3. How accessible is your money?
Since this is money you’ll be saving towards a short-term goal, it’s a good idea to keep this cash accessible. Just in case you need to transfer funds back into your checking account or withdraw it for another use, you want to be able to easily access this money without breaching a term or paying a fee.
4. Are there any fees or minimum balance requirements?
Always read the fine print. You’ll want to make sure that there are no maintenance fees or minimum balance requirements in order for you to lock in that higher interest rate. Do your due diligence and most likely, you’ll be able to find an option that doesn’t charge you extra.
When you’re shopping for the best savings account, it’s important to do your research, organize your findings, and be aware of all the options available to you in order to meet your financial goals, as quickly as possible.
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Financial advice for real people, by real people. You shouldn't need a degree to understand your money. Join Head of Education, Brittney Castro and Altruist mentors as they break down financial tips and strategies in a real way to help you finally understand how to achieve your financial goals faster.
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