Search Results for: saving accounts

What You Need to Know About High Interest Saving Accounts

...The US rate of savings is not as high as other nations; for example, India has a far better personal savings rate per capita. It is interesting to note that among wish lists like New Year’s resolutions and things to do to improve finances, saving more ranks quite high.... more

Breaking Down High Yield Savings Accounts

...Demand Is The Key Bank interest on savings accounts is a phrase with literal truth; the bank’s level of interest in new accounts determines the rate of interest paid. When the banks need more funds to make profits on loans and investments, they will pay more to attract depositors.... more

FDIC Insurance: What it is and How to Maximize Coverage.

...FDIC insurance covers deposit accounts. At the most basic level, any time a person places their money into an FDIC covered bank or other financial institution, their money is insured against the bank failing. That insurance is conditional though, and it’s worth it to take some time to understand... more

Online Checking Accounts Explained

...Many banks offer electronic access to account details, but have you considered doing all of your banking exclusively online? Online checking accounts deliver the benefits of regional banking with only a few drawbacks. First, an online checking account from an FDIC-insured bank still guarantees that your money will be... more

6 Tips on How to Compare Checking Accounts

...a bank’s website before making your decision. In some cases you may even be able to open your account online. 6. Compare Interest Rates and other added benefits Something else to consider when comparing checking accounts is the amount of interest earned. With rates being at an all time low,... more

A Savings Account Interest Update

...each payday; one could build a nest egg, and a shelter from any future emergency. Savings account interest rates were a key part of the approach; they assured compounding and passive income. One key measure of economic stability is the percentage of disposable income that Americans place into savings accounts,... more

6 Ways to Compare Banks

...Each year, roughly one in five people talk about dumping their banks, but few ever do. Setting up accounts can turn into a decades-long commitment, which is why choosing the right bank is crucial. Asking the following questions can help you compare banks and select the best guardian for... more

8 Reasons You Should Have a Savings Account

...cut out the high interest charges and stay on track to pay off your debt. 3. You need overdraft protection. At many banks, you can avoid insufficient funds fees by linking your checking and savings accounts and setting up overdraft protection. If you spend more than you have available in... more

Five Alternatives to Traditional Savings

...accounts undercut the rate of inflation by substantial margins, and most economists expect this “new normal” to persist for years. Although they’re not entirely free of risks and drawbacks, these five investment alternatives to traditional savings accounts promise strong returns for short-term and long-term savers alike. Certificates of Deposit Certificates... more

The right savings account for you

...Savings accounts can be as different as the people who use them. If you need a better way to stash away cash, here are some tips for choosing the right savings account based on your banking personality type. The ATM Bandit You know the location of every ATM near... more