4 result(s) displayed (1 - 4):
June 16, 2010
For many Americans, savings account equates to a piggy bank. With skyrocketing unemployment and foreclosure, millions of citizens barely have enough money to pay their bills, let alone save for the future. But, the truth of the matter is people need to set aside money for unexpected expenses, investment opportunities, and retirement.
Establishing a savings account can be accomplished from the comfort of home, as many financial institutions offer online banking. However, consumers should take time to conduct research in order to obtain the highest rate of interest and avoid transaction fees
May 31, 2010
High interest savings account refers to bank savings accounts that pay a higher annual percentage yield than traditional accounts. Prior to the banking crisis, the average rate of interest for savings accounts varied between 2-1/2 and 5-percent. Today, the average interest rate is less than 1-percent.
It is crucial for consumers to comparison shop high interest savings account providers in order to obtain the highest return on investment. Financial experts recommend seeking out banks that compound interest daily. Many banks compound interest on a monthly or quarterly basis which can substantially reduce the accrued interest; defeating the purpose of placing your money into a high interest savings account.
April 19, 2010
The average rate of interest on high yield savings is currently hovering at a little over 1-percent. Unless you are able to deposit $100,000 or more, it will be difficult to obtain a decent return on investment. However, with an hour or so of online research, you can compare nationwide and local banks to determine which offers the highest annual percentage yield (APY).
The most trusted source for high yield savings comparison is BankRate.com. When comparing savings account providers it is important to look for FDIC insured banks with a minimum 3-star rating. The higher the rating, the less risk there is bank failure
April 14, 2010
High yield savings refers to savings accounts which earn higher than average annual percentage yield. APY is refers to the amount of money earned against deposited funds. In order to obtain the highest APY, individuals should seek out banks or credit unions which compound interest daily. Many financial institutions compound interest on a quarterly basis, so it is important to shop around.
The Internet is a great source for locating high yield savings accounts. One of the most trusted sources for locating banking information, savings calculators and high interest savings accounts is BankRate.com. Visitors can compare interest rates, minimum deposit requirements for opening a savings account, monthly service fees and minimum balance requirements.