The Clinton Herald, Clinton, Iowa

Lifestyles

July 29, 2013

Online banks may help you boost your savings plan

(Continued)

“When you choose an online savings account your money, no matter how much you put in there, will go farther if it pays a higher interest rate,” Polishchuk said. “And, it doesn't charge a fee.”

More valuable than interest

The absence of fees may be more important than the amount of interest you earn on your savings. A $10 fee here and a $20 fee there quickly wipes out any earnings and actually eats into your savings.

Online banks typically make it easier to get started with a savings plan. While some traditional banks require you to open an account with a specific minimum amount, online banks usually have no minimum deposit requirement.

Here are some online banks and what they offer in the way of savings products:

Ally Bank: Formerly GMAC Financial, Ally's savings account has no minimum deposit to open and no monthly maintenance fees. It currently is paying 0.84 percent APY.

Capital One 360: This online bank, part of ING Direct, advertises “no fees, no minimum” for its savings accounts. It currently pays 0.75 percent APY.

American Express: The credit card company's online bank features a savings account with “no monthly fees, no minimum balance.” It currently pays a competitive 0.85 percent APY.

USAA Bank: The insurance giant's online bank has a savings account with “no monthly service fees, regardless of your balance.” It also features tiered rates, paying higher interest on larger balances. Current savings account rates range from 0.10 percent to 0.20 percent APY.

EVantage Bank: Perhaps the best online savings account isn't even a savings account. EVantage Bank's Rewards Checking is a free checking account that currently pays 2.0 percent APY on balances up to $10,000. All you are required to do is post and clear 10 Evantage Bank Visa CheckCard sales transactions per cycle and receive all statements electronically. As a bonus, out-of-network ATM fees are refunded, up to $25 per cycle.

Story provided by ConsumerAffairs.

Text Only
Lifestyles
  • The virtues of lying

    Two computational scientists set out recently to simulate the effects of lying in a virtual human population. Their results, published in the Proceedings of the Royal Society B, show that lying is essential for the growth of a cohesive social network.

    July 31, 2014

  • The Clinton Herald Jim Miller Low-cost, free cellphone options for seniors DEAR SAVVY SENIOR: What are the cheapest cell phone options available today to seniors living on a shoestring budget? I only need it for occasional calls. — Seldom Calling SeniorDEAR SELDOM: For financially challenged seniors who only want a cell pho

    July 19, 2014 1 Photo

  • Off to market: Fulton Buy-Way yard sales are Aug. 8 and 9

    Flea market fans and bargain shoppers will once again make their way to Fulton.

    July 31, 2014

  • School supplies offered at events

    With students going back to school soon, Clinton families will have two opportunities to receive free back-to-school supplies.

    July 30, 2014

  • CATS-DOGS281.jpg Where cats are more popular than dogs in the U.S.-and all over the world

    We all know there are only two types of people in the world: cat people and dog people. But data from market research firm Euromonitor suggest that these differences extend beyond individual preferences and to the realm of geopolitics: it turns out there are cat countries and dog countries, too.

    July 29, 2014 1 Photo

  • YWCA offers lifeguard training

    CLINTON — The YWCA will offer lifeguard training in August.The course will be held from Aug. 4 to 10 at the YWCA. This 30-hour class will meet from 5 to 9 p.m. for four weeknights and from 1 to 5 p.m. Saturday. A possibility of adding a class from 1

    July 25, 2014

  • GPS race Teams race to complete challenges THOMSON, Ill. — A challenge in August will pit teams against each other to complete a series of challenges.The event will begin at 9 a.m. Aug. 16 at the Upper Mississippi River National Wildlife and Fish Refuge in Thomson. Armed with GPS units, teams

    July 25, 2014 1 Photo

  • Habitat for Humanity hosts fundraiser

    CLINTON — Habitat for Humanity will host a fundraiser in Thomson, Illinois.The Clinton County group will showcase Laid Back Luau from 5 to 8 p.m. Friday, Aug. 8, at Heirloom Cafe in Thomson. The event will feature games, prizes, music train rides for

    July 25, 2014

  • Fire departments undergo grain bin rescue training OMAHA — The Goose Lake and Lost Nation Volunteer Fire Departments each have received lifesaving grain bin rescue equipment through a donation from Farm Credit Services of America.Goose Lake received its equipment July 14 and Lost Nation on July 15. E

    July 24, 2014

  • ADM donates $75K for fire boat purchase CLINTON — Archer Daniels Midland Company has donated $75,000 to the city of Clinton for a new fire and rescue boat for the Clinton Fire Department.The boat will help the fire department respond to fires, administer emergency medical services and resp

    July 24, 2014

Front page
Clinton Herald Photos


Browse, buy and submit pictures with our photo site.

Poll

Should the city of Clinton appeal the open records violation ruling that will cost taxpayers $40,600?

Yes
No
     View Results
AP Video
Olympics 2014
Featured Comment
Featured Ads
Blue Zones Project
Parade
Magazine

Click HERE to read all your Parade favorites including Hollywood Wire, Celebrity interviews and photo galleries, Food recipes and cooking tips, Games and lots more.