Hi i am wondering i am from chicago and I am wondering which bank is the best to open up JUST a savings account???? how about CDs??? how does that work??? can someone explain this to me thanks!!
2007-06-13 12:38:51 · 5 answers · asked by jaysangel040106 3 in Business & Finance ➔ Personal Finance
Nearly every bank offers accounts that are identical to nearly any other bank. Find one that is convenient and had good customer service.
2007-06-13 12:56:55 · answer #1 · answered by STEVEN F 7 · 0⤊ 0⤋
ING and Emigrant Direct are both good online banks. They both offer really good interest rates on savings accounts.
The difference between a CD and a savings account is that a CD is for a fixed amount of time (typically six months or a year). They offer higher interest rates than regular savings accounts, but you have to pay a penalty if you withdraw the money before the term is up. CD's are great for money that you know you won't need for the term of the CD.
2007-06-13 12:45:16 · answer #2 · answered by Kathryn 6 · 0⤊ 0⤋
Emigrant Direct is the best (this is online banking).........The only thing about this is you have to first have a checking account to open up this type of savings account..............So if you dont like this idea, I would recommend Bank of America.
2007-06-13 12:47:36 · answer #3 · answered by Anonymous · 0⤊ 0⤋
I have a savings account at Countrywide Bank at 5.40% with attractive featues and I am very happy. I was advised to go to a comparision site like money-rates.com where you can compare the banks side-by-side for savings account features which is where I found the deal at Countrywide.
2007-06-13 15:48:50 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Bank of America is ok.
2007-06-13 12:51:39 · answer #5 · answered by cardo11 3 · 0⤊ 0⤋