difference between savings or interest bearing account? ?

Question

for example, someome wamts to open an account with a bank. which account should she pick if she wants to pay the least interest?

Answer 1

interest bearing account means that you will be paid interest for having your money sit in the bank.  Usually all savings accounts pay interest, very little interest but it does give you some interest every couple of months.  CDs usually bear a higher interest rate but you will need to put more money down and have it sit there for a period of time before you can take the money out.