You can generally open an account with an initial deposit of $100. There are other circumstances that the bank can consider, however. A customer service representative would be happy to give you details.
The minimum amount of money to open a savings account at an HSBC bank is very low. From the information listed at their website, the minimum for a basic savings acount is ten dollars.
15 %
True - If you keep depositing your monthly savings regularly into your savings account. False - If you don't deposit any money into your account. Money in your savings account does not increase automatically. Banks will credit a small interest amount every quarter/year into your account but that wouldn't increase your balance significantly unless you deposit funds into your account.
Interest
Interest
There are many banks that offer a high yield savings account. The best bank that offer the best high yield savings account is Charles Schwab investment bank. They have what is called the high yield investor savings account, where there are account minimums and no monthly fees.
You can get an Abbey savings account through banks such as Santander. You can also compare the savings you would receive from using an Abbey savings account online at websites such as Monevator.
Typically - you will not be able to find the "best" savings account, due to the fact that savings account do not generate a lot of income regardless. Your best bet would be to use the savings account with your bank, or try out a Certificate of Deposit.
There are many banks that offer a higher interest rate savings account. Some of the highest rates can be found at EverBank, Ally Bank, Capital One, Barclays, and CIT Bank.
In India, I think Kotak Bank and Yes Bank offer the highest rate of interest on Savings account. They offer 6% interest. Almost all other banks offer the minimum stipulated amount of 4% per annum. Mostly private sector banks offer higher interests and perks for savings account holders when compared to government banks in order to attract customers.
To open a regular interest savings account one needs some proof of identity and small amount of money to deposit, usually as little as $1 to $25. Nearly all major banks offer savings accounts.
A mutual savings and loan is the best place to have a savings account. There are plenty of good and reputable savings and loan banks out there. You can just look for them.
Yes, you can open a savings account if a bank allows you to. Usually banks are not as strict with savings accounts as they are with checking accounts.