Welcome to Saving Accounts Guide
Types Of Savings Accounts Article
This is a selection made from among articles on Types Of Savings Accounts. For a permanent link to this article, or to bookmark it for future reading, click here.
How to compare savings accounts
from:
Are you planning to save money? The easiest to do so is by opening a savings account in a bank. A savings account is the most popular type of bank account currently available. A big portion of a bank’s business is made up of savings account.
But with the many banks out here, choosing where to open can cause confusion. Different banks offer different types of savings accounts. Thee savings accounts often offer different features. Some features are actually useful whiles some are not really practical.
If you are planning to open a savings account but is confused at the different features then read on. This guide is designed to help you choose the right savings account.
Savings and Interest
The first thing that you should look for in a savings account is the interest rate. This is the most important feature of the savings account since it will determine how much your money will earn in a certain amount of time. The interest is often indicated in the bank statement give n each month. Here you will see the interest paid to your account by the bank. This means that on top of the money you deposited, you have additional money on your account. The amount that your money will earn depends on the interest rate. Of course, the higher the interest rate, the higher will be the additional amount to your money.
Account Transfers
Account transfer is one of the more useful features of a bank savings account and is also something that you should look for. This feature allows you to transfer some or all of your money to another bank account without withdrawing money. This feature offers convenience for you since you do not have to take out your money and deposit it again to another account. This is very useful if you have more than one savings account and you want to transfer money from one of your accounts to another.
Chequing Account Link
A link to a chequing account is another common and useful feature of a savings account. This account is particularly useful for preventing overdrafts. For example, If you have a written a cheque with insufficient balance then your chequing account can cover it. Te amount is taken from your savings account and the cheque that you issued will not bounce. This feature can save you a lot of potential embarrassment. Chequing link often has an additional overdraft fee and other fees.
Online Account Access
This is a very useful feature offered by most savings bank. This allows you to access your savings account with the use of the Internet. The online transaction is done over secure connection which means that you need not worry about your money. You can perform basically functions you can do over the counter or an ATM over the Internet such as check your balance, transfer money, and other tasks. What you cannot do of course is deposit and withdraw money.
What this feature offers is convenience. A lot of time will be save d from not going to the bank yourself. This will definitely free up your time for other more worthwhile activities. And you can do most bank transactions in the comfort of you own home or even while you are at work. Online features though tend to differ from bank to bank.
Related Articles for Types Of Savings Accounts
 |
 |
Warning: file(http://www.searchfeed.com/rd/feed/TextFeed.jsp?trackID=K424758685&pID=45097&cat=Types+of+Savings+Accounts&nl=5&page=1&excID=) [function.file]: failed to open stream: HTTP request failed! HTTP/1.1 404 Not Found
in /home/savingac/public_html/datas/searchfeed.php on line 8
Types Of Savings Accounts Specific links
Types Of Savings Accounts News
Wisconsin offers new health care, day care deductions
Wisconsin residents who use health savings accounts or who have children in day care will be able to take advantage of new tax breaks as they fill out their 2011 income tax returns this year. Companies that create jobs in Wisconsin also are in line for new benefits.
Read more...How Ethnicity Affects Retirement Savings
Ethnicity is a growing area of interest for banks, largely because they want to understand their customers better.
Read more...Health savings accounts are getting a closer look
Will a consumer-managed health plan really provide incentive for you to be healthier or more conscientious about what you pay for health care? It could. But with the ever-spiraling premiums of prepaid health care, that question might not matter going forward. read more
Read more...Your Money: Keeping an investor's eye on Fed's plans that may trigger inflation
With the government pumping money into the economy and the Federal Reserve pledging to keep short-term interest rates low until late 2014, inflation could soar. What's an investor to do?
Read more...SIFE Financial Corner
Banks vs. Credit unions There is a substantial difference between a bank and a credit union. However, some do not understand the difference. Banks A bank is a for-profit institution that holds money, invests it and turns a profit. Banks offer solutions for financial needs, including different types of accounts to deposit money, credit . . . → Read More: SIFE Financial Corner
Read more...