It is important to select the right savings account. You'll want an account that pays interest. Your money will not grow as quickly in a savings account as it might in a riskier investment vehicle.
However, remember: Your money will remain in your savings account for the long haul. It will grow steadily over time, not necessarily quickly.
If you do not have a lot to invest early, you'll need to make sure that you will not face any fines for not having enough dollars in your savings accountant.
If your employer offers direct deposit, it makes sense to ask to have some of your money from your paychecks automatically deposited not only in your checking account, but also in your savings account.
This way, your savings account will grow without you having to think much about it. Just make sure that the amount you are automatically depositing is not more than you can afford.
You need to be able to pay your bills as well as save your dollars.
Savings for retirement, a vacation or a rainy day – whatever you use your savings for, we’re here to help.
With an attractive interest rate and low minimum opening balance, your rainy-day fund will be ready to grow.
- Minimum Opening Balance of $250
- Interest-Bearing Account