Getting a high interest on a savings account

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Posted by on Tuesday September 3, 2013 at 10:15:22:

People work hard to earn money. Some are wise enough to save some of them in the bank. Others think putting money in the bank is no better than keeping them at home: under the bed, in a cabinet or in a safe. This is because most people do not find savings accounts with high interest rate right away. Such accounts are usually hard to find. Most banks are not inclined to telling everyone about a higher interest rate. Why? Because they would be earning much less if everyone would choose such a savings account. After all, some people voluntarily open a bank savings account even if the interest rate is minimal.

Saving accounts with higher interest rate are not out in the open but they exist. Never be disappointed with the yield of your savings account again. You should look for a higher interest rate if you are serious about growing your money in the bank.

Of course, choosing a savings account is not all about the interest rate. Many other factors must be taken into consideration. For instance, you also have to look at the bank's location, size, track record, and online activities. Does the bank have a branch near you? Is it a local or national bank? Does one of its branches shut down in the last five or 10 years? Can you access your account online? Some banks also offer rewards or prizes for transactions such as depositing and paying for bills online. Yes, in addition to higher interest rates, some banks also give prizes like a free trip to a popular tourist destination to customers who, for example, pay their bills using their savings account.

Be mindful of the minimum amount required to earn interest. It is different from the maintaining balance, which is the balance you must keep to keep the account active.

Do you love to keep your money at home? Why do that if it can grow in a bank? Simply look for a bank that gives higher interest rates for savings account.




Re: Getting a high interest on a savings account Posted by mr wasiu on Saturday October 19, 2013 at 5:55:23:

please sir,i will like to know some of the banks.thanks



Re: Getting a high interest on a savings account Posted by Felix Okoli on Saturday October 19, 2013 at 5:55:23:

I know that Diamond bank has a HIDA savings account.