Welcome to Savings Guide
Country Bank For Savings Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
Savings Accounts – Facilities and Provisions
from:Introduction
In today’s age, an increasing number of customers are looking for lucrative options to save their hard-earned income. Each of these customers aims to look for options wherein they will be able to save their money as well as earn further interest for doing the same.
To cater to such needs, today, the financial institutions offer a vast range of facilities to such customers, which give them handsome returns in turn of depositing their savings with them. Amongst the various sets of facilities offered, it is the savings accounts which still continue to be the most popular and widely used by the customers.
The Concept and Functions
Savings accounts are basically a type of bank account, established to help the customers to keep aside a part of their liquid assets, also earning monetary return simultaneously. The most stringent principle of such savings accounts offered by the series of commercial banks, savings and loan associations, credit unions and mutual savings banks is that the customer cannot use the money deposited directly as cash, further encouraging the build-up up of savings.
Another principle regulated by these savings accounts is that the funds be kept on deposit at least for a minimum length of time, which means that there will be a limit on withdrawals, payments and transfers that might be carried out. While some banks offering such savings accounts will not allow any transfer beyond the stipulated limit altogether, yet others will inform the account owner that a violation has occurred.
At times, withdrawals from these savings accounts are costlier than the same transactions being carried out from a demand account. In addition, most of such savings accounts do not offer cheque-writing services, though there are many institutions that name their higher-interest demand accounts as savings accounts. To fulfill such saving needs of the customers, banks of all types offer good terms for savings accounts of all categories. The interest rate offered by each one of these might differ form each other, but the general trend is usually prevalent across various banks.
Experts suggest that to streamline your savings and ensure that your savings also earn further for you, it is important that you hold at least a single savings account with one of these banks. However, before you actually decide on an appropriate banking institution, you must analyze the terms offered by the bank such as the interest rates, withdrawal limits and other such features, especially in specific context of your own financial status and the results required out of your investments.
Country Bank For Savings News
Country Bank for Savings ends '11 with $1.4 billion
Banks, credit unions, insurance companies, financial planners, investment brokers and accountant firms all have found space in this special issue of Business Matters. This week's Business Matters is dedicated to all facets of the region's financial services industry. Business Matters will have several of these themed issues over the course of the year. The next one, scheduled for the spring ...
Read more...Canadians paring down debt but not racking up savings, Royal Bank study suggests
By Andrew Flynn, The Canadian Press TORONTO - The Royal Bank says Canadians are managing to pay down their debts but most haven't got any savings set aside for a rainy day. The RBC Canadian Consumer Outlook ...
Read more...Across the Country, Looking for the Economic Recovery
Cities across the country have shown economic improvement in recent months, but it’s a joyless recovery for people still feeling the pinch.
Read more...BPI sweetens auto loans
In an effort to further boost the country’s auto industry, BPI Family, the savings bank arm of the Bank of the Philippine Islands, yesterday launched its latest promotion in which buyers can get free comprehensive insurance for the first year.
Read more...Research and Markets: New Asia Pacific Retail Savings & Investments Database
Research and Markets has announced the addition of the "Asia Pacific Retail Savings & Investments Databas
Read more...Respect Supreme Court TRO, CBCP Urges
MANILA, Philippines - The Catholic Bishops' Conference of the Philippines (CBCP) Saturday called on everyone - particularly Malacañang, the Senate, and the prosecution panel - to respect the Supreme Court's temporary restraining order (TRO) stopping the impeachment court from compelling the Philippine Savings Bank to disclose the foreign currency accounts of Chief Justice Renato C. Corona."It is ...
Read more...Greek deal to cut spending does not end debt drama
More than two years after it came clean about its addiction to debt, Greece may finally have begun its long and painful road to recovery.
Read more...Stop Bank Scrutiny
MANILA, Philippines - The Philippine Savings Bank (PSBank) asked the Supreme Court (SC) Wednesday to stop the Senate, acting as impeachment court, from compelling its officers to present and testify on the foreign currency deposit account of Chief Justice Renato C. Corona.In a petition, PSBank President Pascual Garcia III said a temporary restraining order (TRO) is necessary to prevent a ...
Read more...