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Maximum Earnings
No Fees, FDIC Insured
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Savings Account

Putting funds on lock boxes or wallets would mean that you want to secure them. Yet, with inflation increasing daily, money kept it lock boxes also lose their value. While you may still have $100 left for spending, the number of goods and services you can purchase will decrease over time. This is the reason why people put their money in banks - so it can earn interest. But putting funds on savings accounts would mean securing them and making them grow. Yet, not all savings accounts are the same.

Growth and Security in Savings Account

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Savings Account
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Finding a good savings account

The savings market is flooded with many different types of accounts which can make it difficult to decide which savings account is best deal for you. You should consider several factors when you are looking for savings account. Some will provide you with a way to save more money and some will give you only a minimum rate. Higher interest rate savings accounts usually have a catch. There can be restrictions on the amount of money, the amount of time, or both, in order to qualify for a higher rate. Interest is not the only thing you should pay your attention to. Here are the general things you should look for when choosing a new savings account.

Insurance

Whether you are looking for a savings account provided by a bank or a credit union, you should make sure that they are insured. The Federal Deposit Insurance Corporations (FDIC) provides insurance to the banks, and the National Credit Union Administration (NCUA) insures credit unions. FDIC and NCUA insurance protect up to $250,000 per depositor, so you won't want to put your savings in a bank that isn't insured.

Rates

When you confirm the bank is FDIC insured, look at the interest rates they offer. It is always worth looking around for the best interest rate. Sometimes banks offer a promotional interest rate for the first few months of the account opening. The post-promotional annual interest rates may be lower though. So, check it out before you make a deal.

Fees

Make sure you are aware of possible maintenance fees and all sorts of other fees. The banks are required to disclose all their fees so take your time to review them. There can be some services charges, minimum balance requirements, and penalty fees. See if you can avoid some fees. For instance, going with paperless statements will save you some money on maintenance fees.

1 YEAR CERTIFICATE OF DEPOSIT

  • Maximum Earnings
  • No fees, FDIC Insured

MONEY MARKET ACCOUNT

  • High rates, Access to money
  • FDIC Insured

Lastest Saving Account News



Savings Overnight Averages

Product
Yield
+/-
Last week


MMA
0.11
-
0.11


MMA 10K
0.13
-
0.13


MMA 25K
0.14
-
0.14


MMA 50K
0.16
-
0.16


Interest Checking
0.17
-
0.17




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