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What are the best savings accounts that offer a high interest yield over the long term?
If you visit bankrate.com, you will find which bank account has the highest rate on a given day. Frequently, online banks (Ally Bank, ING Orange and the like) offer good rates on savings. That being said, your best bet for long term savings is frequently a Certificate of Deposit (CD) account. Of course, this assumes that a bank account is your preferred means of savings--other investments (stocks, bonds, real estate) offer much higher yields over the long term in exchange for additional risk. There are several good savings accoutn at many banks. The best rates can be had with a virtual savings account and a high deposit like www.Ally.com .
Types of bank deposit?
1. Savings account - These are the simplest of deposits. You deposit money into your account and you can withdraw it anytime. There would be a small limitation on the number of times you can withdraw money from your account. The money in SB accounts earn an interest of around 3.5% per year 2. Current account - These are similar to Savings accounts with two small differences. One is, the money in a current account does not earn interest and two is, you can withdraw any number of times. This account is for business people who would have high number of transactions in one single day. 3. Fixed Deposit - This is a deposit product where you deposit a certain sum of money with the bank for a specific duration of time. As per the deposit agreement you are expected to let the money be with the bank based on the deposit tenure. Hence the interest offered on such deposits is higher than normal deposits. Also you will attract a penalty charge for pre-closing such deposits 4. Recurring Deposits - These are similar to fixed deposits with a differenc e being, you deposit a small amount of money every month into this account for a specified duration of time and the bank would compound the interest every month and pay you in lump at the end of the tenure.
How do you earn money for a savings account?
You can earn money by receiving a payroll check, birthday/ graduation money. Any way you may receive money. You then put money in your savings account to accumulate interest to use on a rainey day
What is the current interest rate offered at ING direct for a savings account?
All savings accounts in India offer an average of 3 to 3.5% interest per annum calculated on a daily end of day account balance basis. The interest is calculated based on the every day balance in the account and would be credited on a quarterly or half yearly basis.
How muchpound can you draw from a bank in a day?
You can usually withdraw any amount up to the balance in your account. You can do this by just visiting your bank branch and submitting a withdrawal request. The bank has an obligation to give you as much money as you hold in your account. But, if you are using an ATM, there are daily withdrawal and cash dispensing limits and hence the amount you can get might be limited to your bank balance or the daily withdrawal limit.
Difference between current account and savings bank acount?
A savings account is one in which you can deposit your money, but there is a limitation on the number of transactions (Both credit and debit) that you can perform on your account. You will receive a nominal interest rate of around 4% per year on the minimum monthly balance you maintain in your account. A current account is similar to your savings account with a small difference. You can have unlimited number of transactions on your account. Also you do not receive any interest on your deposit money. Savings accounts is for normal citizens and Current accounts are for businesses and organizations.
Difference between savings current and fixed deposit account?
A current account is one in which businesses keep some money and use it for their day to day transactions. The money in this account does not earn any interest and is available for usage to the customer at all times. Savings Account: A savings account is one in which customers save their monthly savings and they are not like the current account. Though the money is available at any time for the customer to withdraw, money is not as frequently deposited/withdrawn from it like the current account. Hence banks offer a meager interest rate for the money held in this account. Fixed Deposit: A FD Account is one in which the customer deposits a big sum of money (Usually a few thousands and upwards. There is actually no limit to the amount of money you can deposit in a FD) for a fixed duration of time (Atleast 3 months or higher). Since you agree to keep the money deposited with the bank for a fixed/agreed upon duration, the bank gives you a very good interest as payment for keeping the deposit
When do you have access to your own savings account?
The day you die.
What is saving accounts?
Kindly refer to the attached below.
What are the best savings accounts that offer a high interest yield over the long term?
If you visit bankrate.com, you will find which bank account has the highest rate on a given day. Frequently, online banks (Ally Bank, ING Orange and the like) offer good rates on savings. That being said, your best bet for long term savings is frequently a Certificate of Deposit (CD) account. Of course, this assumes that a bank account is your preferred means of savings--other investments (stocks, bonds, real estate) offer much higher yields over the long term in exchange for additional risk. There are several good savings accoutn at many banks. The best rates can be had with a virtual savings account and a high deposit like www.Ally.com .
What is PD account?
It is an account where we have to deposit Rs.200 for 1 yr to get first day cover
What is current accounts savings account?
A current account is one in which you keep a certain amount of money and use it for your regular day to day transactions. For ex: to pay your phone bill, to pay for your groceries etc. Banks usually do not give you a significant interest on your deposit in this account because of the liquid nature of the account and because you can withdraw your funds anytime you want. A savings account is one in which customers save their monthly savings and they are not like the current account. Though the money is available at any time for the customer to withdraw, money is not as frequently deposited/withdrawn from it like the current account. Hence banks offer a meager interest rate for the money held in this account.
Alyson opened a savings account with a deposit of 600 she withdrew 15 each day for the next five days and then deposited her entire paycheck from work bringing her balance to 750 how much was paycheck?
The paycheck was $225
What is the difference between a chequing and a savings account?
A checking account is one in which you keep a certain amount of money and use it for your regular day to day transactions. For ex: to pay your phone bill, to pay for your groceries etc. Banks usually do not give you a significant interest on your deposit in this account because of the liquid nature of the account and because you can withdraw your funds anytime you want. A savings account is one in which customers save their monthly savings and they are not like the current account. Though the money is available at any time for the customer to withdraw, money is not as frequently deposited/withdrawn from it like the current account. Hence banks offer a meager interest rate for the money held in this account.
How do you make regular bank deposits look like direct deposit?
NOTE: Your employer or authorize agency must have an agreement with the bank in order to do direct deposit. Your employer and/or an authorize agency can make a direct deposit into your account. You have to go to your employer or authorize agency that pays u money and give them a voided check and give them permission to direct deposit you salary/income into the your account. Every time you personally make a deposit into your account, it is directly deposited into the account. However, most banks will make you wait until the next day to actually make a cash withdrawal. You cannot make a regular deposit look like a direct deposit because direct deposit usually come from an employer that electronically transmits your salary info only to the banks that they have an agreement with.
Alyson opened a savings account with a deposit of 600 She withdrew 15 each day for the next 5 days and then deposited her entire paycheck from Barney's Bagels bringing her balance to 750 How much w?
56.25
How long does it take for a check to deposit into a Wells Fargo account?
When one makes a deposit into a Wells Fargo account before the cut-off time on the current business day, the amount will be credited to the account on that same business day. If it was deposited after the cut-off, or on a non-business day, the amount will not be credited to the account until the next business day.
