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Do most high interest saving accounts require a minimum balance?
Wiki User
∙ 11y ago
Yes, most high interest savings accounts require a minimum balance. Since it is high interest, it is usually a high minimum account balance as well.
Wiki User
∙ 11y ago
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Where can you find a high interest savings account?
A few places that offer high interest savings accounts are American Express, Ally Bank, Regions Bank, Citi Bank, Discover Bank, and Trust Bank. Most require a minimum balance to be eligible.
How much is the initial deposit of a savings account?
It depends on the bank and the types of facilities offered by your banker. Government banks in India require a minimum balance of Rs. 500 for normal accounts and Rs. 1000/- for accounts with cheque book and ATM card. Private banks require a minimum quarterly average balance of Rs. 2500 or above
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.
Do all savings accounts have monthly fees?
Not all saving accounts have monthly fees. Checking accounts usually do however and also require a minimum amount in the account, TD Bank for example requires a minimum of 100 dollars after age 24 but free saving accounts and free for users under age 18 or 21.
What can you do at an account money market?
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.
What is a type of checking account that also earns interest these accounts generally have a minimum balance?
A type of checking account that also earns interest is called an interest-bearing checking account. These accounts typically require a minimum balance to be maintained in order to earn interest.
Why do checking accounts have interest rates?
Certain checking accounts have interest rates because they require that the customer keep a minimum balance in the account each month. This money is used by the bank to make more money.
Do business bank accounts require a minimum amount of money to be kept in an account monthly?
Most banks do not require a minimum balance to be kept in a business account. If you are looking at obtaining one, you will want to check with your local bank if they require a minimum balance.
How are dividends given in a bank account everyday or monthly?
Bank accounts differ widely. Some banks require a minimum daily balance before they give interest (meaning the balance cannot fall below that minimum on any day of the month).Generally speaking, for accounts that do accrue interest, it accrues (adds up) each day, but it is only posted and given to your account ONCE a month.
Where can you find a high interest savings account?
A few places that offer high interest savings accounts are American Express, Ally Bank, Regions Bank, Citi Bank, Discover Bank, and Trust Bank. Most require a minimum balance to be eligible.
How much is the initial deposit of a savings account?
It depends on the bank and the types of facilities offered by your banker. Government banks in India require a minimum balance of Rs. 500 for normal accounts and Rs. 1000/- for accounts with cheque book and ATM card. Private banks require a minimum quarterly average balance of Rs. 2500 or above
What type of checking account usually requires the highest balance to be kept on deposit?
A high-yield checking account typically requires the highest balance to be kept on deposit. These types of accounts often offer higher interest rates than regular checking accounts, but in exchange, they require a minimum balance to be maintained in order to earn the high interest rate.
How much money do you need to start a checkings account?
== == Most of the major banks require a minimum balance to keep open. While some smaller banks and credit unions let this rule slide to keep customers, Financial collapse of September 2008 has forced most banks to moving back to a minimum balance rule. The amount of the minimum balance often varies depending on the bank and the type of account. Savings accounts? Many savings accounts do require minimum balances. Typically as long as you keep the minimum balance in your account, they will not charge you a fee. Many banks offer accounts with no minimum balance or a very low minimum balance.
What type of savings accounts are best for college kids?
The best saving account would be one that the bank does not charge you any fees and has a low minimum balance require. You will want to look for bank in your area and pick the one that has the best interest rates on saving accounts. Most of the time a credit union will have better saving account rates then big banks.
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.
What types of bank accounts are presently available on the money market?
There are several types of bank accounts available on the money market, including savings accounts, checking accounts, money market accounts (MMA), and certificates of deposit (CDs). Savings accounts offer a higher interest rate than regular checking accounts and are typically used for long-term savings goals. MMAs offer a higher interest rate than traditional savings accounts but may require a higher minimum deposit. CDs are time deposits that lock in the invested funds for a set period with a fixed interest rate.
Do all savings accounts have monthly fees?
Not all saving accounts have monthly fees. Checking accounts usually do however and also require a minimum amount in the account, TD Bank for example requires a minimum of 100 dollars after age 24 but free saving accounts and free for users under age 18 or 21.
