Keep track of your savings accounts with my savings accounts » Interest Rate

Instant Access Savings Accounts

Admin JHS — Wed, 21 Dec 2011 15:24:03 +0000

Having savings is important, especially now when the economy is making many families suffer. The news that thousands are using their credit cards for their regular expenses just shows how difficult things can be. Now is the time to start getting a little interest rate on money in order to help you when things are tougher for you. It is always a good idea to have a little money to fall back on if you can. You have plenty of products out there that can help you save. You always have the potential of opening an ISA where you have a certain amount you can place in the account each year for a retirement plan. You also have other savings account products like instant access savings accounts. These accounts are different from some of the yearly products on the market.

There are savings accounts where you do not have access without penalties for a year or more. These savings accounts often provide you with a higher interest rate, but the downside is you do not have access to your money. With instant access savings accounts you are able to access your account right away. This type of account allows you to access any money you put into it if there is an emergency situation or other need.

Even though the interest can be lower on these savings accounts you are at least able to access the money should things not go as planned. Consider a situation where you have less than 2000 pounds to put into a savings account and you have also started putting 100 pounds in every month. Suddenly your car breaks down and you need to get it repaired. You live far enough out of the city that you have to drive to the metro station before you can take it into work every morning. You also only have one car and your spouse needs the car. Unfortunately the repairs will be 600 pounds, but you have that in savings. With an instant access savings account you are able to access the money you need without losing the interest you made in penalty fees for accessing the account.

If you had a long term account you would probably lose most of the interest you have managed to make in penalties for accessing the account. These are some of the things you have to consider when you go with instant access savings accounts as opposed to long term accounts. Keep in mind that you can access your savings account online, transfer money for a small fee, and conduct your online account balancing with instant access savings accounts.

There are plenty of benefits and advantages to the option of instant access savings accounts. The downside is the low interest rate. Depending on your situation this can be the best way for you to get the savings and interest you need, especially right now when you never know what the economy and government may do next.

Low Interest Rate Credit Cards: Start Saving Today

admin — Wed, 05 May 2010 00:03:50 +0000

If you carry an outstanding balance on your credit card, youre not alone. Nearly 70% of Americans keep a balance on one of their credit cards from month to month. And many of these cards have sky-high rates, which add up to hefty amounts in interest expense. By switching to a low interest rate credit card, you can save hundreds of dollars in interest. Starting with great introductory offers, low interest rate credit cards help you get back on track while enjoying the benefits of a credit card.

Introductory Offers

Credit companies continually offer customers incentives to sign up for their cards. This often includes an initial 0% interest rate. Many low interest rate credit cards carry this 0% APR feature. It allows you to begin saving even before the low interest rate kicks in.

The interest-free time is yours to take advantage of. You can make purchases and pay for them over a period of a few months, with no additional cost. If you carry an outstanding balance on a different credit card, you can transfer it to your new one. Then pay off the debt during the 0% APR time period. Before you do so, though, be sure to check that the charge for a balance transfer is reasonable.

Significant Savings

Low interest rate credit cards allow you to save even after the introductory period. Consider the difference between a credit card that charges an interest rate of 9% and one that charges 20%. If you have a 9% rate and carry a balance of $2,000 for an entire year, you will pay $180 in interest. With the higher rate of 20%, the interest expense rises to $400. That comes out to a difference of $220, which is a considerable amount. If you apply this figure to the principal balance, you will be able to pay off the debt much more quickly.

Check the Attached Fees

When looking for a low interest rate credit card, you will want to compare the various offers. In addition to looking at the interest rate, check the fees attached to the card. Some low interest rate credit cards include an annual fee, charges for balance transfers, and other costs. If the interest rate is low but the other fees are high, your overall savings may be reduced. For this reason, it is important to compare the interest rates and the other costs.

Create a Payment Plan

Even with the savings youll receive from a low interest rate credit card, it is wise to make a plan to pay off your balance. A simple way to do this is to check the minimum payment due each month, double that amount, and apply the extra cash toward the principal balance. If the payment due the following month is less, continue to pay the initial amount you chose. This allows you to reduce the outstanding amount in an organized, structured way.

Low interest rate credit cards are an excellent option if you regularly carry a balance. Over time, they can allow you to save a significant amount of money in interest expense. Check out your options online and then apply right away. You can take advantage of low interest rate credit cards immediately and benefits from the savings.

The best savings account

admin — Sun, 11 Apr 2010 02:10:44 +0000

The best savings account

Savings accounts are the best idea for putting away a set amount of money each week or month depending on your circumstances. You would be surprised at how quickly this money can add up if you are contributing a set amount from your paycheck every payday.
When shopping around for the best savings account, find one that pays a good interest rate and has a minimal amount for opening the account. A lot of banks only require a dollar to open an account while others may want you to deposit anywhere from 5 dollars to 50.

The convenience of having money automatically withdrawn from your paycheck and placed in your savings account is great for some. However others may not put a set amount in each payday and may want to choose how much they deposit into their savings account.

The best type of savings account will pay a comparable interest rate, be easily accessible to your home or work, will not charge a fee for withdrawals from your account, has on-line availability, and does not require a large deposit to open. If you have a bank account and access it online you should be able to transfer money to and from your savings account. You should try not to transfer from it unless it is an emergency because this defeats the purpose of having the savings account in the first place.

Some types of savings accounts are geared towards the holiday season. This allows you to save money for Christmas. If you start it early enough in the year by the time Christmas rolls around you can have a nice amount for your holiday shopping.

Another type of savings account featured by some banks link your debit card with your savings account. Every time you make a purchase using your debit card the amount is rounded up to the next dollar and the extra is deposited into your savings account. Some of these banks will even match the amount deposited by a certain percentage.

Savings accounts are great ways to start your children out learning how to be responsible when it comes to money. Open a savings account and let them deposit birthday money or Christmas money for themselves. All the change that gets thrown in a jar every day can become a savings account deposit for them. They will love to go to the bank and deposit their own money and in the process you are teaching them the importance of saving.

Another advantage to a savings account is establishing credit. If you borrow money from your bank using the money in your savings to secure the loan, when you pay the loan back you will have established credit with your bank. This can make it easier to get an unsecured loan should you need it.

It is important to have a savings account and add to it regularly. For that unexpected expense that crops up, having the money to cover without having to borrow the money is great. With everything today being based on credit-worthiness, establishing a good relationship with your bank or credit union can make a big difference when it comes to buying a home or a car.

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Low Interest Rate Credit Cards – Saving on Interest Expenses

admin — Mon, 15 Mar 2010 13:48:01 +0000

Low Interest Rate Credit Cards – Saving on Interest Expenses

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Low interest credit cards can provide you with substantial savings when it comes to interest expenses. Of course, the best way to save on interest is to pay the balance of your credit card off at the end of each billing cycle. In this way, you get to borrow the money for a brief time without having to pay any interest. For many people, however, paying the credit card bill off at the end of each month isn’t always a realistic option. Therefore, low interest rate credit cards are the best alternative.

Finding Cheap Credit Cards

Fortunately, finding cheap credit cards is not all that difficult, particularly if you have a good credit history. All of the major credit card companies, including MasterCard, Visa, Discover, and American Express, offer low interest credit cards. Therefore, you can easily apply for one with your preferred company. Often, these companies will send mailings to your home or advertise their low interest rate credit cards on television.

While advertisements and mailings provide you with a great way to learn more about your available options, you should also research other low interest credit cards. After all, one way some of these companies manage to keep their interest rates low is by cutting out advertising expenses. Therefore, the best way to browse through available cheap credit cards is to visit a website offering side-by-side comparisons of credit cards. In this way, you can look at the introductory rates, long term rates, and additional benefits of the cheap credit cards you are considering.

The Introductory Offer

The introductory offer provides you with one great way to save on interest expenses. Many credit cards provide a special introductory offer in order to entice new customers to apply for their credit card. In fact, several of these introductory offers are 0.00% APRs and can last as long as one year. More commonly, however, these special rates last for 6 months, three months, or one month. Often, your credit history plays a role in determining how long your introductory offer is good for.

When taking advantage of an introductory offer, you need to be sure to find out what the APR will be after the introductory period is complete. It is not uncommon for the rate to be quite high afterward. Therefore, you will need to be sure to pay off the balance entirely when the introductory period is over in order to get the optimum savings on interest expenses. If this is not a possibility for you, then be sure to select low interest credit cards that remain low interest after the introductory period is over.

The Low Fixed Rate

Another option with cheap credit cards is a low fixed interest rate. These cards do not necessarily have a great introductory rate, but the rate remains continuously low when compared to other credit cards. This is often the best option if you know you will be maintaining a balance on your credit card for a long period of time. Although the low fixed rate may not be as enticing as a 0.00% introductory rate, it can still save you substantial amounts of money in the long run.

Here is an example:

If you carry a balance of just $1,000 on your credit card for one year with a 20% APR, you will end up spending $200 that year in interest. On the other hand, a low interest credit card with a fixed APR of 8% will only cost you $80 in interest that year – saving you $120.

Low interest rate credit cards with attractive introductory rates and low interest rate credit cards with low fixed rates can each save you money when it comes to interest expenses. Be sure to consider both options carefully and to analyze your spending habits and your income to determine the one that is best for you.

open an online savings account today

admin — Thu, 04 Mar 2010 22:29:57 +0000

Open an Online Savings Account
With the popularity of the internet many financial institutions are beginning to see that they can offer their customers many different options. There are several financial institutions that have decided that they can give their customers more services because they have cut their overheads by operating completely online. Using an online bank is often times much better than using your local banking branch, and when you open an online savings account you will find that the fees are much less and the interest rate is much higher which puts extra money in your pocket.
One of the first questions or concerns that many consumers have is when you open an online savings account is your money safe? The answer is yes; if they are FDIC insured that means that your money in an online savings account is insured by the federal government just as it would be in your local bank. It also has the limits of $100,000 per depositor.

The next question is usually how do I actually open an online savings account? It is very easy, you go online and decide which banking institution you would like to use. They will then have an application to fill out which will include all your personal information. Once you submit the application they will then print it all out and mail it to you to be signed.

When they mail your application anyone that will be a signer on the account will have to sign the application and signature card in the appropriate places. They will then ask you to include a photocopy of all the signers’ driver licenses. This is due to the changes in bank laws after 9/11. At this time you will then include your deposit, and as with any transaction done through the mail, do not send cash.
Once they have received your deposit they will send you your checks or debit cards to access your savings account. Most of the online banks give you one or two free times to use an ATM machine to access your funds without charging you a fee, check the terms and details of your account to make sure.

Depositing money is also a question that most people have with online savings account. You can deposit your money three ways. First you can mail in a check for deposit, make sure it is indorsed “for deposit only” and mail it certified. You can also have money direct deposited from your employer; just fill out the proper forms that your employer will give you. Next you can transfer money online from any other banking account, there is usually a limit of how much you can transfer and the bank you are taking the money from usually charges a fee.

If you want to save and earn a higher interest rate then your local bank can offer, open an online savings account. Your money is safe, easy to access and will earn you a higher rate of interest and accrue fewer fees than with a standard local bank.

open an online savings account

admin — Tue, 02 Mar 2010 23:47:21 +0000

It is quite noticeable that our global market have made great advancements

towards greater technology. One of the major contributions of the

technological progress is online banking. Several banking institutions offer

online banking options and one of the most popular choices of online banking

is creating an Internet savings account.

What are Internet saving accounts exactly?

Well, Internet savings accounts are the alternative to an instant savings

account. If you create an Internet savings account then it is linked to your

normal checking account, thereby giving you an easy access from your online

savings account to your checking account. By virtue of this, the money that

you deposit in your checking account can be easily transferred to your

savings account and vice versa. This can be done either online or via phone.

Owing to the low overhead costs, there are several financial organizations

that offer higher interest rates to the Internet savings account holder and

this is the biggest reason why more and more people are opening an Internet

savings account for themselves and their families.

So, if you are still in two minds about opening an Internet savings account,

take my advice, go for it. Not only you will enjoy higher interest rates (

compared to what you get with a traditional saving account) but also you will

be entitled to lots of other benefits. Read on to find out what they are.

The renowned online bankers offer perks to the online account holders in

order to stay ahead of the ever growing competition in the banking industry.

The perks include lucrative investment options, checks, debit cards, various

loan options etc.

One thing you must know about Internet savings account is that the interest

rate is calculated on a daily basis, paid monthly and can vary from day to

day. The biggest advantage of having such a savings account is that you can

have free access to your account from the very comfort of your own bedroom at

any time you want. Yes you don’t have to worry about commuting to your bank,

standing in the queue to monitor your account.

Internet savings accounts are ideal for people who want to save their hard

earned money. The best thing about creating an online savings account is that

you can open your account with as low as one dollar (which is not possible,

if you want to open traditional bank accounts)

It’s true that there are no time restrictions as to when you can deposit or

withdraw money from your Internet account, however, bear in mind that there

is no interest on the full balance account in the month when you withdraw

money from your account.

Since these accounts are all on the Internet, so it doesn’t matter where you

are based. Therefore, an internet savings account saves you from the hurdle

of going through all the formal procedures of closing or transferring an

account(like what you have to with a traditional bank account)when you are

relocating.

To conclude, an Internet savings account is the best option to multiply your

savings in a short span of time. So go ahead and open an Internet savings

account today and enjoy the luxury of a mobile bank account to last you a

lifetime through.

How To Get A Cheap Remortgage And Save Thousands

admin — Mon, 25 Jan 2010 11:25:04 +0000

The definition of a cheap remortgage is different for the lender and the buyer. Lenders see a cheap remortgage as one where they lose money. Home buyers see a cheap remortgage as one where they save money.

It all comes down to where interests lie. It is obvious the lenders interests lies with making money off the loan while the home owners interests lie with saving as much as possible on the loan.

A cheap remortgage is possible. Actually the whole concept of a remortgage is to get a better and cheaper deal then with the original mortgage. The goal is to secure a lower interest rate and get reduced or waived fees. A remortgage is primarily just a way for the home owner to get a better deal.

Lenders do not necessarily want to hand out cheap remortgage. The reason is that the lender is making their money from the interest accruing on the loan. They want to keep the rates higher because they earn more money that way.

However, they understand that home owners are looking for lower rates. In the end their best interest in keeping the customer happy because that will help to ensure the customer stays with them as their lending source.

To get a cheap remortgage a home owner should first discuss their options with the current lender. Once they find out what they will offer it is time to start shopping around. After finding different options the home owner can go back to their lender and try to negotiate.

As mentioned, it is in the lenders best interest to try and keep the customer, so they will be likely to be willing to negotiate upon their rates based upon the quote form other lenders.

A cheap remortgage is going to based up a few factors. It is going to be dependent upon the interest rate and the amount financed. The amount financed could be different due to the equity in the home. Additionally, the term will be shorter so the overall cost will be lower then the original loan anyway.

A cheap remortgage is a money saver for the home owner. It is a way to earn back a little of the money spent on the home purchase.

A cheap remortgage takes some work, but it can be negotiated in the home owners best interest if they know how to play their cards right. The trick is getting their lender to give them a good rate in order to keep them as a customer.

It is all about negotiating which is a skill a home owner has to learn before ever starting the remortgage process. They have to be able to ask for a deal and then back up their request with proof from other lenders that shows their lender they can get a better deal elsewhere.

A cheap remortgage is ideal for a home owner. Saving money on such a big purchase is always a good idea. It also help to free up finances for other options, like home improvements, which also help the home owner, get more for their money.

Saving And Investment Options At The Bank

admin — Fri, 22 Jan 2010 10:37:42 +0000

Your bank can do more for you than simply hold your money and issue checks. Many banks, especially larger national banks, also offer investment and savings options for customers. Here are some of the more common ones:

Bonds: A bond is a debt security certificate. In simple terms, when you buy a bond you are lending money to some enterprise. That might be a corporation or it might be the US itself. In exchange for lending the money, you get a specific interest rate which is paid to you either at maturity of the bond or at intervals during the life of the bond. The principal is paid back to you at maturity.

The Certificate of Deposit (CD) is perhaps one of the most well known investment options sold at banks. They are a unique type of deposit account with special requirements. They pay a higher rate of interest than a regular savings account which is why people use them as investment options. In general, you put in a specific amount of your money into the account and you receive a fixed amount of interest in return. An important distinction with CD’s is that they are covered by the FDIC up to $100,000.

Brokered CD’s are another form of CD’s. These are sold through brokerage firms and they will often have a higher interest rate than those issued by banks. These may be callable, which makes them a riskier investment. Although brokered CD’s are sold through brokerages, they are issued by banks. You should check to see if they are insured by the FDIC.

Interest bearing checking account is another way to make some money through your bank. These accounts are just like regular checking accounts but they usually require a minimum deposit as well as a certain minimum amount to be kept in the account in order to draw the interest. These are sometimes called NOW accounts. NOW stands for Negotiable Order of Withdrawal.

Many banks offer a Christmas club feature that is helpful for setting aside money for holidays. The details of these vary from bank to bank and some will assess penalties if the money is taken out early.

You have probably heard of money market funds. These are mutual funds that are invested in high-quality, short-term corporate and government debt securities. These accounts will usually earn a variable interest rate that is often similar to the interest earned on CD’s. With money market funds, you can withdraw money at any time without penalty. Keep in mind, however, that the FDIC does not insure your principal or the earnings in a money market fund.

A money market account offers consumers higher interest rates than a standard savings account, but they almost always require a minimum balance, and there are limits to the number of checks that can be written per month. Most carry a monthly service fee if the minimum balance is not kept. The FDIC does insure these accounts.

An interest-bearing savings account is another easy way for consumers to earn interest from the bank. Details on these vary from bank to bank so it is a good idea to shop around for the best rates.

Some banks offer premium savings accounts. These accounts usually have tiered interest rates that are tied to higher balances. The more money you keep in the account, the higher the interest rate you receive.

See your bank for more ideas on how to save and invest with them.

How To Consolidate Bills And Save Money Each Month

admin — Thu, 14 Jan 2010 22:21:35 +0000

It is very easy to get behind on monthly bills. We often make purchases assuming we will have the money later that month or even the next month to pay off the purchase. However, with rising interest rates on credit cards, it is easy to quickly fall behind. This is when it becomes necessary to consolidate bills into one monthly payment. Begin by reviewing all of you current debt. Once you are fully aware of what exactly you are dealing with, it will make it easier to make the right decision.

Personal loans are a great way to consolidate your monthly bills into one easy to manage payment. A personal loan can help you consolidate all of your bills into one easy to pay bill. Debt consolidation can not only lower your monthly payment each month, but it can also save you a considerable amount of money in the long run. If you have run up several credit cards, debt consolidation with a personal loan can also save you money in interest payments. Instead of paying interest on several different credit cards, you simply pay one payment each month with one low interest rate.

A home equity loan is another great way to consolidate bills. With a home equity loan you can also combine all of your monthly bills, into one easy to pay bill. A home equity loans uses the equity you have accumulated in your house to pay off your other debts. However, it is important to try to maintain some of the equity in your home. If an emergency should arise, it is nice to have some of the equity to fall back on.

A debt consolidation company can easily assist you with your needs to consolidate bills. Since they specialize in debt consolidation, they can easily help to lower your monthly payments, as well as your overall debt. A professional can assist you in getting back on the right track financially and staying there.

In order to consolidate bills, you must first realize exactly how much debt you have. Then, after a little research, choose a path that will help you regain your financial freedom. Debt does not have to be a way of life. With some simple steps, you can be on your way to a debt free life.

Best savings account

admin — Wed, 06 Jan 2010 04:43:24 +0000

Savings Accounts

Keep track of your savings accounts with my savings accounts » Interest Rate

Instant Access Savings Accounts

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