Tag Archives: Savings

Finance

Bob Jain: What Types Of Bank Accounts Are There?

Anyone who’s familiar with finance will tell you that bank accounts come in various sizes, not to mention different forms. The latter is especially true, seeing as how the accounts in question can be used for a number of reasons. Experts in the world of finance, like Bob Jain, will be able to tell you the same. For those who are looking to make the most out of their finances, here are a few types of accounts to make note of.

Savings – If you want to talk about long-term investments, you’re going to want to bring a savings account into the discussion as well. This is designed for needs in the future, ranging from a new car to retirement. What this means is that the funds built within said account should be built upon, as opposed to dipped into for smaller needs. Needless to say, the more that you build your account, the more effective it will prove to be.

Checking – No matter how important a saving account is, you’re not going to get far without a checking account. The latter is used on a regular basis, so that you can access your funds for day-to-day purposes. For example, if you have to pay for groceries during the weekend, the money used to cover them will probably come out of your checking around. This is just one instance that names such as Bobby Jain CS can tell you about.

CDs – Given how different these accounts are, you might not know what they’re all about. Certificates of deposit, for the uninitiated, are designed to help invest money over the course of time. What this means is that they can be used for numerous purposes, even for several years down the road if you’d like. CDs can be quite effective for financial reasons, which I’m sure that Jain Robert CS will be able to attest.

As you can see, bank accounts can come in numerous forms, with different purposes to boot. Even though you might not use all of these for your financial needs, it’s still good to have this information in the back of your mind. After all, the more that you know about finance, the better your choices will be in this sense. When you open the right accounts, you can save more money, which will offer you more comfort in the long run.

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Finance

Evaluating Top Savings Mistakes With Robert Jain Credit Suisse

When it comes to saving money, I’d like to think that many people understand what can be done on the matter. With this in mind, it’s important to note that not everyone is as smart when it comes to this and I do not think that anyone can argue with such a sentiment. As individuals start to approach their golden years, they want to make sure that they have enough saved for the future. As a result, Robert Jain Credit Suisse will be able to tell you about the top mistakes people can make in their savings.

To start off, a mistake that can be made with savings is not going about it soon enough. There are many people who will save their money later but what happens is that they do not have substantial savings to speak about; this can be a problem for those who are looking to retire earlier. One of the best ways to go about this is to start saving the moment you attain employment. As you can imagine, this is a particular endeavor that requires a tremendous amount of time.

Another mistake can be made is spending too much, especially when you do not have to. When you have more of a financial mindset, chances are that you are not going to spend money on some of the more luxurious items along the lines of TVs, new cars, and the like. This is exactly what you should strive for: do not spend more than what you need from week to week. A few splurges are fine but, in general, you do not want to go overboard as far as spending is concerned.

Making poor investments in the long term. If you are someone who is interested in putting money into a certain company, there is still a chance that your investment could wind up failing. As a result, if you’re truly looking to get involved in this, Robert Jain Credit Suisse will tell you that it is crucial to focus on the prior success that a company has seen, whether it is in regards to profits or what have you. This will allow you to feel more comfortable with any future investment you make, according to names such as Bobby Jain.

Hopefully you will be able to figure out what it is that entails the best saving efforts with these points in mind. There’s no denying the fact that mistakes can be made, as far as saving is concerned, and I believe that these talking points should make people more aware of this matter. It’s important to note that there are ways to avoid these mistakes. However, this is all dependent on the level of effort you put forth, in terms of both research and active efforts alike.

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Money

Money Market Savings Accounts

If you have been thinking of using money market savings accounts for a while now, it is important that you know what these accounts actually are and how they will benefit you. It is true that these are considered to be high interest savings accounts but at the same time there are certain points that might make you see them in a different light. Let us see here whether these accounts are something that you need to consider to build up your funds.

First of all, we need to see what these are. These are deposit savings accounts with a higher rate of interest than usual bank accounts. One of the most important advantages of having such an account is that the notice period for withdrawal is very short if it is present. Also, the money that is deposited in these accounts is protected by the regulations of the Federal Deposit Insurance Corporation, which means that even if the financial institution shuts down operations, the money deposited in it is not forfeited.

So, there are advantages and it might seem it quite worthwhile to have one of these money market savings accounts for your needs. The two main aspects of any savings account – high interest rates and low withdrawal periods – both apply to savings accounts, making them seem good options. But then, there should be some catch somewhere, right? The truth is that there are certain things you have to know.

1. One of the first things that you have to remember here is that there might be a maximum number of withdrawals that you can make from the account. There are options that will allow you to dip into the account as many times as you need to withdraw money, but then there are also accounts with a maximum limit on them. That could be a dampener for a running business if you are depending solely on this account for your transactions.

2. Though most of these accounts consider your deposit applicable for interest even if it is as low as $ 1, there are accounts that will need you to have some minimum balance in the account each month. This can again be a problem if you are strapped for cash, especially in the initial stages of a business, for example. The accounts that have a requirement of a minimum deposit per month will not give any interest for the month that the requirement is not met. So, even if there is a high rate of interest attached with the account, it might not work if there is this requirement to be met.

3. These options are also subject to fees like any normal savings accounts are. There are free accounts out there too, which do not impose any fees on the account apart from their normal account handling charges, but some accounts might charge more beyond a particular number of withdrawals or even penalize the accountholder for not maintaining the minimum balance.

But you must remember that these points do not apply to all. So what you really need to do is to read the fine print so that you clearly understand all the points that apply.

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Banking

Savings Rates with Online Banking

Current Trend in Savings Rates with Online Banking is not extremely attractive, but can offer the American investor a better option at this time than the certificates of deposits while still being a liquid account.

The safety of investing your money in the savings account is still the same with all deposits up to $ 250,000 being insured by the FDIC.

At this time the best online banks have to offer in terms of bank rates on savings account is 1.10% APY. This is currently being offered by 6 different financial institutions across America at this time. This includes the Discovery Bank, Chesapeake Bank, SmartPig, Sallie Mae, EBSB Direct and Seacoast Commerce Bank. What is different which each account is the minimum deposit required to obtain this APY. The associated minimum deposits required are $ 500, $ 1, $ 1, $ 1, $ 5,000 and $ 25,000 respectively.

All of these bank rates have been reduced frequently which follows the national trend of nearly every financial institution of lower their interest rates on all of their deposit accounts.

The next best bank rate is 1.05%. This is available at 3 different financial institutions across America at this time. This list includes Colorado Federal Savings Bank, Citizens National Bank and First Trade Union Bank. The minimum deposit required to obtain this APY is $ 25,000, $ 1 and $ 25,000 respectively.

The third best bank rate on a savings account from an online bank is 1.01% APY. This is obtainable from 2 financial institutions. They are iGobanking and Capital One Bank. The minimum deposits required to obtain these rates are $ 0 and $ 1,000.

There are other savings rates that are higher, but each one has restrictions like the APY of 2.01% from Bank2 has to be associated with a checking account from Bank2. The checking account will earn an APY of 4.01% on balances up to $ 15,000.

This is the current trend in Savings Rates with Online Banking for the month of August 2011. All rates are current as of August 22, 2011 but are subject to change without notice.

We strive to bring you the latest and most accurate data possible from the home sites of the financial institutions we name. Always remember, the bigger the risk, the larger the reward or loss. Invest with caution.

For additional resources involving financial help, please view PNC Online Banking, best bank savings rates,Bank Rates, Westpac Online Banking at http://onlinebanksblog.weebly.com

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Author publishes articles regularly concerning investment and finance matters. For you to learn a lot more regarding CD Rates Interest, Sovereign Bank Online, CD Rates, SunTrust CD Rates, Online Banks, Bank Rates,Westpac Online Banking, CD rates, PNC Online Banking, chase CD rates from Author pay a visit to – http://onlinebanksblog.weebly.com