How to Find the Best Banks to Help Shape Your Financial Future 2015 Latest
Deciding on just one out of the many available banks for you to choose from can be daunting. How do you know which bank will be the right fit for you? Where do you go to find reviews? It’s important to make sure you are working with the right bank to make sure your financial future is secure. With so much else to worry about, why spend time stressing over which financial institution is perfect for you? Keep the following factors in mind to find the right place to invest to ensure your world remains in balance.
What Is an Annual Percentage Yield?
First, regardless of whatever else you are looking for in a bank, you want to choose a financial institution that offers a high APY, or Annual Percentage Yield. This term usually refers to the amount that a financial institution pays to the depositor (you). Banks and other firms tend to advertise their APY as a way to promote financial products that do not involve debt. High APYs are usually between 0.85 percent and 1 percent. Choosing a bank that offers a high APY will allow you to earn money simply because you have money in your account already.
What You Need To Know About Sub Accounts
Next, banks really do want to see you succeed financially. The best ones offer the option of sub accounts. A sub account is a way to subdivide your savings into more than one bucket. For instance, a sub account will allow you to save toward a vacation while also retaining your monthly savings schedule. Instead of all of your savings being in one account, you can divide savings for emergencies, upcoming trips, or home improvements. Sub accounts relieve the tension of wondering if you have enough money saved to take that dream vacation and not worry about providing for unexpected medical bills or last minute life changes.
Finally, percentage rates and products are great, but the best service your bank can provide you with is quality customer service. You want an institution that you can make a personal connection with. Good banks value their customer service representatives, loan officers, and other personnel. When life gets rough or you run into a tough financial patch, having a personal connection with your bank will make all the difference in the world. They are there to help protect you and your money and the best bankers are keenly aware of their community’s needs. Remember: they are there to work for you! Make that personal connection and you will have a strong, guiding hand to help you achieve your goals. Plus, bankers with personal relationships with their clients tend to alert clients when special or un-advertised offers are available. Who wouldn’t want that insider information?
Remove the stress from your life and when it comes to banks, consider the option that best fits your needs. It’s easy!