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Have Banks Revised their Rate of Interest on Savings Accounts Already?
Yes. Not many banks have done it so far, but some of the Private Banks have done so already. 1. YES Bank - 6% for all Savings Accounts 2. Indus Ind Bank - 5.5% for Savings Accounts with balance of less than 1 Lakh and 6% for Savings Accounts with balance of greater than 1 Lakh 3. Kotak Mahindra Bank - 5.5% for Savings Accounts with balance of less than 1 Lakh and 6% for Savings Accounts with balance of greater than 1 Lakh More Banks are expected to follow suit.
Does PNC Bank offer savings accounts for children?
The PNC Bank does offer savings accounts for children. They are happy to promote them because children are less likely to build up overdrafts for instance. The accounts are provided free of charges.
Does Second Chance Checking offer savings as well as checking accounts?
"As far as I can tell, second chance checking does not offer any savings accounts. They strictly provide checking accounts to individuals with less that perfect credit histories."
When Compared to basic savings accounts CDs are liquid and have interest rates?
more; lower
When comparing certificates of deposits to savings accounts one would say certificates of deposit are less liquid?
True
What are the best interest rates offered in online savings accounts?
According to the website, Money Rate, the bank that provides the highest interest rates on online savings accounts for less than 10,000 dollars is Ally Bank with a rating of 1%.
Is the interest rate paid on savings accounts generally less than the rate paid on checking accounts?
Actually it is the other way round. The interest rate paid out on a savings account is generally more than that paid out on a checking account. Checking accounts offer very little or no interest at all in most countries whereas savings account offer a small interest rate.
What is the interest rate on savings accounts 2010?
In India the savings account interest rate is 3.5% calculated on the balance at the end of every day. Though 3.5% does not seem to be very high, it is significantly higher than most countries because based on my experience the interest offered on savings accounts in developed nations is less than 1%.
Do all banks have savings accounts?
A Savings Bank Account is the basic type of bank account where customers can park or save their surplus cash. The money in the account is extremely liquid and can be withdrawn by the customer anytime they want. As a result, the interest rate provided by the banks on such accounts is also very less. In india the savings account interest rate is 4%. Banks may also give you cheque books and ATM/Debit cards to operate your bank account. Yes - almost all banks have savings accounts.
How can one find the savings account rate online for free in the US?
Different banks offer different rates for savings accounts, though they are generally less than one percent. The website Money Rates has a convenient search function which can compare savings account rates from multiple banks. It is free to use.
What are the interest rates for a savings account at Wachovia?
Less than 1% on savings accounts at all bank branches, nationwide (unless you open a very large account!). Wachovia, by the way, is a subsidiary of Wells Fargo now, and is being progressively merged in to Wells Fargo.
What are the disadvantages of personal savings?
A main disadvantage of personal savings is, in the case of notice accounts for example (Notice Accounts), that your money is often tied up for a specific period of time and cannot be accessed without incurring large penalties. Additionally, if your account does not have a fixed interest rate, the interest rate you are offered can diminish over time, thus lowering the investment return on your savings. Similarly, if you have a fixed interest rate and the basic interest rates rise, you could be earning less on your savings than if you had a variable interest rate.
