Welcome to Saving Accounts Guide
Good Interest Rates On Savings Accounts Article
This is a selection made from among articles on Good Interest Rates On Savings Accounts. For a permanent link to this article, or to bookmark it for future reading, click here.
Benefits of high interest savings account
from:
One of the ways to ensure that you will have a secure future is through investments. There are many kinds of investments that one can avail of depending on one’s needs, preferences, and one’s excess money.
For instance, there are investments that require huge amount of money that you cannot easily withdraw should you decide to use it for other purposes. Examples of these kinds of investments are bonds and time deposits, which necessitate your money to be tied up for a specific period of time. Bonds and time deposits also require a big amount of money as initial deposit.
Another consideration that one must look into is the kind of risk that you are willing to take. There are investments that are riskier but may yield a higher return in a short period of time while there are others that are more secure and will eventually yield the same amount except that you have to wait for a longer period of time. Examples of more long term forms of investments are bonds and treasury bills while examples of riskier investments are stocks and foreign currencies.
One kind of investment that is hugely popular with the masses is the high yielding savings account. Its popularity may be attributed to its convenience and its already established presence in the market. Let’s face it, everybody knows what a savings account is while only a few even know that time deposits actually involve money and not some kind of time schedule. Because people are more familiar with the concept, they are more likely to avail of this kind of investment compared to other kinds where they have to do some research.
A high interest savings account is generally similar to your normal savings account. The procedure for availing one is much the same. Even the transactions involved are the same except for some concessions. Because the interest rate for your money is higher than the normal savings account, the bank requires more from you.
Some banks will require higher initial deposit for high interest rate savings account. There are even some that will impose a no withdrawal policy in exchange for an additional interest rate. This is why high interest rate savings account are suitable for people who have a lot of excess money and just wants to invest. In fact, most people with a high interest savings account will have another account for personal use.
High interest savings accounts are only opened for investment purposes only. It is of course best to ask your bank for other options as there are lots of kinds of high interest rate savings account. The interest that your money will earn will depend usually upon the amount of money that you are wiling to put into the savings account. The bigger the amount, the higher the interest rate.
One advantage that high interest savings account provides consumers is the minimal risk that it poses. Unlike stocks whose value may go up or down depending on the market, the value of your money in a savings account will steadily go up because of a fixed interest rate that is provided by the bank.
Another convenience that high interest rate savings account provides is that any time you can close the account and withdraw the money. Unlike with time deposits, your money will not be tied up for a certain period of time and you are relatively free to use it during emergency.
 |
 |
Warning: file(http://www.searchfeed.com/rd/feed/TextFeed.jsp?trackID=K424758685&pID=45097&cat=good+interest+rates+on+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
Good Interest Rates On Savings Accounts Specific links
Good Interest Rates On Savings Accounts News
Savers hard pushed to find a decent rate - Herald Scotland
 Herald Scotland | Savers hard pushed to find a decent rate Herald Scotland According to research by moneysupermarket.com, one in three savers have never checked the interest rate paid on their savings despite holding their accounts ... Flagstar Direct Money Market Savings Account Rates |
Nearly all savings accounts pay interest rates below RPI inflation - BBC News
 The Guardian | Nearly all savings accounts pay interest rates below RPI inflation BBC News With interest rates at a record low and some of the more generous savings deals having been pulled from the market, savers are finding it tough to get ... Finding the Right Savings Account for You CDs or Savings Accounts in Today's Interest Rate Environment? Savers in the dark over interest rate changes |
Money Market Account Rates Deal of the Day: West Town Savings Bank at .75% APY - Go Banking Rates
Money Market Account Rates Deal of the Day: West Town Savings Bank at .75% APY Go Banking Rates Try a money market account instead. You'll earn an interest rate that beats any savings account, but will be able to make a few withdrawals if you need to. ... Discover Bank Savings Account and CD Review - Available Nationwide Top Money Market accounts |
Would your finances pass the stress test? - Telegraph.co.uk
Would your finances pass the stress test? Telegraph.co.uk If you fail: Consider a regular savings account to get your rainy day fund up to scratch. These often offer high rates of interest to those who pay in a ... Isa war sparks into life as societies up their rates |
Nationwide to charge for card use abroad - This is Money
Nationwide to charge for card use abroad This is Money Add the terrible rate of interest paid on its instant access savings accounts and you're left with a lame duck. I still have a savings bond with them but ... |