Compare Savings Accounts

0
0
0
0
0
0
0
0
0
or copy the link

The Necessity of a Consumer to match Savings Accounts: Once-a-year Percentage Yield, Bare minimum Balance, and Fees

With all the current options available at both traditional brick-and-motor and the newly-emerging web banking services, customers now have more strength than ever to compare cost savings accounts.

The most important key to consider when a customer decides to compare cost savings accounts is the interest rate. Interest rates fluctuate on a regular basis, and it may be hard for a consumer to keep up with charges that change when they’re based on a day-to-day basis. A number of savings account calculators right now exist on numerous financial websites to help predict how much confirmed investment will generate over a particular period of time. By calculating these kinds of numbers along with a monetary institutions current rate of interest, one can easily get a ball-park estimate on the initial investment in addition to the gain.

Internet financial services are hoping to draw in consumers attention with more hostile rates of interest than a few brick-and-mortar counterparts. Some internet-only organizations like ING Primary, can boast any consistently higher rate of interest than many more conventional bank. Several economic internet websites like http://moneycentral.msn.com or http://www.CNNmoney.net offer current charges of banking institutions to aid consumers compare cost savings accounts.

While the rate of interest is probably the most important factor each time a consumer wishes to check savings accounts, she or he should not forget to look at other factors that affect their investment. One aspect to consider is the minimum stability that a bank needs to open the consideration. For some financial institutions, the particular minimum balance to available account with the premier or perhaps premium high interest rate might be thousands of dollars — this may be far more than a person desires to put away, when the savings account is intended regarding short-term use. Some finance institutions may require that a monthly balance must be met, or fees will certainly assessed to maintain the particular account.

Depending on the goal and time period from the investment, one may desire to compare savings company accounts to favor either a high rate of interest or perhaps low fees evaluated. With so many choices available, however, it is even easier to find the right consumer banking institution if one stays just a little time on research.

Comments: 26

  1. Rey March 6, 2013 at 8:06 am Reply

    I’m looking to open an online savings account- or at least one I can access online. I’m not opposed to actual branches either.

    What are some good online banking companies to open savings accounts for my kids with higher interest rates? What are your good and bad experiences with the company you recommend?

    Thank you!

  2. Constance March 10, 2013 at 2:52 am Reply

    I would like to do better with saving my money. I have a retirement 401K and money purchase pension plan through my employer, but would like to work toward saving at least 6 months salary for emergencies. What is the best way to save my money so that it gains interest at a good rate, but is accessible if I need it? Savings account, money market, CDs, or something else? And can anyone recommend a good website that compares interest rates of different banks? Thanks.

  3. Valentin April 4, 2013 at 5:58 pm Reply

    I want to change my account from Nationwide to a different bank.
    I need to open a current account, savings account and ICA,what could I use to find out the best benifits (interest etc)?

  4. Damion April 11, 2013 at 1:21 am Reply

    Savings Account;
    Money Market;
    Traditional IRA;
    Roth IRA; or
    Term Share Certificate

    You can only choose up to 2 options, and Why.
    Thanks!

  5. Indira July 4, 2013 at 12:21 am Reply

    Shorter-term treasury bills are earning ~1% these days.

    My money market savings account is earning ~3.5%. It’s been at this rate, or higher, for years. Since it’s FDIC-insured, its credit risk isn’t substantially more than that of a treasury bill. And, it’s more liquid.

    So why would someone put their money into treasury bills?

    Thanks!

  6. Forest August 3, 2013 at 2:44 am Reply

    Im 15 and i want to start a savings account with bank of america i compared it to other banks and it looks the best, in my opinion, and i want to get the Regular Savings program.

  7. Jo September 15, 2013 at 10:11 pm Reply

    My credit has about 3 maybe 4 things on it that aren’t so good. I’ve been trying to get a credit card and build my credit up but I only get approved for prepaid cards. They want me to deposit $300-$500 a month for 3 months into a savings account for them and then I get approved to use that card. If I had that kind of money, I wouldn’t need the damn card in the 1st place, lol. Any suggestions? please?
    All the things on my credit report are from like5-6 years ago…..I have paid them all off. I am responsible with my finances now…..All that from before was when I was a single mother of 4 very young kids and trying to do the best that I could. So I don’t think you should say that I’m basically irresponsible. All I wanna do is pay for the new engine my van needs. And then have it paid for and make payments. I can’t afford to pay for the whole thing at one time.

  8. Darwin September 16, 2013 at 2:27 am Reply

    The point of a savings account is to save up your money I know, but what bank offers what perks? Is there a website that compares or anything?

  9. Emmitt November 12, 2013 at 4:09 am Reply

    How can I get a savings account? What is the best back service to use.

    I am only 16 and I want to start saving with a bank account. I need more info on how to start. I know there is a trust fund and just a saving account for people under 18.

  10. Ai December 23, 2013 at 4:27 am Reply

    Considering that when u have to withdraw from ur retirement account you are taxed. But withdrawing from your savings account u r not taxed.

  11. Carlton December 23, 2013 at 4:29 am Reply

    I live in CT. What online savings account is the best?

  12. Willy December 30, 2013 at 8:08 am Reply

    I’m a 21 year old college student and I’ve had a Bank of America checking & savings account since I was 17. It’s time for me to get a credit card and I’ve doing some research and I am unsure how to make a final decision. I initially went on BofA & checked out their offers and then I searched “Best Credit Cards for College Students” and “Worst Credit Cards for College Students” & read some articles. Some articles state how rewards programs aren’t the most important for student credit cards but then they compare and put emphasis on different rewards programs between different card companies and now I’m stuck. I don’t really care about rewards programs but those articles makes me feel like I should… I really paid more attention to the APR rates, interest rates & penalties, all the fine print stuff. I’m a financial responsible person so I’m not too worried about penalties because I know the importance of building a good credit score and MAINTAINING it since my father has the worst credit ever and is financially irresponsible…(so I definitely know I will never follow in his footsteps, it’s not even an option). I just need help on what’s the “catch” with student credit cards and on whether I should just apply for a BofA one since it’s I have my debit card with them… From the articles I read, the “Discover It” credit card for students was ranked #1 on every list while BofA wasn’t ranked on any list. But the rankings put emphasis on rewards programs… Are rewards programs really a big deal (especially for a college student)? Plus I don’t really spend much to earn points and really wouldn’t want to begin spending more to earn special points or cash back. I just want to build up good credit score, thats all. My first purchase will be a laptop in which I have no problem paying it in full cash but it would be smarter just to pay if off on credit. *Sighhh* I’m just trying to get some assistance in filtering out the bull-ish with these terms and conditions of these credit cards… PLEASE HELP!!!

  13. Jimmie February 21, 2014 at 6:26 am Reply

    Hi im a student and want to put money into a savings account with a good monthly interest rate for a few months. The reason is I am looking for a house to rent for next year but I need a deposit of around £200, then pay for rent over the summer months (july and august) of around £500. So I am looking for a savings account that I can put some money in each month and the bank will add interest to it every month not once a year. So that in july I can take some money out to pay the rent. Can anyone advise me? Thanks for any help.

  14. Lanny February 21, 2014 at 6:26 am Reply

    So I have a job and I have $400 in my savings, I get paid $100 a week for what I do sometimes I get like $112 or $154 I don’t normally get $100 I get some tips or change from stuff, anyways should I just throw it into my savings account? I usually just deposit $100 and keep the rest but the fact I have some cash in my wallet makes me want to spend it and waste it, I have some money in my checking account but I just want to know if I should just throw in money in my savings. What should I do? I don’t know if this makes any sense

  15. Berneice February 21, 2014 at 6:27 am Reply

    I want to put some money in a savings account and keep it there for at least one year, i’ve heard alliance and leicester do a high interest one. Any recommendations?

  16. Werner February 21, 2014 at 10:53 pm Reply

    hey im in india and i wana open a new savings account… its been really hard to decide onto which one to choose.. please suggest… i need the account for personal use and wud do nuthin more than crediting and debiting money!!

  17. Damion February 22, 2014 at 6:35 am Reply

    I am trying to find a way to get the most out in the long run for the money that I put in.

  18. Dell February 22, 2014 at 6:47 am Reply

    I have £12,000 pounds sitting in an ISA. My bank Halifax just cut my interest rate to 3.11%. This seems a little bit low. But if I move some to a different ISA as far as I understand I can only invest £3600 before april.

    Meaning the rest will have to go into a taxable account (possibly negating any savings from a higher rate!)

    What would be my best move? I don’t need it all to be liquid, but I would like to have a few thousand to dip into just in case.

    Thanks for any recommendations…

  19. Domingo February 22, 2014 at 6:56 am Reply

    how would having 40-100k (in a pre-existing savings account) effect your income taxes, especially if the money were in an account under your name, AND you were a first time home buyer? Would you be paying taxes or geting a refund (I know that home buyers-especially first time home buyers-get a reasonable refund)

  20. Ranae February 25, 2014 at 3:39 am Reply

    I am with Bank of America and they keep asking me to open a savings account everytime i cash my check (i have checkings acc with them)

    should i open it with them? and do this weird “keep the change” program or do ING direct which I read on the internet about just recently

    thanks im still young and dno whwat to do
    how do i look at my options and how do i research etc etc

  21. Danna March 8, 2014 at 1:20 am Reply

    I’m a 20 year old college student trying to learn how to be smart with my money. I’m interested in learning good ways to save and invest my money.
    I’ve saved up about $800 in a savings account right now, but I receive only 0.25% interest on it and I want to get more. I recently read a blog that recommended ING Direct and checked out the website. It looks good, but I have so little experience with banking and investment that I’m afraid to take risks with my money (college student = poor/scared to lose money). So here are a few questions, feel free to give me any more advice:

    1. Is ING saving or investment? Are there risks?
    2. Do they only have one type of account?
    3. What are CDs and how do they compare & contrast with ING?
    4. What should I be doing with the money I’m saving?
    Hey guys, thanks for all the feedback. Since so many of you were so kind I’ll let the community pick best answer.
    Thanks again.

  22. Alfonso March 8, 2014 at 1:20 am Reply

    Im 15 and my dad is always telling me I need to make a bank account because I have to much money to be just sitting in my room, all together I have about 500 something dollars,but with all that money its all saving up towards different things. I dont get paid weekly or anything I just get paid if I offer to do a chore I dont normally do(like wash the car,mow the lawn,clean the entire house something big like that) I just get money around holidays mainly…
    what IS a savings account exactly? Im not really for sure..do you think I should get one?

  23. Lavern March 10, 2014 at 7:50 pm Reply

    I just got a job and when I get paid I was wondering if I could open up a savings account being the age that I am. Im saving up for a mustang this christmas, and with the money I have I am going to put down, then pay insurance and car note. I know it’ll be a lot but I make $800 a month. I am a male btw.

  24. Nickolas March 10, 2014 at 7:50 pm Reply

    Which bank is the best for a basic current account? Thanks 🙂

  25. Bruna March 10, 2014 at 7:50 pm Reply

    savings accounts

  26. Willard May 5, 2014 at 8:28 pm Reply

    okay so i am 12 (i will be 13 next month) and i want to open up a savings account. I understand that my parents will have to give me permission and do all the paperwork. I only want a savings account not a checking. I wanted to know do you get a debit card with a savings account? and also what bank is better bank of america or HSBC? also what is interest? and would i be able to take out money or would my parents have to? I know i have a lot of questions but i really need the answers to this please help! Thanks.

Leave a Reply

Your email address will not be published. Required fields are marked *