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Credit Union have a savings plan where the amount of interest earned is dependant on the amount of money being saved. Further information can be found on the Credit Union website.
One will find that interest rate savings can be made through one's local bank or credit union. One just needs to save money in a savings account, and/or in a money market account.
A savings account at a credit union is generally called a share account.
A savings account at a credit union is generally called a share account.
The saving account rates for Shell Federal Credit Union is 0.25%. You can read more at www.shellfcu.org/rates/business.php or https://www.peoplestrustfcu.org/ The current interest rates for savings accounts with Shell is .25%. This is a very low rate but it is better than nothing!
Getting a great interest rate on your savings can help you grow your nest egg quickly. Finding a high interest rate on a savings account takes a little research, but the financial rewards are well worth the required effort. Here are some tips to help you find a savings account with a high interest rate.Consider A Long Term Savings OptionIf you do not need to be able to access the money you have in savings, consider a long term savings account, such as a CD. When you put your money in a CD, you will not be able to access those funds for a predetermined length of time. The interest rates for these savings accounts are higher than traditional savings account options.Do Research OnlineIf you are just looking for a regular savings account that will allow you to access your money whenever you need it, you should do research online to compare savings account interest rates at different banks. Doing research online is generally faster than calling each bank individually. Make sure you read the fine print on any special offer being advertised by a bank. Some banks promise high interest rates but charge monthly account maintenance fees that offset the interest rate difference.Check Out Local Credit UnionsAnother option is to open a savings account at a local credit union. Credit unions are owned by the people who bank there, so interest rates are usually higher than they are at traditional banks. Some credit unions are not open to the public, but others are. Check out local credit unions to see if you could become a member and get a savings account with a high interest rate.Ask Your Current Bank For A Better RateIndividuals who already have a savings account with their bank but are unhappy with their current interest rate should ask their bank for a rate increase. Although the answer could be no, if you have a long standing relationship with your bank they might increase your rate because they want to retain your business. Ask your bank if they will give you a better savings account rate, and the answer might just be yes.
You can open a savings account at any bank or credit union. There are online bank savings accounts, too.
Share account
If you have a savings account at a bank, then it is a bank account. If you have it in another kind of institution, such as a Credit Union or Savings and Loan, then it is not a bank account, although some people use the term "bank account" loosely and apply it to any savings account anywhere.
A money market account is a type of savings account you can get at your local credit union or bank. They traditionally only allow 3-6 withdrawals a month, require a higher minimum balance, and provide a higher interest rate.
The average rates for a regular savings account at Park Community Federal Credit Union is 0.11%. This information can be found on Park Community Federal Credit Union's website.
depends on your bank/credit union