What is the best banks to open a savings account with. I am getting started in life by making my first savings account. I also need help with YPR, what is it? I prefer you to state the bank, fees to open the account, interest rate, how often is it compunded, and YPR. Thank You!
2007-01-05 15:02:56 · 4 answers · asked by Kyle 1 in Business & Finance ➔ Personal Finance
HSBC online savings is giving like 5.15%. ING's great also
2007-01-05 16:33:39 · answer #1 · answered by iliketodreambig 2 · 0⤊ 0⤋
Go to bankrate.com. I use the information there to see what nationally and locally the best return rates are for CD's. You could easily do the same for savings accounts.
YPR is probably yearly percentage rate.
Savings account set-up should not cost a thing. The bank wants your money.
Everything else is up to you to find out.
2007-01-05 15:05:41 · answer #2 · answered by CG 6 · 0⤊ 0⤋
Do you mean APR (annual percentage rate) or APY ("Yield)? The APR is basically the stated rate that the account is paying based on an annual calculation. The best liquid (meaning you can put in an take out money at any time) rate I have seen is at www.ingdirect.com. The rate keeps going up. You have to have an existing bank account (checking or savings, you can get one for free at many banks or credit unions.) I believe it is $50 to start, but there is no fee, the money is yours. You set up your account online, the site walks you through it. Check it out! Most banks compound interest monthly. Good luck!
2007-01-05 15:32:49 · answer #3 · answered by Anonymous · 0⤊ 0⤋
http://www.CitiBank.com
They have a savings account that pays 5%!
(this is not an ad, I have no connection to CitiBank)
2007-01-05 15:05:25 · answer #4 · answered by Life after 45 6 · 0⤊ 0⤋