Skip to main content

Reply to "What's the most important thing to look for in a SAVINGS account?"

No minimum is probably the most important to me. Because this generally means no fees even if my savings dip below a certain amount. There should also be no fees up to a certain point -- for example, savings accounts should let me withdraw from it once in a while without incurring any fees.

High interest is nice, but of less importance to me. This is mostly because I already invest my money in the markets. Having a 1% risk-free return would be great, but chasing returns is more what I use my money for in an investment account, not as much in a savings account. So high-interest is a 'nice-to-have' for me but definitely not a requirement. It should, however, most definitely have a higher interest rate than a checking account.

For me personally, Ally.com works as a savings account since I mostly just use it to store money, and since I almost never withdraw from it, I don't have to worry about fees.

--

https://www.goodmoneygoodlife.com

×
×
×
×