Welcome to Saving Accounts Guide
Highest Interest Rates For Savings Accounts Article
This is a selection made from among articles on Highest Interest Rates For Savings Accounts. For a permanent link to this article, or to bookmark it for future reading, click here.
Interest Rates on Savings Accounts
from:
People who decide to put money in the bank do this for two reasons. The first is to keep this in a safe place. The second is to earn a few more dollars because of interest as a way of rewarding the customer for doing business.
There are different types of interest rates around. The basic one is called simple interest. If the person puts in $100 in the account and the rate of the bank for a year is at 5% that means the person earned $5.00 more at the end of the year.
But this is considered very slow and people want faster results so the bank came up with a better plan that offers compound interest.
Compound interest works on three factors. These are the amount in the account, the annual percentage yield and the time frame.
Going back to the example of simple interest, if the person earned $5, there is another corresponding interest that will follow so more money will be added to the account.
The goal of compound interest is to make the money earned work hard for the person. The individual has enough things to think about already and this additional revenue can help extend the present savings.
The person will be able to make more once additional funds are deposited into the account. The person can check the various rates of banks first to be sure this place is worth investing in.
If the person is rich and has a lot of money to deposit, there is a very good chance that the bank may offer a better rate than what is normally given to customers.
This is called a high yield savings account. Aside from having a lot of money, the person will be required not to touch this for a given amount of time. Transactions if necessary are very limited and other investments with the bank are ongoing.
There is another type of savings account but will require the person to work hard to make the money earn interest. This is called internet bank accounts and the individual should have access to the web to make transactions.
This is very convenient for those who are tired of lining up at the bank or doing business in the automated teller machine. All the person has to do is log on and link the accounts to make transfers and other things which will be rewarded by the bank. Some banks that practice this are HSBC, ING Direct and Emigrant Direct.
Banks have come a long way ever since these were first established as a means to hold money. These institutions help people pay for houses or a car if there aren’t sufficient funds to pay these off.
The person can take advantage of the products and services of the bank by doing some checking first such as the annual productive yield and type of interest rates that are offered.
By being able to save a little everyday, the person will have more than enough money to pay for bills, loans and other things needed for everyday living.
Doing this early will be rewarding in the future since this can later be used to buy the luxury car or taking a trip with the family which the whole family will surely enjoy.
 |
 |
Warning: file(http://www.searchfeed.com/rd/feed/TextFeed.jsp?trackID=K424758685&pID=45097&cat=highest+interest+rates+for+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
Highest Interest Rates For Savings Accounts Specific links
Highest Interest Rates For Savings Accounts News
Itchy Investors Ramp Up the Risk - Wall Street Journal
 Wall Street Journal | Itchy Investors Ramp Up the Risk Wall Street Journal The central bank has held short-term interest rates near zero since late 2008 to spur the economy and help the housing market. One side effect of that policy is lower returns on savings accounts and other low-risk investments. How To: Make low interest rates work for you Key moves for surviving low interest rates |
Best Bank Account Interest Rates - Summary for Week Ending February 4, 2012 - Deposit Accounts (blog)
 Deposit Accounts (blog) | Best Bank Account Interest Rates - Summary for Week Ending February 4, 2012 Deposit Accounts (blog) There were a few rate cuts this week, but it wasn't as bad as I had feared with the new month after the Fed's new late-2014 policy. There was even some good news. Salem Five Direct has started another savings account promotion for new customers. |
College Savings Bank Introduces New High Yield, FDIC Insured Savings Account ... - MarketWatch (press release)
College Savings Bank Introduces New High Yield, FDIC Insured Savings Account ... MarketWatch (press release) The College Savings Bank Honors(TM) Account offers one of the highest yielding, FDIC-insured savings account rates within the 529 industry. PRINCETON, NJ, Feb 02, 2012 (BUSINESS WIRE) -- With one of the highest rates available in the 529 market, ... |
Banks urge savings account tax breaks from Wayne Swan - The Australian
 The West Australian | Banks urge savings account tax breaks from Wayne Swan The Australian THE nation's bank leaders have challenged Wayne Swan to give new tax breaks on savings accounts to give the banks access to cheaper money. The banks have also warned that pressure from the Treasurer to absorb higher borrowing costs threatens to push ... Swan puts rate heat on banks |
America's Best Rates 2011 Q4: Getting more from your savings - MoneyRates
 MoneyRates | America's Best Rates 2011 Q4: Getting more from your savings MoneyRates This data exposed some noteworthy trends, including the fact that the savings account interest rates at the online banks roughly quadrupled the rates offered at their brick-and-mortar counterparts. A key feature of the America's Best Rates survey is ... Highest Savings Account and Money Market Interest Rates Pay About Four Times ... |