I need advice on getting a savings account?
I need advice on getting a savings account. Which bank has the most interest rate and which bank would you recommed I star using. Anything else I need to know I'm new at these things.
Asked By: PHX SUNS FAN - 4/27/2007
Best Answer - Chosen by Asker
The banking industry is regulated and competitive so most banks offer the same interest rate, which is based on the current Prime Interest Rate. The Prime Rate is the interest rate charged on loans for the best customers of banks. It is set by the Federal Exchange Commission once a quarter... More
Answered By: Dan S - 4/27/2007
Additional Answers (8)
BofA... trusted network. your $$$ will be safe with them
Answered By: B-Bunny - 4/27/2007
go around and ask them.. we dont know what banks are near you just say your interested in setting up a saving account and you would like to know what kind of interest you can gain from them.. ~*free tibet and chinese occupation*~
Answered By: Simeon - 4/27/2007
Most banks pay almost nothing on a savings account. They are usually less than 1%. You will have to purchase a CD at a bank that will pay 4%-6%. They have minimum terms and balances and must be left until maturity.
Answered By: Barkley Hound - 4/27/2007
well where are you from? cant tell you if we dont know what banks you have access to. You should try unions. They are seperate branches kind of like bankds, but are more rewarding. Like here in ireland i have the credit union, also the permanent TSB is good for savings, especially around this time of SSIA
Answered By: Helios64 - 4/27/2007
How much money are we talking about...best interest rates are at online banks or online accounts. ING is a good one(4.5%), HSBC Direct is good too(5.05%). However, if its a small amount of money and you want it close by, just go to whatever bank your parenst use.
Answered By: Ross - 4/27/2007
get a savings account in a bank that is convenient and is around everywhere you like to go.. BoA,*charges you for using ATM a lot, Transfer a lot, you would have to go inside the bank everytime if you pull out or deposit a lot... More
Answered By: Foxy_GrL - 4/27/2007
The smaller the bank, the higher the interest rate, generally, but many small local banks have been bought up by larger ones in the last few years. You can get information about current rates by visiting bank branches, calling, or checking web sites (some banks do not post rates on the web, though, because they change... More
Answered By: Amanda - 4/27/2007
If you are interested in opening a savings account, check out the interest rates for banks nationwide at www.bankrate.com. They also have a calculator that allows you to project how much interest you will earn... More
Answered By: ronald t - 4/27/2007
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