The savings-account tag has no wiki summary.
10
votes
3answers
218 views
can the government or debt collectors garnish money from any bank account to which the debtor has access?
A trusted family member has access to my savings account. The savings account is mine, but the family member's name appears next to mine, which means that they are entitled to withdraw money from the ...
0
votes
0answers
82 views
How to compare profitability of a project to return from a savings account? [closed]
I want to compare the profitability of a project vs. the profitability of cash in a savings account.
What are the differences between the IRR and MIRR methods? Could you include other methods in ...
7
votes
1answer
67 views
Savings Account Rates vs. CD Rates vs IRA CD Rates
I have an IRA at Fidelity, and was looking into rates I could get for new issue CDs. I found that the best rate offered for a 1 year CD was 0.3%. I was surprised by this, as I currently have a ...
1
vote
1answer
43 views
How to automate and streamline saving for multiple large purchases?
My situation is the following:
I want to automate as much of my finances as possible
I want to have multiple savings goals (perhaps house, wedding, new car, or recurring 'savings' items like car ...
2
votes
1answer
239 views
Are there any alternatives to ING's Electric Orange that have similar features?
I currently utilize ING Direct for savings and checking via Electric Orange and Orange savings accounts. However, two features of their bank have stopped me from truly utilizing their services to the ...
3
votes
1answer
141 views
Safety of keeping savings in a mortgage account
I have a mortgage account and a separate (yet linked) savings account with a certain Australian bank.
This bank draws a minimum mortgage repayment from the savings account into the mortgage account ...
3
votes
4answers
241 views
What are the advantages of using credit card to pay most of expenses?
If I will pay most of my expenses via credit card, then is it correct to assume the following points?
1) My saving account interest rate will increase by somewhat (interest
is calculated upon ...
1
vote
2answers
111 views
Is it good enough to close the existing saving account and open new saving account at another bank for higher interest?
I have a saving account which can earn at most 0.25 %p.a on BANK A.
I have another despoit account in BANK A for my daily usage.
I found BANK B is offering 0.4% per year for the saving account.
...
6
votes
2answers
180 views
Common practice to closing a checking and savings account?
Is there a common practice to closing a checking & savings account?
For example, should I transfer all the funds electronically to my other bank then call and close it or is it better to get a ...
9
votes
6answers
1k views
Should I have separate savings accounts for various savings goals?
I have read through some personal budgeting articles and saving tips. Most articles and books mention saving money for emergency funds, large purchases, etc.
Should emergency funds and saving funds ...
4
votes
3answers
94 views
Can we compare peer-to-peer loans to savings accounts?
A common argument to get involved in peer-to-peer lending (at companies like Lending Club, Prosper, Peerform etc.) is that savings accounts have an ROI that may be even lower than inflation, thus you ...
2
votes
2answers
109 views
Daily basis interest calculation on Indian savings accounts
I had read that RBI had instructed banks to calculate interests on daily balances from 1st april 2010. Has this been implemented or shelved? I haven't noticed any difference in my interest credits.
12
votes
4answers
887 views
Pros/cons for buying gold vs. saving money in an interest-based account?
Over the years, I have noticed a certain pattern when it comes to money and gold.
For example, my father bought a house 30 years ago for $20,000, and today that house is worth $200,000. If my father ...
1
vote
2answers
235 views
Does the interest rate on a savings account always fluctuate? What about for a TFSA?
When we say 'Savings Account', does it automatically mean that the interest rate can go up and down? So by that definition, the interest rate on TFSA can go up and down any time?
4
votes
3answers
414 views
Is a High-Yield Savings Account with 1.25% APY too good to be true?
Okay, Sallie Mae is advertising a savings account with 1.25% APY. That seems incredibly high for a savings account, especially right now. It seems like a too good to be true type thing. Is there a ...
8
votes
4answers
211 views
Should I switch to this high rate checking account for my emergency fund?
Okay, so I bank at a local credit union, AllegacyFCU. (Here is their rates sheet.)
Currently I have through this bank:
Daily Access Savings account with 0.2% interest
Totally Free Checking (no ...
5
votes
2answers
987 views
What are your thoughts (pros & cons) on all-in-one accounts, like Manulife One?
I think it looks very interesting, and certainly promises to deliver. My main concern is, as a single person, is it wise to put all of my eggs into one basket?
2
votes
2answers
2k views
What's the difference between a Chequing account and a Savings account?
Because I know you can draw cheques from a savings account, so what gives?
8
votes
3answers
539 views
Which bank (checking & savings) offers the best interest rates, lowest fees, and is FDIC insured?
We currently use ING for our banking and like a lot of its amenities, but their rates (as most banks, I'm sure) keep going down, down, down. The current savings rate is 1.25% APY and checking rate is ...
