Welcome to Savings Guide
Us 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
Us Savings Bonds News
SavingsBonds.com Salutes Savings Bond Owners On Memorial Day - Albany Times Union
SavingsBonds.com Salutes Savings Bond Owners On Memorial Day Albany Times Union US Savings Bond Owners Played An Important Role In American History. SavingsBonds.com salutes savings bond owners on Memorial Day. US savings bond owners played an important role in American history. In May 1941, US Savings Bonds were introduced as a ... |
U.S. Treasury Encourages Gift of Savings Bonds this Graduation and Wedding Season - Albany Times Union
U.S. Treasury Encourages Gift of Savings Bonds this Graduation and Wedding Season Albany Times Union This summer, the US Department of the Treasury is encouraging Americans to consider savings bonds as graduation gift and wedding gift ideas. The gift of digital savings bonds is a great way to help children or young people take control of their ... |
Mystery solved: Bond owners located - Victorville Daily Press
Mystery solved: Bond owners located Victorville Daily Press A story in Tuesday's Daily Press has led to the discovery of two women whose grandmother left them nearly $40000 worth of US Savings Bonds. Misty Dawn Brown of Louisiana and Sherri Lynn Sumner of Buena Park (whose maiden names were Russell) were ... |
U.S. Stocks Pare Loss as Monti Says Most Leaders Back Euro Bond - San Francisco Chronicle
U.S. Stocks Pare Loss as Monti Says Most Leaders Back Euro Bond San Francisco Chronicle May 24 (Bloomberg) -- US stocks pared losses after Italian Prime Minister Mario Monti said a majority of leaders at a European Union summit backed joint European bonds and that Greece won't leave the euro. Apple Inc., Bank of America Corp. and ... |
Mystery money: Local man finds $40K worth of bonds - Victorville Daily Press
Mystery money: Local man finds $40K worth of bonds Victorville Daily Press He opened it and found two $10000 US savings bonds. “My first thought was, 'Dad forget to tell us about something,'” said Parks, a 44-year-old resident of Apple Valley. “Then I realized (the bonds) were in other people's names. |