Online Savings Accounts - High Rate CD Accounts | Saving Money for Kids » interest rate

High Interest Savings Account Online Makes Sense

High Return Savings Account — Thu, 19 Nov 2009 21:13:40 +0000

Having a high interest savings account with an online bank these days just makes sense. I don’t particularly care whether you choose a money market account, a savings account, or even a high rate CD for that matter. Whatever account type suits your needs, you are far more likely to earn a respectable rate of interest on your deposits. Online High Interest Rate Savings Accounts Keep Up with Inflation The nice thing about using an online high interest savings account is that the competition for deposits is so high that online banks are forced to quickly adjust their interest rates to market conditions. If rates suddenly start rising at other banks, your online bank is going to follow suit in order to remain competitive. Given that savings account interest rates rise and fall with real interest rates and inflation it only stands to reason that a online high interest savings account is going to keep up with inflation. Aren’t Savings Accounts for Old Folks? The old thinking was that putting money in a savings account or CD was for retirees living on a fixed income – but I’m betting more than one 40-something year old has watched his or her [...]

High Interest Savings Account Online Makes Sense is a post from: Online Savings Accounts - High Rate CD Accounts | Saving Money for Kids

Open a Savings Account Online | A Simple Way to Keep Up with Inflation

High Return Savings Account — Thu, 24 Sep 2009 01:00:24 +0000

Open a savings account online and you will be sure to keep your liquid reserve cash earning income at today’s most competitive short term interest rates. Leave your money in your local brick and mortar savings bank and watch inflation annihilate your cash reserves’ buying power. Simple Economics – Inflation Rate vs. Interest Rate The header to this paragraph may seem intimidating but once you see the concept explained it will be ridiculously simple. Trust me, you will not need a bachelor’s degree in Economics to figure this out. Ready? If the inflation rate is higher than your savings interest rate your savings account cash loses buying power every day. If your interest rate is higher than the inflation rate, your savings account cash gains buying power every day. What’s the lesson? Make sure as much of your savings account money is earning more than the rate of inflation as humanly possible. How do you do that? Open a savings account online. Why Open a Savings Account Online? Why Do Online Banks Pay Higher Interest Rates? I would hope the answer to the first question should be now obvious. An online savings account will pay higher interest rates, hopefully at [...]

Open a Savings Account Online | A Simple Way to Keep Up with Inflation is a post from: Online Savings Accounts - High Rate CD Accounts | Saving Money for Kids