High Yield Savings Accounts |
Have you checked the yield on your savings account lately? If
you have a regular savings account with the local bank you are probably
getting less than 1/2% interest on your money. Worse than that,
they may be charging you a monthly fee if you don't meet their minimum
balance requirements. If you have a regular savings account with
a credit union you are still probably getting less than 1% interest
on your money. If you think 1% interest is the best you can do
on a savings account, think again. The highest yielding savings
accounts pay over 4.5%. Some of these banks allow you to open
savings account with a little as a one
dollar deposit. Most of these banks also do not require a minimum
balance to avoid fees. Where can you find that kind of deal, at
an Internet bank. Internet banks don't have a branch on every
corner, which reduces their operating costs. Since Internet banks
have lower costs, they can afford to pay higher yields on their savings
accounts. If you are tired of getting less than 1% interest on
your money, consider an Internet bank with a high yield savings account.
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