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What are the typical minimum deposit requirements for high interest savings accounts?
Wiki User
∙ 14y ago
I have found to get more than 1.5 % return on savings, you need a minimum of $10,000 to be invested.
Wiki User
∙ 14y ago
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What is The Minimum Opening Deposit For Business Accounts?
You are able to open the majority of business accounts having a minimum opening deposit of just about $50.
Do most high interest saving accounts require a minimum balance?
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.
What online savings accounts offer the best rates?
Some of the best online savings accounts with the highest APY rate are Ally Bank, they offer 1% with no minimum deposit required to open your account. Next is American Express, they also require no minimum deposit, have no fees, and grant 1% APY.
What will be the initial deposit for bdo joint bank account?
The initial deposit for BDO Joint Bank Account is 2000 Philippine Pesos. The minimum account balance to earn interest is 5000 Philippine Pesos.
How do you transfer mod balance to available balance?
It is not money on deposit. It is "Multi Option Deposit" which means: you can decide upon the money going to Fixed Deposit for the minimum amount you set for your account. For instance: You have 50000 in your account. In normal scenario, you will be getting interest on the above amount as per saving bank interest rate. But in case you have MOD account, you can decide that what ever amount is surplus of 10000, it goes into MOD balance and for those amount, you get a interest rate as you get incase of Fixed deposit.
What are MoneyMarket accounts used for?
MoneyMarket accounts, is like a savings account. It is most similar to a brokerage in that you deposit money in it, the high interest with high minimum requirements. To answer your question, the purpose of it is to make money.
What is The Minimum Opening Deposit For Business Accounts?
You are able to open the majority of business accounts having a minimum opening deposit of just about $50.
Are Chase Checking accounts free to open?
Chase Banks offer two types of checking accounts. They offer a free checking account with no minimum balance with direct deposit and an interest checking account with a $5000 minimum balance and direct deposit.
What are high interest savings?
They're accounts that yield higher rate than a regular savings account. There are some minimum requirements to open a high interest savings account, such as maintaining a balance and depositing a minimum amount to open the account.
Do most high interest saving accounts require a minimum balance?
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.
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.
How much the minimum deposit to open the accounts?
I think you will find that the minimum deposit needed varies between the different banks and the country you live in. Maybe someone else can verify this.
What are money market accounts?
Money market account is an account that deal with financial matters in the money markets. Money market account usually requires a higher minimum balance or higher rate of interest in order for one to earn interest on the deposit money.
What is the purpose of a money market certificate?
Most people confuse a money market account with certificates of deposit. Money markets are deposit accounts set up like a savings or checking account. However, a minimum balance, and/or limited transactions are commonplace. Interest earned is based on average deposit balance. Therefore, money market certificates are great for large accounts with limited needs for withdrawals.
Why a minimum balance clause is applied in savings bank accounts?
For providing banking services to a customer, banks involve some expenditure like cost of manpower, cost of computers etc. To claim that cost, they can either charge that fee to the customer or expect him to maintain a minimum deposit. Using that deposit they can grant loans and adjust the charges. Hence they expect a minimum deposit in savings bank accounts.
What online savings accounts offer the best rates?
Some of the best online savings accounts with the highest APY rate are Ally Bank, they offer 1% with no minimum deposit required to open your account. Next is American Express, they also require no minimum deposit, have no fees, and grant 1% APY.
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.
