ASK & ANSWER | Browse questions and answers from our community experts
Showing 1 - 3 of 402 results.
How does a saving account work?
Asked by unknown
1 Answers
You open a savings account at the bank. The bank pays you interest on the money that you deposit and leave in that account. The bank then loans that money out to other people, only they charge a slightly higher interest rate on the loan than what they pay you for your account.
What Is Considered A High Yield Savings Account?
Asked by unknown
1 Answers
High-Yield Savings Accounts are Deposit accounts available Through A Online Or Brick-And-Mortar Banks That Pay A Higher interest rate (or An Annual Percentageyield (Apy)) Than A Traditional Deposit savings Account.
What is the saving account scheme at MySavingsDirect?
Asked by unknown
1 Answers
You won?t get a flashy website or lots of other banking options with MySavingsDirect, an online division of Emigrant Bank, a large bank based in New York City. But if you?re just looking for a basic savings account with a high interest rate, you'll get 1% APY on its High Interest Savings Account.Even better? You won?t pay any monthly maintenance fe