Here are the best online savings account interest rates
An offshoot of Sallie Mae, SmartyPig offers only one kind of savings account. However, its savings accounts offer some of the highest interest rates in the industry, earning more than most competitors, even big banks. SmartyPig also has a unique feature that rewards you for recommending the bank to friends.
Money market account: typically earns more interest than a regular savings account in exchange for higher balance requirements; some provide check-writing privileges and ATM access. Certificate of deposit: usually has the highest interest rate among savings accounts and the most limited access to funds.
An Overall Good Account: Zenith Bank's Savings Account
There's no real downsides to Zenith Bank, they have one of the highest interest rates in all of Ghana (around 10% per year), has tons of locations through Ghana, doesn't have any ridiculous hidden fees or high account minimums, or really anything wrong.
How much interest can you earn on $1,000? If you're able to put away a bigger chunk of money, you'll earn more interest. Save $1,000 for a year at 0.01% APY, and you'll end up with $1,000.10. If you put the same $1,000 in a high-yield savings account, you could earn about $5 after a year.
The SmartyPig Savings Account: At a glance
This account is free to open and charges no fees. Each account is FDIC insured up to $250,000 via Sallie Mae Bank. SmartyPig limits account balances to $250,000. ... You can only connect one account to fund your SmartyPig primary account.
In 2021, Sallie Mae Bank is included among Forbes Advisor's Best Online Savings Accounts and Best Money Market Accounts. The SmartyPig Account, High-Yield Savings Account and Money Market Account all offer rates that are attractive for online banking fans.
How do I close my Account? When you've saved up for all of your goals and decide you'd like to close your SmartyPig Account — please contact our Customer Support Team by calling (877) 751-6884 Monday-Friday, 8AM to 8PM ET.
As a savings rule of thumb, save a minimum of 20-25% of your post-tax income in lieu of other goals. ... To give yourself the most possible options in your career and life, save 50% or more (read about magic savings rate breakpoints).
According to the FDIC, the national average interest rate on savings accounts currently stands at 0.04% APY.
While there are several different types of savings accounts, the three most common are the deposit account, the money market account, and the certificate of deposit.
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