Choose from a variety of savings accounts, depending on your saving and financial goals.
We all know how important it is to budget and save in order to build wealth. However, it is difficult for many folks to not only create a budget, but to stick to it. Although budgeting and saving can be very difficult, the fact of the matter is that budgeting and saving can help you achieve financial freedom and alleviate financial stress for you and your family.
If you are interested in opening a savings account, you are already on your way toward achieving financial success. Most savings accounts not only offer a safe place for you to keep your money, but also include incentives and benefits. To discover which savings account option is right for you, consider the following questions:
What are your savings goals?
An example of a long term goal would be saving for retirement and a short-term goal may be to save for a new car in a few months. Short-term and long-term savings goals are important to know, as they help you determine what type of savings accounts you need.
How accessible do you need your money to be?
Remember, this is money that you may need in an emergency, so make sure you select an account that will give you access when you need it. ATM accessibility or the ability to make transfers through online banking or mobile banking are things to look for.
How large of a balance do you want to carry?
There are minimum balance requirements for many savings accounts, as well as limitations on earning interest at certain balance levels.
What services are included?
Additional services like online banking or mobile banking that add convenience are a bonus.
What fees go with this savings account?
Withdrawal limit fees, minimum required balance fees, transfer limit fees and other fees may apply, so be sure you know which could apply to you.
For more information on opening a savings account with Iowa State Bank and Trust Company, contact us today!
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