The E-Loan Savings Account
E-Loan’s online savings account is worth taking a look. A visit to the E-Loan’s savings website can provide you will all the details in this regard. It is a no-frills offer, which is combined with a competitive rate. The Annual Percentage Yield is considered to be one of the best with respect to the online savings account. There are no fees charged on the balances of this bank. The investor is provided with an externally linked account through which he is able to get access to his money or deposited amount. Given below are a few vital aspects of the E-Loan savings account:
- The investor requires a minimum deposit of $5000 in order to open an account and after it gets opened the balance can become lower than that, if required.
- The investor is allowed a maximum of six withdrawals every calendar month.
- The deposit is offered FDIC coverage for any amount up to $100,000.
- There are no deposits that are allowed through mails.
- The interest that is earned can get compounded on a regular basis.
Apart from these advantages, the investor is required to be wary of certain factors that will secure his savings in the long run. The flexibility factor is quite limited out here. As the transfer of money from the accounts is limited, you might not be able to debit your insurance from your existing account.