Many banks???


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which of these banks has the most interest?? chase, wells fargo, national bank,, mission bank, bank of america, or compass bank.??
pls help i want to save money and not waste a dime. pls help.


Banks in Mission, KS



Answer (2):

meamonkey648

WARNING~THIS IS A LONG ANSWER BUT U'LL SEE WHY!!Well, since I just got home from work, which is also where I bank (Downey Svngs &Loan), here's the catch to what you're asking; how much money do you have to start off with? The reason why I ask, and why any bank employee will ask this is because there's definately many & various forms of "savings" accounts to choose from. If you are just starting out, literally, you're most likely gonna have to go with a regular savings account. But with most, comes a minimum opening balance and a continuous minimum balance that you will have to keep in it in order to avoid certain fees. But in regards to simple savings accts, you're basically only gonna find 0.##% rates out there. If you have the time, you can investigate further online to go to each site and find the best/most interest you can get on a min amt of $. I'd suggest credit unions, because they have (ususally) the better of interest rates anyhow, and are generally known for this in regards to any type of interest bearing account.
Your other option, if you have a large sum of $ that you're going to start earning to save (making your $ make $ for you), is a Certificae of Deposit (aka CD). These accounts typically range not quite so dramatically, but do so in ref to how much you're gonna initially deposit. These rates at this time in our "economic state", are typically #.##% rate with an Anual Percentage Yield (aka APY) rate you'd earn at the time that your CD comes due after the term is up in other words. The terms can range, but the most typical terms are 6 & 9 months, &/or 1yr. And the amount of interest earned usually is based on the scale of the amounts deposited of $500, $5,000, and $10,000. If you fall anywhere inbetween those amts, the terms usually go down slightly.
BUT FOR AN EASY WAY OUT HERE'S THE REAL QUICK AND SIMPLE ANSWER YOU WERE MOST LIKELY LOOKING FOR (only in caps to get your attention here if you wanted to bypass the mini lesson I just provided, not yelling at you, k);
All you need to do in order to get the rates of the financial institutions that you have listed and for any for that matter is to call them and ask them what they're rates are. They are legally bound by Federal Law to provide any and everyone who inquires about their rates. you'll have to know what you're looking for in regards to what type (simple savings or CD for example), if you do this over the phone. And if you do do it over the phone, there's no need to call a headquarters or main office, just call the # of your local branch of the ones that you listed (but I'd get them all if I were you to get out of the "big bank" conglomerate.~Littler banks are sometimes able to offer much better rates due to their size, but that can also work as an advantage for the larger banks too.)
Instead of doing all calling around it's best to go to the internet sites of each of the prospective banks and go to the "rate sheet" provided, (there should be an easy way to get to these for each, but that's universally what they're called), and print out each of their sheets and do a comparison. You might just want to keep the top three as you go thru each of them. But definately print each of the top three out, and go to each of the banks with these sheets to show what the others are offering. This is especially helpful if you're looking into a CD type of acct, but with a regular savings with a lower amt to deposit, they usually won't bother trying to compete with eachother. But in the case of doing a CD, if you go to the 2nd highest rate bidder and show them the rate sheet from the top bidder, they may want to wither match the 1st rate or compete to give you a better rate to get your business initially,because if you're gonna start with them with a savings, your potential for them to convince you to do all your banking (and all those potential "clients" within your group of family members and friends and affiliates that you can bring with you in the future) is sure to come and what they want.
Sorry if this was all so confusing! I know it's a little scattered, but it's giving you your general idea for what you're looking for. And yes, it is a little complicated, but once you do the research, you'll see what I'm saying..
One last tip, make sure that when they give you the APY for the first time when they actually SAY it to you for the first time, make sure that they actually say the actuall y meaning "Annual Percentage Yield", word for word! It's illegal for them not to. THere was huge contreversy back in the day when banks were not federally monitored and they made they're own sayings for the initials APY (as in Associate Pauls' Yield" or something stupid and misleading like that and totally screwed everyone over. If you want to research that "history" you can. It's just a little tidbit of safety info I'm throwing in. It's a pretty shady thing that banks used to do and changed how the government got involved in banking!
but I'll check in on your response to this answer here in a few days to see if you have any other questions. If you do respond via "Answers", I'll see to it that I can further get intouch with you if you really need to or not. But I'm sure that once you see what I'm talking about when you pull the banks' rate sheets, you'll be at ease and put it all together on your own.
Good luck!!! Oh, and p.s., rates DO VARY FROM STATE TO STATE besides just bank to bank, AND IT USUALLY REFLECTS AND COINCIDES WITH THE ECONMIC CLIMATE OF THE NATION/STATE @ THE TIME OF WHICH YOU ARE DOING YOUR INQUIRY.
And there's also Money Marktet accounts that are both checking and savings based that earn interest more so than those regular/simple accounts and most of the time with MM accts, you're able to write checks on it (a limited amount), and draw on the money without getting penialized, which you would if you needed to hit a CD acct for some extra cash.
Like I said, you'll see what i mean. But make sure, when you decide what type, you get the type of accounts' details that you're going with, and see what they are (fees, penalties, surcharges, howmany chks you can write, etc) and that will be the second decision you will be having to make if you want to go further into it (especially with MM accts).
Again, sorry for the scattered tips, but they're tips, right? :)~ Goodluck! AND I TOLD U IT'D B LONG~SORRY, BUT I HOPE I HELPED!!!

Powersthatbe

Many banks, alot of bank charges, even hidden. Interest and taxes on interest added on to your income. Hummmmm.
Maybe you should just downsize what you do everyday and save alot of money, without having to work so hard, One day I added it up and found out that I was spending almost $27.00 a month just on cajin french fries at lunch time at work. Also you could just buy money orders instead of checks, and not have a bank account at all. Cash your check at Walmart for about $3.00 and buy the money orders while you're at it to pay your bills. You would probably save more money doing that than interest that you would make putting your money in the bank!