Best Savings Account for 2015
One of the most widely used types of consumer financial accounts is the savings account. In this day and age, there are a variety of considerations to bear in mind when it comes to finding the most appropriate savings account. Indeed, there are a number of key factors to bear in mind when it comes to seeking and finding the best savings account for 2015.
Interest Rate Comparisons
When working to identify the best savings account for 2015, a person definitely must take the time to undertake a comparison of interest rates. The reality is that the interest rates associated with savings account really are quite minimal. However, there are differences from one bank to another. A consumer must keep in mind that even a small uptick in the amount of interest associated with a savings account adds up over time.
When it comes to the best bank account for 2015, a person also needs to be aware of options in which a person can garner a high interest rate by agreeing to a larger minimum balance in the account.
Because there remain limitations on interest rate levels in this day and age, another factor to take into consideration when seeking the best bank account in 2015 is any possible reward program associated with an account. Long gone are the days when banks offered things like toasters when a person opened a savings account. However, banks have some solid rewards programs associated with the best savings accounts at this point in time, rewards programs that will be highlighted in 2015.
As is the case with interest rates, banks that have started to include a rewards program with their savings accounts offer variety in that regard. These rewards programs range from gift cards based on different deposit levels, travel programs and the like.
Banking Across State Lines
With the explosion of mobile technology and apps over the course of the past several years, a person is no longer confined to opening up a savings account at the local bank. (Of course, there is something to be said for a neighborhood bank, a person looking for the best savings account in 2015 needs to take broad approach.)
In some instances, a person can get the best option on a savings account by opening an account in another state. With the technology available today, including apps that permit the digital depositing of checks, banking in this manner has become easy to master.
Brick and World Banks — Not the Only Option
In 2015, a consumer is no longer restricted to finding a savings account at a traditional brick and mortar world bank. Thanks to the innovations in digital technology, there are now an ever growing number of online banking options as well with institutions that exist only in cyberspace.
When a person seeks the best bank account for 2015, these online options can be positive alternatives. An important factor to keep in mind is that a bank operating exclusively online does save money on overhead. As a result, this type of bank typically is able to pass some of that savings on to its customers.
Easy Account Access
As part of an effort to identify the best account for 2015, attention must be paid to the issue of accessibility. In the final analysis, the best savings account for 2015 will provide easy accessibility to a consumer. For example, such an account will be readily accessible and manageable through the use of the full spectrum of electronic devices. This includes traditional PCs, tablets and smartphones. The best savings account for 2015 will be associated with
Liberal Withdrawal Policies
When selecting the best bank account for 2015, attention must also be paid to withdrawal policies. Of course, by definition, a person typically does not want to make a tremendous number of withdrawals from a savings account during a 30 day time period. Nonetheless, there are some savings accounts that have far more restrictions when it comes to withdrawal frequency. As a general rule, the better account provides a consumer with a greater level of flexibility when it comes to the number of withdrawals permitted during a 30 day time period without financial penalties being imposed on the account holder.
Another consider to bear in mind when seeking the best savings account for 2015 is the ability to interconnect such an account with another account (or accounts). For example, some consumers appreciate the convenience of linking a savings account with a companion checking account. Not all institutions offer this type of arrangement as a matter of routine.
Credit Card Options
Finally, in selecting the best savings account for 2015, there are institutions that offer an associated credit card with favorable terms when it comes to a particular account option. Many people appreciate having the ability to has different types of financial products associated with a common account at one financial institution.