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Where is the best place to have a mutual savings account?
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.
Can you get a payday loan with a savings account?
No! You must have a credit account!
Who bought First Federal Savings and Loan Association of Philadelphia?
I have a savings certificate account number-027506, would like to know if it is still active?
Reduce Your Mortgage with a Mortgage Savings Account?
A mortgage savings account is a financial instrument that can help people pay off their mortgage loans at a faster rate than they would ordinarily be able to do so.The Mortgage Savings Account Is a LoanThe mortgage savings account is a loan that people take less time to pay, because it has a savings account associated with it. The loan has a variable interest rate and is something like the home equity line of credit, because this loan is secured by the house. The difference is that the savings account is also something like a personal bank account for the homeowners.An ExampleWhen people purchase their houses, they will obtain a mortgage loan for the amount of the house which could be $400,000. At the same time, the new homeowners will open a mortgage savings account in which they will deposit a sum of money. For this example, the amount could be $50,000. Because this is a mortgage savings account, the amount deposited has decreased the amount owed on the loan to $350,000. The interest rate that the mortgage accrues will be less, because the homeowners have reduced the amount that they owe.Making Deposits Further Decreases the PrincipleAs people deposit their paychecks into their mortgage savings accounts, they are continuously decreasing the principle on the loan. As they do this, their interest payments are also decreasing because as the principle decreases, so does the amount of the interest owed.The money that is being paid toward decreasing the principle is not lost to the homeowners. With a regular mortgage, the homeowners pay their lending institutions and they no longer have access to this money. In contrast, money that is paid into the mortgage savings account can be withdrawn from this account either by writing checks or by making withdrawals from the local ATM. But homeowners must remember that this product is a loan.The mortgage savings account would be a good option for homeowners who would not be tempted to spend too much money from this account. It is also good for those who are certain they will continue to receive their paychecks. With those too conditions met, homeowners may be able to benefit from the mortgage savings account.
Is saving account a bank account?
If you have a savings account at a bank, then it is a bank account. If you have it in another kind of institution, such as a Credit Union or Savings and Loan, then it is not a bank account, although some people use the term "bank account" loosely and apply it to any savings account anywhere.
What does it mean to cosign on a savings account?
It's like cosigning a loan. It puts you at partial responsibility for the account.
What is a brief description of what a savings account payday loan is?
There are many different varieties of ways that one can describe what a savings account payday loan is. The best way one can describe it is as cash advance that contains very high interest.
Is there a loan company that will do payday loans with a savings NOT checking account?
Highly unlikely. The check you offer them is a legal promise to pay. With a savings account, you have no means of making such a promise.
How do you use savings and loan association in a sentence?
I've already applied with several savings and loan associations. These three are the latest savings and loan associations to establish businesses in our town this year.
Can you get a loan without a banking account?
Banks and savings and loans may pre-approve you, but you will need to open an account with them if you choose to take the loan. If you have a problem opening an account, you will need to get that cleared first.
Can you borrow against personal savings account?
Yes. You can always "borrow" against your own funds. You can apply for a loan or just withdraw the amount you need from your personal savings account.
Is it possible to get a loan on a students savings account?
Yes, most banks allow personal as well as auto loans on student savings account. You should check with your bank for more details on this.
