Welcome to Savings Guide
Series Ee Savings Bonds Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
Holding a Savings Account
from:Introduction
A savings account is basically defined as a bank account designed to help the customers set aside a portion of their liquid assets, while also earning a monetary return.
Offered and maintained by a series of commercial banks, savings and loan associations, credit unions and mutual savings banks, these accounts require that the amount deposited cannot be used directly as money, thus encouraging savings.
Features and Provisions
In most of the cases, such savings account requires that the funds be kept on deposit alteast for a minimum length of time, though some also allow unlimited access to funds. In other words, there is a limit on withdrawals, payments and transfers that might be performed through a savings account.
While some of the banks will not allow any transfer of money beyond this limit, the other will notify the account holder that such a regulation has been violated. Each of the savings account holders are offered an itemized list of all financial transactions, either through a passbook or through a bank statement.
However, withdrawals from a savings account are occasionally costly and at times much higher and more time-consuming than the same financial transaction being performed on a demand account. Though most of the savings accounts do not offer cheque-writing privileges, yet there are many institutions that refer to their higher-interest demand accounts or money market accounts as savings accounts.
Latest Developments
The introduction of internet into the world of banking has made the concept of high yield savings accounts highly popular. Available through virtual banks, such an internet savings account business model is based on an attempt to offer interest rates which are higher than those available at storefront banks. A few amount of retail locations along with low customer service costs through automated and computer systems makes such a business model quite effective. In fact, internet operated banking systems are highly effective and recommended if the customers concerned are well-versed with nuances of internet and are aware of how the system works.
Experts suggest that holding at least one of such savings account is crucial if you want to develop a consistent regimen of savings and investments. The stringent regulations of most of the institutions offering such savings account do not allow you to withdraw frequent or high amount of savings from your account, which indeed have a favorable effect in the long run. In fact, to encourage and attract a large customer base, quite a few of these institutions also offer special internet rates to specific age groups as well, such as youngsters.
1
Series Ee Savings Bonds News
Public Debt Announces New Savings Bonds Rates, Series I to Earn 2.20%, Series EE to Earn 0.60%
WASHINGTON -- The Bureau of the Public Debt today announced earnings rates for Series I Savings Bonds and Series EE Savings Bonds, issued from May 2012 through October 2012. Earnings rates for I bonds and fixed rates for EE bonds are set each May 1 and November 1. Interest accrues monthly and compounds semiannually.
Read more...How to Give Savings Bonds as Gifts
The government no longer issues paper bonds, so you'll have to open an account online.
Read more...Rate of yield cut to 2.2% on Series-I Savings Bonds
With bank and money-market yields low across the board, Uncle Sam has decided to cut the rate it pays on inflation-adjusted U.S. Savings Bonds.
Read more...New savings bonds earning a rate of 2.2 percent
The Bureau of Public Debt announced the new rates on savings bonds.
Read more...SavingsBonds.com Salutes Savings Bond Owners On Memorial Day
SavingsBonds.com Salutes Savings Bond Owners On Memorial Day. US Savings Bond Owners Played An Important Role In American History.Spring Lake, NJ (PRWEB) May 22, 2012 SavingsBonds.com salutes savings bond owners on Memorial Day. US savings bond owners played an important role in American history.In May 1941, U.S. Savings Bonds were introduced as a way for Americans to save for their future, but ...
Read more...