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What else can I help you with?
As a beneficiary on a savings account can you deposit money in that account?
Generally yes but remember that you are putting the money into THEIR account and they can spend the money that you deposited for any reason and you have no recourse because it is THEIR money.
Is it wise to combine my checking and savings account, and why?
It wouldnt be wise to combine unless you are putting money from checking into your savings. A savings account is a little more protected and shouldn't be used as a checking.
What are 2 benefits of a savings account?
1) creating savings goals 2) putting money in without taking it out gives you interest!
When would it be a good idea to invest your money instead of putting it in a savings account?
It would be a good idea to invest your money instead of putting it in a savings account when you are looking for potentially higher returns over a longer period of time and are willing to take on some level of risk.
When is it beneficial to pay off debt vs putting money in a savings account?
How much you owe and what the interest rate is.
How are money market savings accounts different from regular savings accounts?
A money market savings account is a special kind of savings account. Money market account holders receive more money on their return. Money markets are secure.
Why open an savings account?
A savings account is a good place to keep money safe for future needs.
Can I borrow money from my health savings account?
No, you cannot borrow money from your health savings account.
How can a savings account help in money saving?
A savings account is a very good account to open up if an individual would like to start saving money. It allows extra saved money to be transferred from the checking account to the savings account.
My current account gives me interest on my savings and my Mom says that it's better off to open up a savings account Why?
If you want a higher rate of interest compared to what you get on your current account you will need to look for a savings account. If you are keeping a lot of money in your current account you may be missing out. Compare rates and see if there is an account that would suit you better.
Is it possible to transfer money from a normal savings account to an NRO account?
Yes, it is possible to transfer money from a normal savings account to an NRO account.
What is the meaning of online money market account?
An online money market account is basically putting your bank account online that is invested specifically for market. It would typically have higher interest rates for your savings that a typical bank account would.
