I have a saving account which can earn at most
0.25 %p.a on BANK A.
another despoit account in BANK A for my daily usage.
BANK B is offering 0.4% per year for the saving account.
The interest rate is tempting for me to save at BANK B because it's almost double.
I know I have
flexiblilty to tranfser and manage money between two accounts of my BANK A.
but BANK B interest rate is so tempting for me too.
Should I close saving account of BANK A and transfer all money to BANK B?
Should I left some money for some category (eg.Emergency Fund) in BANK A and open a new saving account in BANK B and move the rest of money to it?
or better idea?
PS: For BANK A accounts: mostly I don't touch the money from saving account to which transfer automatically from my deposit account. but I do sometimes deposit left over money to it from my deposit account at the end of every month manually too.
I am quite stuck for this situation.
Edit: I know I have to check the terms and condition at the BANK B too :)