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Are high yield savings accounts a good idea?

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Jessie Zieme

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4y ago

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Q: Are high yield savings accounts a good idea?
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What are the advantages of high yield savings accounts?

Some advantages of high yield savings accounts include security, guarantee, development of good savings habits, and growth. The maintenance of such an account is usually performed online.


What kind of rates are offered with high yield savings accounts now?

High yield savings accounts can offer rates as high as 1.75% to 2%. If you are looking for high rates another good option is to get a Certificate of Deposit.


What online banks have high interests savings accounts?

You can get a list of them here www.moneybluebook.com/the-best-online-high-yield-savings-accounts/


Where could one find a savings account with a high yield?

A local credit union would probably have the highest yields on savings accounts. Otherwise, Ally Bank, Sallie Mae Bank, and Capital One offer high yield savings accounts.


What is required to open a high yield savings account with a bank?

Banks may require a deposit of $1 to $100 to start a high yield savings account. At this time many banks are offering high yield savings accounts with fees and no minimum balance after the deposit.


Does Wells Fargo of Texas offer business savings accounts?

Wells Fargo of Texas offers several types of business savings accounts. These include Business Market Rate Savings Accounts and Business High Yield Savings Accounts.


What type of accounts does rainier pacific bank offer?

"The type of accounts the Rainier Pacific Bank offers are Savings accounts, Checking accounts, Investment accounts, online accounts, business saving accounts and high yield savings."


What high interest accounts does TD Bank offer?

TD bank offers a great high yield savings account. With the economy beginning to recover the interest rates are only going to get better in the near future. There are several high yield savings accounts available at TD bank.


Who should have high yield savings?

People with good credit should have high yield savings. This is because they are trustworthy with credit companies, and even with savings, they will pay the money back.


Are there additional benefits to opening a high yield savings account?

Often times high yield savings accounts do not require a minimum balance. These accounts can also be set up in addition to an already existing checking account you may already have which makes it easy to transfer funds.


Does Chase offer high yield savings accounts?

Yes Chase provides a high yoield savings account. The account can be created free with free online email alert and Online Statements program. It also earns a good interest.


Is the yield for a Chase money market savings account high?

The yield for the Chase money market savings account is in line with the National average.You will find the highest rates with online accounts like www.DiscoverBank.com