What is a savings account
A savings account is a savings account that you create through a bank or credit union and you can deposit money and earn some interest. Now the interest rate on your money is a very low rate maybe 0.1 point zero it is usually a very low return rate but your money is guaranteed and in a safe place. So let’s say you have saved a thousand dollars and you keep it under your mattress. Be good to yourself, because if you find it you will lose a thousand rupees and if you have a thousand dollars in a bank the bank will be robbed and that thousand dollars will still be in your account so the federal government guarantees up to two hundred of that money. That’s the savings account because it’s fifty thousand dollars.
The 5 MOST PROFITABLE Savings Accounts
The most lucrative savings accounts you can get and I have received incessant messages in the last few months since then and that information should be thankful that outdated interest rates have gone up. Some banks are also in better shape and they should be on the list and I thought you were right you should update all this information again and make a new video. This is really good news as the central bank raised interest rates in January. What we have seen in the last few months is that savings accounts can now pay a little more, all of these savings accounts collide with each other and basically mean trying to get your business that you have just paid a little more And this is good news for us too.
Because the central bank has reduced interest rates now but they do not follow and do not reduce the interest rates paid on savings accounts and I have a feeling they are willing to risk it because they know that if they lower the interest rate they will go and take your money to another bank So let’s go for the best five top interest rates to do nothing but rate the savings accounts you have left today to make a little extra money, because everyone knows that I like to make money without doing anything and I set it up because there are a lot of random banks on this list There are very strict criteria that we should follow number one. It should be a well known bank. Banks we have never heard of are not just available to the people of Wyoming. It opened last night and managed to connect with Schmidt. Must be a really well established bank. Secondly they need to be verified unlike my Instagram account. I tried it but it doesn’t authenticate. Beware of this because people are now starting fake accounts. meone I do not want to send you a weird message or add you as a friend and then pay with bitcoin or cryptocurrency. I do not do that, so if anyone asks you to pay Bitcoin I do not mean that these fraudulent artists will not be able to cheat when I ever verify my account on Instagram but we need firm evidence that we will pay the interest rate anyway.
Interest Given such a rate for a few months then they will lower it to a lower level. To this end, I looked at the reviews of companies to determine their history of interest rates and to increase fees to ensure that what they say is true. Now thirdly it should be available to anyone in the US. PNC Bank, which I did not mention, offered an interest rate of three to five per cent for two reasons, and many were quick to correct me, saying that there was no physical PNC branch that could get that rate, and as we all know on the internet, you are wrong at any time to correct or People are quick to point out information by mistake or not to mention anything. So I guarantee everything from this video I mentioned is available to anyone in the US and fourthly the most important thing we all learned with Robin Hood is that it should be FDIC insured and this is a very big one so the last thing we need is a small company or Going to a small bank. After you go bankrupt you will realize that they do not have FDIC insurance and then you will lose all your money and then if you have a bad time I do not want anyone to have such a bad time so safe.
All FDICs are insured and the last number 5 is just a similar button break. When it came to me I had been using a fake bank for many years and it had become my online banking bank and now I use it to activate all my rent because the proceeds from this allow me to get unlimited check accounts and checks and debit cards for free There is no minimum fee. The best of all is that they offer a 2% interest rate on their savings account and their FDIC is insured so you can actually do everything online even if they don’t have any kind of physical bank and the app .like real physical money. Go to American Bank that I have an account because there are branches everywhere. I have to say, however, that one of my criticisms with Ally is that this is a recent drop in their interest rates. The group is no longer as competitive as they were two and a half years ago.
When I started banking with Ali their interest rate p good and good other banks at that time have now turned for the better, I stay with Ally because I have been with them for so long. I trust them, I trust them. A little more money until recently I found another bank, I can tell you that I actually carry some money. Let me tell you that it is in this video. Many people who pay a little more than a lie have commented that the bank that is really happy right now is Goldman Sachs giving Marcus 2.25.Percentage interest rate and with it they have no monthly fees, at least no hidden fees, no crazy stupid fees. In fact, they have up to $ 250,000 in FDIC insurance. However even if they pay a bit more to their savings account it does not seem that you can insert mobile account checks directly into that account which is definitely a big inconvenience and I do not like ACH transfers.
I do not like wire switching. Just like in 2009 it should have a mobile app for everyone bank account in 2009 and in 2019 you should be able to get mobile deposit checks. This is not 1999. If not here’s a new product just for you! If Goldman Sachs does not like Marcus, if they raised it a bit and gained some sort of understanding over time, you may know that I would give my full recommendation on that but overall it seems like a hassle to consider If the third bank is now moving to third place, we will say that if we take it even higher and raise the heat we will have another good one and it will be CIT Bank which is now offering 2.4.This is the percentage interest rate that should not be confused with Citibank. This means that one of the two things you need to do to get an interest rate of 2.4 percent is to first have an average balance of $ 25,000 in your account or deposit. You can make at least $ 100 a month, but assuming you can do one of them or deposit $ 100 a month, there are no maintenance fees, they have no FDIC insured hidden fees. It’s available to anyone in the US and the best part is that unlike Goldman Sachs’ Marcus they have a mobile app where you can deposit checks but overall I would be really happy with this bank and the only reason I haven’t switched yet is with Ally Because it is not worth getting a modern bank like 0.2% after such a long time .The annual pre-tax is extra interest and it doesn’t bother me now.
But as I said we are slowly getting better and some of these offers are unbelievable. Now fourthly speaking in an unbelievable way this is believable and it’s true but I did not believe it at first, I thought it was a joke until I found out and many people commented on this so they looked into it. I wait a second. This is really good. Yes No I’m not kidding Redneck Bank, do not ask me how that real name came to me from them it makes no sense to me but it’s a very realistic fly on their website. You can have fun by turning it into.
Now Redneck Bank offers a two and a half percent interest rate on their savings account and even better they give three percent Interest rate on their checks Now the account is unbelievable, this is how your check account works You will get three percent interest up to the first ten thousand dollars , Then they will give you an interest rate of two and a half percent on their savings account. Up to $ 50,000 and honestly if it weren’t for the $ 10,000 fifty limit I would take my money here with a heartbeat, how many people have enjoyed reading their reviews online and they seem to be a good bank everywhere and I honestly wonder about this And if you are looking for a high interest savings account I recommend you do some more research to find out about this.
Comfortable with it but otherwise this seems like a really good option. But I think I can get another one and it’s going to be a gold medal and this is actually a lie I’m sorry to transfer some money to this account by myself by opening an account I know I have been together for many years but you want the interest I need Not because this bank pays me interest and they offer wealth With FDIC insurance the 1% interest on their cash account goes up to $ 1,000,000, but let’s take a quick break here now. I’m sure this is important because I ‘m sure you think of yourself. The limit is $ 250,000 per bank. What seems to be happening here seems a bit subtle. It’s honestly a very good question, and when I saw how this could be, I did some good old-fashioned research and this is my presentation. It is said to be limited to two hundred and fifty thousand dollars per customer account. Covering up to your million dollars in deposits is basically what they do when you have an account with a rich front but in the back corner they take that money and divide it between them b I see you cover up to four times as much as you cover in one account among the affiliates, It seems to me that this can be mapped out a bit on a sketch scale if there is such a thing as a super 10 sketch and one not being short. This can often be equated to three outlines and the only reason I say this is because of my assumptions here.
I like some FDIC authentication. They actually qualify for up to a million dollars. Because you keep your money in one account, even if your money is technically spread across other accounts, I want them to verify it for themselves. We do not do this because they have this problem with Robin Hood and they wait for a second and I do not know why you are saying this, then we will not cover you then they had big problems with Robin Hood. So I think 250 would be a very safe model but know that going up to a million dollars is not a dollar, but it’s just me but at least there are no hidden fees with the money.1% interested and as I said I have done a lot of research on this and have read most of their reviews from people who have banked with them before and it seems very polite. So I opened an account with them and I took some money in front of the wealth, I was going to divide my money between the wealth and the alley so I could diversify there when something happened. My eggs are in one basket but the rich front is a better option than what I see and I will hit it off. The reason they offer such high interest rates is because they want people to enter the rich ecosystem and once they get there they hope they will use the investment platform.
In fact I think they will earn more of their money into this account. Be a leader who loses money to the company even if the company loses money ings account they can create in the back corner and it fits in well with me as long as I get my 2.5 1% interest rate and finally I want to mention one last respectful one that pays more than everyone else and I should mention this because everyone has commented on some of my previous videos or asked me to make a video about this but it is not It’s interesting to make your own dedicated video for this, so here’s a T-Mobile check account that pays 4% interest. But really stay tuned you won’t get an 4% interest rate without a catch. The capture is limited to the first $ 3,000 and you have to deposit $ 200 per month to get the 4% interest rate as I see it. It is not a problem to think that you can get 2.5 1%. Don’t worry about saving $ 200 a month to get that rate and invest more money in front of it. But what I really want to mention is that if you are sitting with $ 3,000 right now you want to get the highest interest rate because you’re good at depositing $ 200 a month before finishing the i video that can be done with a T-Mobile bank.
I want to say this for a while and this should be very clear. So no confusion when using these accounts should not be a substitute for investment and it is not about trying to make as much money as possible by getting a slightly higher interest rate, but let me explain with most of these savings accounts you do nothing If you do not earn a lot of money you calculate inflation at 2% per annum and if you sit in a bank account and earn two and a half percent you actually earn only half a year. Half a year, however, the key here is to keep the value of your money or grow it slightly until you have time to go elsewhere and reinvest.
For example, I keep my emergency fund in a high interest savings account. It makes a little money f and has no value and then if the money is sitting for emergencies or I save for another property and my money will sit there for six to twenty four months until I know. Find the right deal, of course I keep that money in a high interest savings account, so it is always ready to be used whenever the right deal comes in and it has no value. So this does not have to be a substitute for investing. That’s not to say that getting two and a half percent is a very good return, because it really is not just about retaining the value you have now. Maybe you can go and earn a little until you reinvest that money as a high yielding return.