What are the different kind's of accounts? I am looking for something where i can put money as savings?

Question

but i also get some money from the bank like a certain % of what i put in my account. I am looking for something where i can get the most money out of & what is the age requirement for it?

Answer 1

open a PAYPAL account on line if you are 18 or older, and sign up for the money market account. As of now, they pay 5.21 % which is WAY WAY better than most banks--about 12 times better. They credit interest on the last day of the month or first day of next month and you can transfer to or from your checking or savings account online with NO FEES for a personal account.

Answer 2

If you are a minor child you may need parents to set up an account for you.
Next it depends how much money you have to save and how soon you might want to spend it.
If you have earned income you can put money in a ROTH IRA but the income would need to stay in the account. The money in the ROTH can be in a money market account or CD or brokerage account.
If you are saving for college you may have your parents open a 529 account and you can use your money to fund it. That money must be used for education but there are benefits.
ING or Emigrant direct or other on line accounts may not offer accounts for people under 18.

Answer 3

For long term, shares are a thank you to circulate. because it gets nearer to once you prefer to apply it, you progression to much less risky issues like bonds and money marketplace. With a time horizon of 18 years, regularly equities. As he gets older, i might shift the mixture till it is merely about all in bonds/money markets via his 18th birthday. needless to say all people's situation is unique and that's merely favourite data. Edit: If the money is definitely for faculty, a 529 plan is something to think of approximately yet word that a lot of them have excessively severe expenses... some even double-value you., so do your learn. And for goodness sake i'm hoping you already know the way your financial consultant is compensated. the place I labored, we've been paid according to how plenty we bought to human beings, starting to be a sparkling conflict of hobby.

Answer 4

www.fnbodirect.com is now paying 5.05 % on their online savings account. There is no minimum deposit.

I have had money in fnbo direct for over 1 yr, and plan to keep some money here for a long time.

Answer 5

If you are 18 or older I suggest a Mutual fund, money market account with check writing priviledges

Answer 6

Try ING.