Welcome to Savings Guide
High Yield Savings Account Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
Savings Accounts – Facilities and Provisions
from:Introduction
In today’s age, an increasing number of customers are looking for lucrative options to save their hard-earned income. Each of these customers aims to look for options wherein they will be able to save their money as well as earn further interest for doing the same.
To cater to such needs, today, the financial institutions offer a vast range of facilities to such customers, which give them handsome returns in turn of depositing their savings with them. Amongst the various sets of facilities offered, it is the savings accounts which still continue to be the most popular and widely used by the customers.
The Concept and Functions
Savings accounts are basically a type of bank account, established to help the customers to keep aside a part of their liquid assets, also earning monetary return simultaneously. The most stringent principle of such savings accounts offered by the series of commercial banks, savings and loan associations, credit unions and mutual savings banks is that the customer cannot use the money deposited directly as cash, further encouraging the build-up up of savings.
Another principle regulated by these savings accounts is that the funds be kept on deposit at least for a minimum length of time, which means that there will be a limit on withdrawals, payments and transfers that might be carried out. While some banks offering such savings accounts will not allow any transfer beyond the stipulated limit altogether, yet others will inform the account owner that a violation has occurred.
At times, withdrawals from these savings accounts are costlier than the same transactions being carried out from a demand account. In addition, most of such savings accounts do not offer cheque-writing services, though there are many institutions that name their higher-interest demand accounts as savings accounts. To fulfill such saving needs of the customers, banks of all types offer good terms for savings accounts of all categories. The interest rate offered by each one of these might differ form each other, but the general trend is usually prevalent across various banks.
Experts suggest that to streamline your savings and ensure that your savings also earn further for you, it is important that you hold at least a single savings account with one of these banks. However, before you actually decide on an appropriate banking institution, you must analyze the terms offered by the bank such as the interest rates, withdrawal limits and other such features, especially in specific context of your own financial status and the results required out of your investments.
High Yield Savings Account News
High-Yield Checking Account Rates Still Rockin' - Fox Business
High-Yield Checking Account Rates Still Rockin' Fox Business But in an economy where it's nearly impossible to find a savings account that can even hit the single digits, earning an average of 2.05% on high-yield or rewards checking represents a rare opportunity to keep your cash safe and earn a decent return. Did Somebody Say 'High-Yield Checking'? |
Bankrate.com Identifies Group of High-Yield Checking Accounts That ... - MarketWatch (press release)
Bankrate.com Identifies Group of High-Yield Checking Accounts That ... MarketWatch (press release) The average high-yield checking APY has dropped from 2.56% last year and 3.30% in 2010, however, it still handily beats the next best alternative for liquid cash (an online savings account), provided the high-yield checking accountholder meets the ... Checking Accounts With The Biggest Payoffs |
Barclays Introduces New Online Savings Account and Certificate of Deposit in ... - MarketWatch (press release)
 Financial Times | Barclays Introduces New Online Savings Account and Certificate of Deposit in ... MarketWatch (press release) To help Americans achieve their savings goals, Barclays Bank today introduced a new, online, high-yield savings account and certificate of deposit (CD). US consumers can now earn one of the highest interest rates in the nation by opening a new ... Barclays US card unit bids for online deposits Barclays to Start U.S. Online Bank - Analyst Blog Barclay branches into US online banking |
Buy These Undervalued High-Yield Commodity Stocks For Less Than Vanguard Funds ... - Seeking Alpha
Buy These Undervalued High-Yield Commodity Stocks For Less Than Vanguard Funds ... Seeking Alpha Vanguard offers mutual funds and other financial products to its clients, including ETFs, individual retirement accounts, college savings accounts, and variable annuities, as well as personal advisory services. Its assets are well-diversified into over ... |
Regulators Warn: Don't Turn Low Yield Blues into "I Can't Believe I Lost the ... - Sacramento Bee
Regulators Warn: Don't Turn Low Yield Blues into "I Can't Believe I Lost the ... Sacramento Bee "If someone legitimately promises high yield, it comes with significant risk. The record low interest rates have created a fertile ground for people looking to separate people from their hard-earned savings." The state securities commission, ... |