If you’ve decided to open a savings account at your local bank, you may have been surprised to learn that they have Savings Account Rates, both in monthly fees as well as in the amount of interest that you can earn. This rate can vary from bank to bank, so it’s important to compare. If you want to get the best rates, however, then you may want to consider a credit union.
Credit unions typically offer the lowest fees for their savings accounts. In some cases, you can even find a free savings account, although these don’t typically draw interest. What may be of main concern to you, however, is how much interest you can draw off of your savings. This is especially true if you want to maintain and grow your savings account to be used during your retirement years.
You’ll find that the interest rates offered do vary quite a bit. Some are based on the amount of money you keep in your account. Other credit unions offer higher fee accounts that yield higher interest rates. In almost every case, you’ll have to maintain a minimum amount of money in your account to avoid additional fees.
When you visit a credit union, don’t be embarrassed to ask about their Savings Account Rates. Also, ask for information about the different savings accounts and what they have to offer. You may think that you want one thing but find that a different type of account is more in line with your end goals. As such, keep an open mind.
If you’re looking for a local credit union, consider Pearl Harbor Federal Credit Union. Membership for this particular credit union is very lax. They only require you to live, work, worship or attend school in Ohau. What’s more, any family member of anyone who meets this criterion is also eligible.
Getting the best banking rates is important to everyone. Credit unions usually provide the lowest fees, the best interest rates and the best returns on savings accounts. If you’re not sure if this is right for you, visit PHFCU for yourself and see if what they have to offer fits into your plans for your money.
