ING Direct is an online-only bank. The Orange Savings Account is the one to note for the investors as the APY is considered to be one of the most appealing with regard to the current financial market. The rates are constantly changing and the bank’s website happens to the best available resource to obtain information details. The mode of operation of ING Direct is pretty simple as one is not required to pay any service charge or face stringent balance requirements. An account can be opened with just $1! The investor’s existing checking account with another bank can be linked with the ING Direct account and move his money back and forth in both the accounts. This is done by requesting a transfer after logging in.
The ING Direct Electric Orange Checking account pays handsome interest for savings deposits. Then, I the consumer is interested in business savings, there is an option of the ING Direct Orange for Business. Apart from these no-frills savings accounts, there are several other equally likable investment options available with the ING. There are these CDs with highly competitive rates ranging for a period of 1-5 years along with mortgage or home equity loans for people in need. Say, the moment you get to earn a high interest amount, you can straight away zap it into a CD and get ready for some supplementary benefits as well.
Written by srini on September 24th, 2009 with no comments.
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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.
Written by srini on September 18th, 2009 with no comments.
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Univest Bank is not popularly considered as a front-liner online bank. But, the investor can well be surprised to discover a wide array of personal and business banking options. The high yield account services require a special mention. The savings account of Univest Bank is termed ‘Univest Anytime Online Savings’. The APY offered is 1.5%. Now, it can be readily agreed that with regard to an online savings account, this is fairly attractive offer. An investor can open an online savings account wit as little as a single dollar! There are no minimum deposit amount mentioned and there is no monthly service fees charged either. But, sadly, there are no IRA options.
The ATM card offered at Univest is also free and one can use it at the counters of the other bank’s ATM counters as well, free of charge. Through this online savings account, you can go for free fund transfers and phone banking, to name a few of the opportunities. The usual savings customers can convert to online savings account without having to pay any charge. There is another interesting aspect with regard to this bank. The investor is set to receive Rewards Checking services that enable him to acquire interest yields that are dependent upon the amount deposited. Further, being insured under the FDIC, the bank offers good security and returns for your deposits.
Written by srini on September 6th, 2009 with no comments.
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It has been recently observed that a lot of online investing companies are making a foray into banking. Today, management of finances through online banking and investing the savings through it are considered to be very convenient. In this regard, E-Trade has emerged as one of the most sought after investing websites in the internet. Under the investment category, they offer amazing savings features too. A user of E-Trade investing is presented with an E-Trade bank account that offers fair amounts of interest on the money that otherwise remains idle, while you consider various investment options. You can choose through savings, checking and CD investments.
Online savings is made very simple through E-Trade’s online savings account. There are no stringent clauses for the investor to follow. There are no deposits and no fees attached. The APY is also pretty good – it is 1.95%. You can transfer your deposits from any other account to E-Trade, and the transaction is kept free. The CD rates at E-Trade is 1.4% APY for a five-year term while, it is 0.60% for a three-month term. This is quite unlike the rates of the savings account. Then, if the investor has a balance amounting to an excess of $,5000 he stands to earn a checking account interest rate up to 0.75%. There are a diverse set of other attractive options for investors interested in online checking.
Written by srini on September 5th, 2009 with no comments.
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We save in order to build wealth and our objective is to stay prepared for the future financial alterations. Here are a few uncommon factors that save your investment and help your wealth to grow.
Through Compound Interest, you get to earn interest on the interest that is already present in your account. This is a very simple option which is oft ignored. So, a savings plan can be a very effective method to make your money grow.
Use the Rule of 72. An amount deposited in an account gets doubled within a specified amount of time. This occurs through compounding. The Rule 72 helps us to ascertain the time period. This can be obtained by dividing the interest rate payable by the account in which your money is deposited by 72.
The risk and return factor. There are different methodologies to build wealth. Those that involve more risk are found to offer greater returns. Wealth is usually built through a savings account and through investment in stocks. There is no chance in the loss of money in the savings account but in stocks, there are many causes that can result in the loss of money. And, the interesting part is that, you get an opportunity to earn around 10-15% interest while in a savings plan the interest rate is just 1.5%. You can also diversify your investments, to obtain the maximum benefits.
Written by srini on August 21st, 2009 with no comments.
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