There are also exciting deals with savings account but if you plan to put your money in this type of account, you must stay updated with current bank deals and I mean, from each and every banks that interests you.
In order for you to get the best deal in town, you must do a lot of research and foot work. You must be able to read fine prints and read through bank officer’s engaging smile.
You need to know that every once in a while, these banks offer higher interest rates for promotional purposes and this is done in a very limited time.
Staying alert with latest buzz in the market will certainly alarm you to moving your savings account to highest interest-yielding bank. I must say, this kind of account is for those who like challenges and with abundant funds to start with.
If you want your money to grow in savings account, you must hunt for the bank who offers the highest interest rate. Usually, it gets up to 3.5%-5% annual percent yield and virtually no rules in terms of deposits and withdrawals.
You will have to start with bigger amount though, and the minimum is higher too. The higher your money’s worth in the account, the bigger the interest would be.
So, if you are planning to stock your money pile in the bank but you are not yet ready to lock it up for a long time, like you do with bonds, then high interest rate savings account is for you.
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