Deposit savings account instead.

Posted: August 15th, 2013 | Author: | Money

Deposits are a very common option for people who have more or less capital and want to get his interest. However, it very often happens that there appears the inability to pay deposited funds without losing commissions. For many people it is considered as a problem, which in their eyes disqualifies a place as a financial product for them.

Such persons should be given to the commissioning savings account, which is something between a deposit and regular account. It is characterized by slightly lower interest rate than a place, but it allows us to access the funds in the account (usually with a few restrictions). Keeping savings accounts are often free of charge. Sometimes it is required to have a current account with the same bank, but it is not a rule. As for the cost, it is worth checking how limited is the ability to take funds from the account, usually it is possible to one free withdrawal at any time (usually 1 month).

What is crucial when choosing a savings account interest rate. It should calculate the exact percentages of the amount we are paying, because the percentages may vary depending on how much money you accumulate in your account. Sometimes the above example, 20 000 pounds interest are magnified in such a situation should also find out if the excess interest only if the entire amount, because the larger sums can greatly change the real interest rate on the account.

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