Interest rates and bank fees
Explain interest as money earned or charged for the use of money, based on the balance, the interest rate (a percent) and the stated period it applies to (for example, per year), and distinguish interest earned on savings from interest charged on loans and credit; explain fees as charges for an account, a service or an event, which may be a flat amount (such as a monthly account fee) or depend on the amount or the number of transactions; and identify the interest rates and fees on given fictional account and loan information, recognising that rates, fees and product types vary between banks and other financial institutions
Lesson
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Learning resources
Extra practice links — they do not replace Gakuva’s teaching approach.
Consumer Financial Protection Bureau · Practice link — not the full lesson
Money as You Grow
Before you open · source notes
Money as You Grow supports Interest rates and bank fees. An adult previews and guides; this is a learning page, not a scored quiz.
Free educational page, no sign-in required for the tested path.
Before you openAsk the learner one fact they learned and one question they still have.
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Source, access and review notes
Public Consumer Financial Protection Bureau page. An anonymous GET on 2026-11-12 returned HTTP 200 with no login or payment prompt for this URL. Opening the link does not save practice or assess mastery. An adult should preview and guide the learner.
Consumer Financial Protection Bureau. “Money as You Grow.” External page; Gakuva does not copy, host, embed, or redistribute materials.
Unknown — link only
Check understanding
- Read a fictional savings-account card and a fictional loan card and identify each interest rate, the period it applies to, and each fee and what it is charged for
- For a given balance, rate and period (for example, $200 at 3% per year with a $2 monthly fee), explain whether the account holder earns or pays the interest, why a larger balance changes the interest but not a flat monthly fee, and why keeping the account for more months adds more monthly fees
- Compare two fictional accounts or loans over the same given period and explain which features (rate, flat fee, transaction-based fee) matter most for a described use, without calculating compound interest
“If your child sees a pretend bank card saying "2% interest per year, $1 monthly fee" and a loan card saying "9% per year plus a $5 monthly fee", can they explain who pays the interest in each case, what the fee is for, and why keeping the account longer means paying more monthly fees?”
Curriculum record
- Type
- Conceptual
- Subject
- Life Skills
- Domain
- Money & Finance
- Age range
- Ages 11–13
Standards