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I don't believe that there is a maximum limit. However, in the United States, there is a maximum amount that is insured by the FDIC, to pay you back in case the bank fails. The limit is often revised, but is currently (a of March 8, 2014) $250,000 per account owner.
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How much should you have in a savings account?
It does not really matter how much money you put in a savings account. The more you put, the more interest adds to the amount. You can add money to the account at any time.
How can you make money using a savings account?
You cannot make much money out of a Savings account. The purpose of this account is to save some money for our future. It does not earn much because of the high liquidity banks have to provide to the account holders. The returns in a savings account would be between 3-4% per year.
One advantage of a savings account?
you wont spend as much money
Can you save money with a high interest savings account?
Yes, a high interest account is a very desirable savings account because you will gain a decent amount of interest on your money. You will gain much more money if you get compound interest by saving more money into the account monthly.
Can you withdraw the money from your credit card account?
This gets a bit trickier. With many secured credit cards the answer is "No", if you want the money from the savings account back you need to let all of your charges on the secured credit card clear, close the card and than close the savings account and get your money back. Often you maintain the ability to withdraw some money and reduce your credit line, but do not count on that option from all secured cards. In no case would you be allowed to withdraw so much money that your savings account dropped below the minimum set by the bank to establish such an account.
How do I find the best savings account if I don't have much money?
You can find the best savings account if you don't have much money at www.best-savingsaccount.com. Another good site is www.moneysavingexpert.com/savings/
How much should you have in a savings account?
It does not really matter how much money you put in a savings account. The more you put, the more interest adds to the amount. You can add money to the account at any time.
How can you make money using a savings account?
You cannot make much money out of a Savings account. The purpose of this account is to save some money for our future. It does not earn much because of the high liquidity banks have to provide to the account holders. The returns in a savings account would be between 3-4% per year.
How much money does the average person have in their savings account?
$1200.00
You have $200 in a savings account. Each week for 8 weeks, you take out $18 for spending money. How much money is in your account at the end of 8 weeks?
You have $200 in a savings account. Each week for 8 weeks, you take out $18 for spending money. How much money is in your account at the end of 8 weeks?
Why is a passbook useful for an individual with a savings account?
A passbook is useful for an individual with a savings account because it allows that individual to keep track of how much money he or she has in that account.
One advantage of a savings account?
you wont spend as much money
What is current account in bank?
A current account is an account used predominantly by businessmen. There usually a higher number of transactions that are allowed in a current account when compared to savings account and it also earns much lesser interest than a savings account. Savings accounts are much more common in India than current accounts.
Can you save money with a high interest savings account?
Yes, a high interest account is a very desirable savings account because you will gain a decent amount of interest on your money. You will gain much more money if you get compound interest by saving more money into the account monthly.
Can you withdraw the money from your credit card account?
This gets a bit trickier. With many secured credit cards the answer is "No", if you want the money from the savings account back you need to let all of your charges on the secured credit card clear, close the card and than close the savings account and get your money back. Often you maintain the ability to withdraw some money and reduce your credit line, but do not count on that option from all secured cards. In no case would you be allowed to withdraw so much money that your savings account dropped below the minimum set by the bank to establish such an account.
Two fifths of Eileen's money is in a savings account if Eileen has 1015 how much is in her savings account?
1015 / 5 = 203 x 2 = 406
How much money required to open a savings account in indusind bank?
100000
